0000819793 2017-01-01 2017-12-31 0000819793 us-gaap:RetainedEarningsMember 2017-01-01 2017-12-31 0000819793 us-gaap:NoncontrollingInterestMember 2017-01-01 2017-12-31 0000819793 2018-01-01 2018-12-31 0000819793 ain:AlbanySafranCompositesLlcMember 2018-01-01 2018-12-31 0000819793 us-gaap:RetainedEarningsMember 2018-01-01 2018-12-31 0000819793 us-gaap:NoncontrollingInterestMember 2018-01-01 2018-12-31 0000819793 2019-01-01 2019-12-31 0000819793 ain:AlbanySafranCompositesLlcMember 2019-01-01 2019-12-31 0000819793 us-gaap:RetainedEarningsMember 2019-01-01 2019-12-31 0000819793 us-gaap:NoncontrollingInterestMember 2019-01-01 2019-12-31 0000819793 us-gaap:PensionPlansDefinedBenefitMember 2017-01-01 2017-12-31 0000819793 us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember 2017-01-01 2017-12-31 0000819793 us-gaap:PensionPlansDefinedBenefitMember 2018-01-01 2018-12-31 0000819793 us-gaap:PensionPlansDefinedBenefitMember 2019-01-01 2019-12-31 0000819793 us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember 2018-01-01 2018-12-31 0000819793 us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember 2019-01-01 2019-12-31 0000819793 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember 2017-01-01 2017-12-31 0000819793 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2017-01-01 2017-12-31 0000819793 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember 2018-01-01 2018-12-31 0000819793 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2018-01-01 2018-12-31 0000819793 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember 2019-01-01 2019-12-31 0000819793 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2019-01-01 2019-12-31 0000819793 country:CH 2019-01-01 2019-12-31 0000819793 country:BR 2019-01-01 2019-12-31 0000819793 country:CN 2019-01-01 2019-12-31 0000819793 country:MX 2019-01-01 2019-12-31 0000819793 2018-12-31 0000819793 2019-12-31 0000819793 us-gaap:TreasuryStockMember 2016-12-31 0000819793 us-gaap:CommonClassAMember us-gaap:CommonStockMember 2016-12-31 0000819793 us-gaap:SeriesBPreferredStockMember us-gaap:CommonStockMember 2016-12-31 0000819793 2017-12-31 0000819793 us-gaap:CommonClassAMember us-gaap:CommonStockMember 2017-12-31 0000819793 us-gaap:SeriesBPreferredStockMember us-gaap:CommonStockMember 2017-12-31 0000819793 us-gaap:TreasuryStockMember 2017-12-31 0000819793 us-gaap:CommonClassBMember 2018-12-31 0000819793 us-gaap:CommonClassAMember us-gaap:CommonStockMember 2018-12-31 0000819793 us-gaap:SeriesBPreferredStockMember us-gaap:CommonStockMember 2018-12-31 0000819793 us-gaap:TreasuryStockMember 2018-12-31 0000819793 srt:ScenarioPreviouslyReportedMember us-gaap:CommonClassBMember 2017-12-31 0000819793 srt:RestatementAdjustmentMember us-gaap:CommonClassBMember 2017-12-31 0000819793 ain:OpeningBalanceAsAdjustedMember us-gaap:CommonClassBMember 2017-12-31 0000819793 us-gaap:CommonClassBMember 2019-12-31 0000819793 srt:ScenarioPreviouslyReportedMember us-gaap:CommonClassBMember 2018-12-31 0000819793 srt:RestatementAdjustmentMember us-gaap:CommonClassBMember 2018-12-31 0000819793 ain:OpeningBalanceAsAdjustedMember us-gaap:CommonClassBMember 2018-12-31 0000819793 us-gaap:CommonClassAMember us-gaap:CommonStockMember 2019-12-31 0000819793 us-gaap:SeriesBPreferredStockMember us-gaap:CommonStockMember 2019-12-31 0000819793 us-gaap:TreasuryStockMember 2019-12-31 0000819793 ain:MachineClothingMember 2017-01-01 2017-12-31 0000819793 ain:EngineeredCompositesMember 2017-01-01 2017-12-31 0000819793 us-gaap:CorporateNonSegmentMember 2017-01-01 2017-12-31 0000819793 ain:MachineClothingMember 2018-01-01 2018-12-31 0000819793 ain:EngineeredCompositesMember 2018-01-01 2018-12-31 0000819793 us-gaap:CorporateNonSegmentMember 2018-01-01 2018-12-31 0000819793 ain:IncreaseDecreaseAttributableApplicationOfASC606Member ain:MachineClothingMember 2018-01-01 2018-12-31 0000819793 ain:IncreaseDecreaseAttributableApplicationOfASC606Member 2018-01-01 2018-12-31 0000819793 ain:IncreaseDecreaseAttributableApplicationOfASC606Member ain:EngineeredCompositesMember 2018-01-01 2018-12-31 0000819793 us-gaap:CorporateNonSegmentMember ain:IncreaseDecreaseAttributableApplicationOfASC606Member 2018-01-01 2018-12-31 0000819793 ain:MachineClothingMember 2019-01-01 2019-12-31 0000819793 ain:EngineeredCompositesMember 2019-01-01 2019-12-31 0000819793 us-gaap:CorporateNonSegmentMember 2019-01-01 2019-12-31 0000819793 ain:CirCompGmbhMember 2019-11-21 2019-12-31 0000819793 us-gaap:MaterialReconcilingItemsMember 2017-01-01 2017-12-31 0000819793 us-gaap:MaterialReconcilingItemsMember 2018-01-01 2018-12-31 0000819793 us-gaap:MaterialReconcilingItemsMember ain:IncreaseDecreaseAttributableApplicationOfASC606Member 2018-01-01 2018-12-31 0000819793 us-gaap:MaterialReconcilingItemsMember 2019-01-01 2019-12-31 0000819793 us-gaap:InterestRateSwapMember 2017-01-01 2017-12-31 0000819793 us-gaap:InterestRateSwapMember 2018-01-01 2018-12-31 0000819793 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember ain:AccumulatedDefinedBenefitPlansSettlementsAndCurtailmentsMember 2017-01-01 2017-12-31 0000819793 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember us-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetPriorServiceCostCreditMember 2017-01-01 2017-12-31 0000819793 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember us-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetUnamortizedGainLossMember 2017-01-01 2017-12-31 0000819793 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember ain:AccumulatedDefinedBenefitPlansSettlementsAndCurtailmentsMember 2018-01-01 2018-12-31 0000819793 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember us-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetPriorServiceCostCreditMember 2018-01-01 2018-12-31 0000819793 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember us-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetUnamortizedGainLossMember 2018-01-01 2018-12-31 0000819793 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember ain:AccumulatedDefinedBenefitPlansSettlementsAndCurtailmentsMember 2019-01-01 2019-12-31 0000819793 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember us-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetPriorServiceCostCreditMember 2019-01-01 2019-12-31 0000819793 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember us-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetUnamortizedGainLossMember 2019-01-01 2019-12-31 0000819793 2017-01-01 2017-03-31 0000819793 2017-04-01 2017-06-30 0000819793 2017-07-01 2017-09-30 0000819793 2017-10-01 2017-12-31 0000819793 2018-10-01 2018-12-31 0000819793 2018-01-01 2018-03-31 0000819793 2018-04-01 2018-06-30 0000819793 2018-07-01 2018-09-30 0000819793 2019-01-01 2019-03-31 0000819793 2019-04-01 2019-06-30 0000819793 2019-07-01 2019-09-30 0000819793 2019-10-01 2019-12-31 0000819793 ain:SafranMember 2017-01-01 2017-12-31 0000819793 country:US 2017-01-01 2017-12-31 0000819793 country:CH 2017-01-01 2017-12-31 0000819793 country:BR 2017-01-01 2017-12-31 0000819793 country:CN 2017-01-01 2017-12-31 0000819793 country:FR 2017-01-01 2017-12-31 0000819793 country:MX 2017-01-01 2017-12-31 0000819793 ain:OtherCountriesMember 2017-01-01 2017-12-31 0000819793 ain:SafranMember 2018-01-01 2018-12-31 0000819793 country:US 2018-01-01 2018-12-31 0000819793 country:CH 2018-01-01 2018-12-31 0000819793 country:BR 2018-01-01 2018-12-31 0000819793 country:CN 2018-01-01 2018-12-31 0000819793 country:FR 2018-01-01 2018-12-31 0000819793 country:MX 2018-01-01 2018-12-31 0000819793 ain:OtherCountriesMember 2018-01-01 2018-12-31 0000819793 ain:PointInTimeRevenueRecognitionMember 2018-01-01 2018-12-31 0000819793 ain:OverTimeRevenueRecognitionMember 2018-01-01 2018-12-31 0000819793 ain:MachineClothingMember ain:PointInTimeRevenueRecognitionMember 2018-01-01 2018-12-31 0000819793 ain:MachineClothingMember ain:OverTimeRevenueRecognitionMember 2018-01-01 2018-12-31 0000819793 ain:EngineeredCompositesASCMember ain:PointInTimeRevenueRecognitionMember 2018-01-01 2018-12-31 0000819793 ain:EngineeredCompositesASCMember ain:OverTimeRevenueRecognitionMember 2018-01-01 2018-12-31 0000819793 ain:EngineeredCompositesASCMember 2018-01-01 2018-12-31 0000819793 ain:EngineeredCompositesOtherMember ain:PointInTimeRevenueRecognitionMember 2018-01-01 2018-12-31 0000819793 ain:EngineeredCompositesOtherMember ain:OverTimeRevenueRecognitionMember 2018-01-01 2018-12-31 0000819793 ain:EngineeredCompositesOtherMember 2018-01-01 2018-12-31 0000819793 ain:EngineeredCompositesMember ain:PointInTimeRevenueRecognitionMember 2018-01-01 2018-12-31 0000819793 ain:EngineeredCompositesMember ain:OverTimeRevenueRecognitionMember 2018-01-01 2018-12-31 0000819793 ain:AmericasPMCMember 2018-01-01 2018-12-31 0000819793 ain:EurasiaPMCMember 2018-01-01 2018-12-31 0000819793 ain:EngineeredFabricsMember 2018-01-01 2018-12-31 0000819793 ain:PointInTimeRevenueRecognitionMember 2019-01-01 2019-12-31 0000819793 ain:OverTimeRevenueRecognitionMember 2019-01-01 2019-12-31 0000819793 ain:MachineClothingMember ain:PointInTimeRevenueRecognitionMember 2019-01-01 2019-12-31 0000819793 ain:MachineClothingMember ain:OverTimeRevenueRecognitionMember 2019-01-01 2019-12-31 0000819793 ain:EngineeredCompositesASCMember ain:PointInTimeRevenueRecognitionMember 2019-01-01 2019-12-31 0000819793 ain:EngineeredCompositesASCMember ain:OverTimeRevenueRecognitionMember 2019-01-01 2019-12-31 0000819793 ain:EngineeredCompositesASCMember 2019-01-01 2019-12-31 0000819793 ain:EngineeredCompositesOtherMember ain:PointInTimeRevenueRecognitionMember 2019-01-01 2019-12-31 0000819793 ain:EngineeredCompositesOtherMember ain:OverTimeRevenueRecognitionMember 2019-01-01 2019-12-31 0000819793 ain:EngineeredCompositesOtherMember 2019-01-01 2019-12-31 0000819793 ain:EngineeredCompositesMember ain:PointInTimeRevenueRecognitionMember 2019-01-01 2019-12-31 0000819793 ain:EngineeredCompositesMember ain:OverTimeRevenueRecognitionMember 2019-01-01 2019-12-31 0000819793 ain:AmericasPMCMember 2019-01-01 2019-12-31 0000819793 ain:EurasiaPMCMember 2019-01-01 2019-12-31 0000819793 ain:EngineeredFabricsMember 2019-01-01 2019-12-31 0000819793 ain:SafranMember 2019-01-01 2019-12-31 0000819793 country:US 2019-01-01 2019-12-31 0000819793 country:FR 2019-01-01 2019-12-31 0000819793 ain:OtherCountriesMember 2019-01-01 2019-12-31 0000819793 ain:LongTermContractMember 2018-10-01 2018-12-31 0000819793 ain:LongTermContractMember 2017-10-01 2017-12-31 0000819793 ain:LongTermContractMember 2019-10-01 2019-12-31 0000819793 ain:TerminationAndOtherCostsMember ain:MachineClothingMember 2017-01-01 2017-12-31 0000819793 us-gaap:FacilityClosingMember ain:MachineClothingMember 2017-01-01 2017-12-31 0000819793 ain:TerminationAndOtherCostsMember ain:EngineeredCompositesMember 2017-01-01 2017-12-31 0000819793 us-gaap:FacilityClosingMember ain:EngineeredCompositesMember 2017-01-01 2017-12-31 0000819793 us-gaap:CorporateNonSegmentMember ain:TerminationAndOtherCostsMember 2017-01-01 2017-12-31 0000819793 us-gaap:CorporateNonSegmentMember us-gaap:FacilityClosingMember 2017-01-01 2017-12-31 0000819793 ain:TerminationAndOtherCostsMember 2017-01-01 2017-12-31 0000819793 us-gaap:FacilityClosingMember 2017-01-01 2017-12-31 0000819793 ain:TerminationAndOtherCostsMember 2018-01-01 2018-12-31 0000819793 us-gaap:FacilityClosingMember 2018-01-01 2018-12-31 0000819793 ain:TerminationAndOtherCostsMember ain:MachineClothingMember 2018-01-01 2018-12-31 0000819793 us-gaap:FacilityClosingMember ain:MachineClothingMember 2018-01-01 2018-12-31 0000819793 ain:TerminationAndOtherCostsMember ain:EngineeredCompositesMember 2018-01-01 2018-12-31 0000819793 us-gaap:CorporateNonSegmentMember ain:TerminationAndOtherCostsMember 2018-01-01 2018-12-31 0000819793 us-gaap:CorporateNonSegmentMember us-gaap:FacilityClosingMember 2018-01-01 2018-12-31 0000819793 us-gaap:FacilityClosingMember ain:EngineeredCompositesMember 2018-01-01 2018-12-31 0000819793 ain:TerminationAndOtherCostsMember 2019-01-01 2019-12-31 0000819793 us-gaap:FacilityClosingMember 2019-01-01 2019-12-31 0000819793 ain:TerminationAndOtherCostsMember ain:MachineClothingMember 2019-01-01 2019-12-31 0000819793 us-gaap:FacilityClosingMember ain:MachineClothingMember 2019-01-01 2019-12-31 0000819793 ain:TerminationAndOtherCostsMember ain:EngineeredCompositesMember 2019-01-01 2019-12-31 0000819793 us-gaap:FacilityClosingMember ain:EngineeredCompositesMember 2019-01-01 2019-12-31 0000819793 us-gaap:CorporateNonSegmentMember ain:TerminationAndOtherCostsMember 2019-01-01 2019-12-31 0000819793 us-gaap:CorporateNonSegmentMember us-gaap:FacilityClosingMember 2019-01-01 2019-12-31 0000819793 ain:McGoodwillMember 2017-12-31 0000819793 ain:AecGoodwillMember 2017-12-31 0000819793 ain:McGoodwillMember 2018-12-31 0000819793 ain:AecGoodwillMember 2018-12-31 0000819793 ain:McGoodwillMember 2019-12-31 0000819793 ain:AecGoodwillMember 2019-12-31 0000819793 2019-11-20 0000819793 srt:RestatementAdjustmentMember us-gaap:AccountingStandardsUpdate201811Member 2018-12-31 0000819793 ain:AsRestatedMember us-gaap:AccountingStandardsUpdate201811Member 2018-12-31 0000819793 ain:CirCompGmbhMember 2019-11-20 0000819793 country:US 2017-12-31 0000819793 country:CN 2017-12-31 0000819793 country:FR 2017-12-31 0000819793 country:KR 2017-12-31 0000819793 country:GB 2017-12-31 0000819793 country:CA 2017-12-31 0000819793 ain:OtherCountriesMember 2017-12-31 0000819793 country:MX 2017-12-31 0000819793 country:US 2018-12-31 0000819793 country:CN 2018-12-31 0000819793 country:FR 2018-12-31 0000819793 country:MX 2018-12-31 0000819793 country:KR 2018-12-31 0000819793 country:GB 2018-12-31 0000819793 country:CA 2018-12-31 0000819793 ain:OtherCountriesMember 2018-12-31 0000819793 country:US 2019-12-31 0000819793 country:CN 2019-12-31 0000819793 country:FR 2019-12-31 0000819793 country:MX 2019-12-31 0000819793 country:KR 2019-12-31 0000819793 country:GB 2019-12-31 0000819793 country:CA 2019-12-31 0000819793 ain:OtherCountriesMember 2019-12-31 0000819793 country:DE 2017-12-31 0000819793 country:DE 2018-12-31 0000819793 country:DE 2019-12-31 0000819793 ain:MachineClothingMember 2017-12-31 0000819793 ain:EngineeredCompositesMember 2017-12-31 0000819793 ain:MachineClothingMember 2018-12-31 0000819793 ain:EngineeredCompositesMember 2018-12-31 0000819793 ain:MachineClothingMember 2019-12-31 0000819793 ain:EngineeredCompositesMember 2019-12-31 0000819793 us-gaap:AssetsMember 2018-12-31 0000819793 us-gaap:PensionPlansDefinedBenefitMember 2018-12-31 0000819793 us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember 2018-12-31 0000819793 us-gaap:PensionPlansDefinedBenefitMember 2019-12-31 0000819793 us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember 2019-12-31 0000819793 us-gaap:AssetsMember 2019-12-31 0000819793 2016-12-31 0000819793 us-gaap:MaterialReconcilingItemsMember 2017-12-31 0000819793 us-gaap:MaterialReconcilingItemsMember 2018-12-31 0000819793 us-gaap:MaterialReconcilingItemsMember 2019-12-31 0000819793 ain:AlbanySafranCompositesLlcMember 2018-12-31 0000819793 ain:AlbanySafranCompositesLlcMember 2017-12-31 0000819793 ain:AlbanySafranCompositesLlcMember 2019-12-31 0000819793 us-gaap:AdditionalPaidInCapitalMember 2016-12-31 0000819793 us-gaap:RetainedEarningsMember 2016-12-31 0000819793 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2016-12-31 0000819793 us-gaap:NoncontrollingInterestMember 2016-12-31 0000819793 us-gaap:RetainedEarningsMember 2017-12-31 0000819793 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2017-12-31 0000819793 us-gaap:AdditionalPaidInCapitalMember 2017-12-31 0000819793 us-gaap:NoncontrollingInterestMember 2017-12-31 0000819793 us-gaap:AdditionalPaidInCapitalMember 2018-12-31 0000819793 us-gaap:RetainedEarningsMember 2018-12-31 0000819793 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-12-31 0000819793 us-gaap:NoncontrollingInterestMember 2018-12-31 0000819793 us-gaap:AdditionalPaidInCapitalMember 2019-12-31 0000819793 us-gaap:RetainedEarningsMember 2019-12-31 0000819793 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-12-31 0000819793 us-gaap:NoncontrollingInterestMember 2019-12-31 0000819793 srt:ScenarioPreviouslyReportedMember 2018-12-31 0000819793 srt:RestatementAdjustmentMember 2018-12-31 0000819793 ain:OpeningBalanceAsAdjustedMember 2018-12-31 0000819793 srt:ScenarioPreviouslyReportedMember us-gaap:CommonClassAMember 2017-12-31 0000819793 srt:ScenarioPreviouslyReportedMember us-gaap:CommonClassAMember 2018-12-31 0000819793 ain:NoncurrentAssetsMember us-gaap:DomesticCountryMember 2018-12-31 0000819793 ain:NoncurrentAssetsMember us-gaap:ForeignCountryMember 2018-12-31 0000819793 ain:NoncurrentAssetsMember us-gaap:DomesticCountryMember 2019-12-31 0000819793 ain:NoncurrentAssetsMember us-gaap:ForeignCountryMember 2019-12-31 0000819793 us-gaap:CommonClassAMember 2018-12-31 0000819793 us-gaap:CommonClassAMember 2019-12-31 0000819793 srt:RestatementAdjustmentMember us-gaap:AccountingStandardsUpdate201811Member us-gaap:CommonClassAMember 2018-12-31 0000819793 ain:AsRestatedMember us-gaap:AccountingStandardsUpdate201811Member us-gaap:CommonClassAMember 2018-12-31 0000819793 srt:RestatementAdjustmentMember us-gaap:AccountingStandardsUpdate201811Member us-gaap:CommonClassBMember 2018-12-31 0000819793 ain:AsRestatedMember us-gaap:AccountingStandardsUpdate201811Member us-gaap:CommonClassBMember 2018-12-31 0000819793 us-gaap:ForeignCountryMember 2018-12-31 0000819793 us-gaap:DomesticCountryMember 2018-12-31 0000819793 us-gaap:DomesticCountryMember 2019-12-31 0000819793 us-gaap:ForeignCountryMember 2019-12-31 0000819793 country:US 2019-12-31 0000819793 ain:TaxAttributesWithLimitedLivesMember 2019-12-31 0000819793 country:US 2018-12-31 0000819793 us-gaap:ForeignPlanMember 2018-12-31 0000819793 ain:DomesticPostretirementBenefitPlansMember 2018-12-31 0000819793 ain:ForeignPostretirementBenefitPlansMember 2018-12-31 0000819793 country:US 2019-12-31 0000819793 us-gaap:ForeignPlanMember 2019-12-31 0000819793 ain:DomesticPostretirementBenefitPlansMember 2019-12-31 0000819793 ain:ForeignPostretirementBenefitPlansMember 2019-12-31 0000819793 us-gaap:EquitySecuritiesMember country:US 2018-12-31 0000819793 us-gaap:DebtSecuritiesMember country:US 2018-12-31 0000819793 us-gaap:RealEstateMember country:US 2018-12-31 0000819793 us-gaap:OtherInvestmentsMember country:US 2018-12-31 0000819793 us-gaap:EquitySecuritiesMember us-gaap:ForeignPlanMember 2018-12-31 0000819793 us-gaap:DebtSecuritiesMember us-gaap:ForeignPlanMember 2018-12-31 0000819793 us-gaap:RealEstateMember us-gaap:ForeignPlanMember 2018-12-31 0000819793 us-gaap:OtherInvestmentsMember us-gaap:ForeignPlanMember 2018-12-31 0000819793 us-gaap:EquitySecuritiesMember country:US 2019-12-31 0000819793 us-gaap:DebtSecuritiesMember country:US 2019-12-31 0000819793 us-gaap:RealEstateMember country:US 2019-12-31 0000819793 us-gaap:OtherInvestmentsMember country:US 2019-12-31 0000819793 us-gaap:EquitySecuritiesMember us-gaap:ForeignPlanMember 2019-12-31 0000819793 us-gaap:DebtSecuritiesMember us-gaap:ForeignPlanMember 2019-12-31 0000819793 us-gaap:RealEstateMember us-gaap:ForeignPlanMember 2019-12-31 0000819793 us-gaap:OtherInvestmentsMember us-gaap:ForeignPlanMember 2019-12-31 0000819793 us-gaap:PensionPlansDefinedBenefitMember 2017-12-31 0000819793 us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember 2017-12-31 0000819793 ain:InsuranceContractsMember us-gaap:FairValueInputsLevel3Member country:US 2017-12-31 0000819793 us-gaap:EquitySecuritiesMember us-gaap:FairValueInputsLevel1Member us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember 2018-12-31 0000819793 us-gaap:EquitySecuritiesMember us-gaap:FairValueInputsLevel2Member us-gaap:PensionPlansDefinedBenefitMember 2018-12-31 0000819793 us-gaap:EquitySecuritiesMember us-gaap:FairValueInputsLevel3Member us-gaap:PensionPlansDefinedBenefitMember 2018-12-31 0000819793 us-gaap:EquitySecuritiesMember us-gaap:PensionPlansDefinedBenefitMember 2018-12-31 0000819793 us-gaap:DebtSecuritiesMember us-gaap:FairValueInputsLevel1Member us-gaap:PensionPlansDefinedBenefitMember 2018-12-31 0000819793 us-gaap:DebtSecuritiesMember us-gaap:FairValueInputsLevel2Member us-gaap:PensionPlansDefinedBenefitMember 2018-12-31 0000819793 us-gaap:DebtSecuritiesMember us-gaap:FairValueInputsLevel3Member us-gaap:PensionPlansDefinedBenefitMember 2018-12-31 0000819793 us-gaap:DebtSecuritiesMember us-gaap:PensionPlansDefinedBenefitMember 2018-12-31 0000819793 ain:InsuranceContractsMember us-gaap:FairValueInputsLevel1Member us-gaap:PensionPlansDefinedBenefitMember 2018-12-31 0000819793 ain:InsuranceContractsMember us-gaap:FairValueInputsLevel2Member us-gaap:PensionPlansDefinedBenefitMember 2018-12-31 0000819793 ain:InsuranceContractsMember us-gaap:FairValueInputsLevel3Member us-gaap:PensionPlansDefinedBenefitMember 2018-12-31 0000819793 ain:InsuranceContractsMember us-gaap:PensionPlansDefinedBenefitMember 2018-12-31 0000819793 ain:CashAndShortTermInvestmentsMember us-gaap:FairValueInputsLevel1Member us-gaap:PensionPlansDefinedBenefitMember 2018-12-31 0000819793 ain:CashAndShortTermInvestmentsMember us-gaap:FairValueInputsLevel2Member us-gaap:PensionPlansDefinedBenefitMember 2018-12-31 0000819793 ain:CashAndShortTermInvestmentsMember us-gaap:FairValueInputsLevel3Member us-gaap:PensionPlansDefinedBenefitMember 2018-12-31 0000819793 ain:CashAndShortTermInvestmentsMember us-gaap:PensionPlansDefinedBenefitMember 2018-12-31 0000819793 us-gaap:FairValueInputsLevel1Member us-gaap:PensionPlansDefinedBenefitMember 2018-12-31 0000819793 us-gaap:FairValueInputsLevel2Member us-gaap:PensionPlansDefinedBenefitMember 2018-12-31 0000819793 us-gaap:FairValueInputsLevel3Member us-gaap:PensionPlansDefinedBenefitMember 2018-12-31 0000819793 us-gaap:PortionAtFairValueFairValueDisclosureMember us-gaap:PensionPlansDefinedBenefitMember 2018-12-31 0000819793 ain:InsuranceContractsMember us-gaap:FairValueInputsLevel3Member country:US 2018-12-31 0000819793 us-gaap:EquitySecuritiesMember us-gaap:FairValueInputsLevel1Member us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember 2019-12-31 0000819793 us-gaap:EquitySecuritiesMember us-gaap:FairValueInputsLevel2Member us-gaap:PensionPlansDefinedBenefitMember 2019-12-31 0000819793 us-gaap:EquitySecuritiesMember us-gaap:FairValueInputsLevel3Member us-gaap:PensionPlansDefinedBenefitMember 2019-12-31 0000819793 us-gaap:EquitySecuritiesMember us-gaap:PensionPlansDefinedBenefitMember 2019-12-31 0000819793 us-gaap:DebtSecuritiesMember us-gaap:FairValueInputsLevel1Member us-gaap:PensionPlansDefinedBenefitMember 2019-12-31 0000819793 us-gaap:DebtSecuritiesMember us-gaap:FairValueInputsLevel2Member us-gaap:PensionPlansDefinedBenefitMember 2019-12-31 0000819793 us-gaap:DebtSecuritiesMember us-gaap:FairValueInputsLevel3Member us-gaap:PensionPlansDefinedBenefitMember 2019-12-31 0000819793 us-gaap:DebtSecuritiesMember us-gaap:PensionPlansDefinedBenefitMember 2019-12-31 0000819793 ain:InsuranceContractsMember us-gaap:FairValueInputsLevel1Member us-gaap:PensionPlansDefinedBenefitMember 2019-12-31 0000819793 ain:InsuranceContractsMember us-gaap:FairValueInputsLevel2Member us-gaap:PensionPlansDefinedBenefitMember 2019-12-31 0000819793 ain:InsuranceContractsMember us-gaap:FairValueInputsLevel3Member us-gaap:PensionPlansDefinedBenefitMember 2019-12-31 0000819793 ain:InsuranceContractsMember us-gaap:PensionPlansDefinedBenefitMember 2019-12-31 0000819793 ain:CashAndShortTermInvestmentsMember us-gaap:FairValueInputsLevel2Member us-gaap:PensionPlansDefinedBenefitMember 2019-12-31 0000819793 ain:CashAndShortTermInvestmentsMember us-gaap:FairValueInputsLevel3Member us-gaap:PensionPlansDefinedBenefitMember 2019-12-31 0000819793 ain:CashAndShortTermInvestmentsMember us-gaap:PensionPlansDefinedBenefitMember 2019-12-31 0000819793 us-gaap:FairValueInputsLevel1Member us-gaap:PensionPlansDefinedBenefitMember 2019-12-31 0000819793 us-gaap:FairValueInputsLevel2Member us-gaap:PensionPlansDefinedBenefitMember 2019-12-31 0000819793 us-gaap:FairValueInputsLevel3Member us-gaap:PensionPlansDefinedBenefitMember 2019-12-31 0000819793 us-gaap:PortionAtFairValueFairValueDisclosureMember us-gaap:PensionPlansDefinedBenefitMember 2019-12-31 0000819793 ain:CashAndShortTermInvestmentsMember us-gaap:FairValueInputsLevel1Member us-gaap:PensionPlansDefinedBenefitMember 2019-12-31 0000819793 ain:InsuranceContractsMember us-gaap:FairValueInputsLevel3Member country:US 2019-12-31 0000819793 us-gaap:ForeignPlanMember 2017-01-01 2017-12-31 0000819793 ain:DomesticPostretirementBenefitPlansMember 2017-01-01 2017-12-31 0000819793 ain:ForeignPostretirementBenefitPlansMember 2017-01-01 2017-12-31 0000819793 country:US 2017-01-01 2017-12-31 0000819793 country:US 2018-01-01 2018-12-31 0000819793 us-gaap:ForeignPlanMember 2018-01-01 2018-12-31 0000819793 ain:DomesticPostretirementBenefitPlansMember 2018-01-01 2018-12-31 0000819793 ain:ForeignPostretirementBenefitPlansMember 2018-01-01 2018-12-31 0000819793 country:US 2019-01-01 2019-12-31 0000819793 us-gaap:ForeignPlanMember 2019-01-01 2019-12-31 0000819793 ain:DomesticPostretirementBenefitPlansMember 2019-01-01 2019-12-31 0000819793 ain:ForeignPostretirementBenefitPlansMember 2019-01-01 2019-12-31 0000819793 us-gaap:EmployeeSeveranceMember 2018-01-01 2018-12-31 0000819793 us-gaap:EmployeeSeveranceMember 2019-01-01 2019-12-31 0000819793 ain:Restructuring2016Member 2017-01-01 2017-12-31 0000819793 ain:Restructuring2016Member 2018-01-01 2018-12-31 0000819793 ain:Restructuring2016Member 2019-01-01 2019-12-31 0000819793 us-gaap:EmployeeSeveranceMember 2017-12-31 0000819793 us-gaap:EmployeeSeveranceMember 2018-12-31 0000819793 us-gaap:EmployeeSeveranceMember 2019-12-31 0000819793 us-gaap:CommonClassAMember 2020-02-19 0000819793 us-gaap:CommonClassBMember 2020-02-19 0000819793 srt:RestatementAdjustmentMember us-gaap:CommonClassAMember 2017-12-31 0000819793 ain:OpeningBalanceAsAdjustedMember us-gaap:CommonClassAMember 2017-12-31 0000819793 srt:RestatementAdjustmentMember us-gaap:CommonClassAMember 2018-12-31 0000819793 ain:OpeningBalanceAsAdjustedMember us-gaap:CommonClassAMember 2018-12-31 0000819793 ain:CirCompGmbhMember 2019-11-01 2019-11-20 0000819793 ain:UsPensionPlansWithAssetsMember 2019-12-31 0000819793 ain:UsPlansWithoutAssetsMember 2019-12-31 0000819793 ain:NonUsPlansWithAssetsMember 2019-12-31 0000819793 ain:NonUsPlansWithoutAssetsMember 2019-12-31 0000819793 ain:PensionPlansWithPensionAssetsMember 2019-12-31 0000819793 ain:PensionPlansWithoutPensionAssetsMember 2019-12-31 0000819793 ain:AlbanyAerostructuresCompositesLlcMember 2018-12-31 0000819793 ain:AlbanyAerostructuresCompositesLlcMember 2019-12-31 0000819793 ain:RussiaEntityMember 2018-12-31 0000819793 ain:RussiaEntityMember 2019-12-31 0000819793 country:US 2019-12-31 0000819793 country:CA 2019-12-31 0000819793 ain:InsuranceContractsMember us-gaap:FairValueInputsLevel3Member country:US 2018-01-01 2018-12-31 0000819793 ain:InsuranceContractsMember us-gaap:FairValueInputsLevel3Member country:US 2019-01-01 2019-12-31 0000819793 ain:AdoptedASC842Member 2019-12-31 0000819793 ain:AECAssetsMember 2019-01-01 2019-12-31 0000819793 2019-11-02 2019-11-20 0000819793 ain:SaltLakeCityUtahMember 2019-01-01 2019-12-31 0000819793 us-gaap:FixedIncomeSecuritiesMember us-gaap:PensionPlansDefinedBenefitMember 2018-12-31 0000819793 ain:LimitedPartnershipsMember us-gaap:PensionPlansDefinedBenefitMember 2018-12-31 0000819793 us-gaap:HedgeFundsMember us-gaap:PensionPlansDefinedBenefitMember 2018-12-31 0000819793 us-gaap:FixedIncomeSecuritiesMember us-gaap:PensionPlansDefinedBenefitMember 2019-12-31 0000819793 ain:LimitedPartnershipsMember us-gaap:PensionPlansDefinedBenefitMember 2019-12-31 0000819793 us-gaap:HedgeFundsMember us-gaap:PensionPlansDefinedBenefitMember 2019-12-31 0000819793 us-gaap:CommonClassAMember 2019-01-01 2019-12-31 0000819793 us-gaap:CommonClassBMember 2019-01-01 2019-12-31 0000819793 ain:NoncurrentLiabilitiesMember us-gaap:DomesticCountryMember 2018-12-31 0000819793 ain:NoncurrentLiabilitiesMember us-gaap:ForeignCountryMember 2018-12-31 0000819793 ain:NoncurrentLiabilitiesMember us-gaap:DomesticCountryMember 2019-12-31 0000819793 ain:NoncurrentLiabilitiesMember us-gaap:ForeignCountryMember 2019-12-31 0000819793 us-gaap:AccumulatedTranslationAdjustmentMember 2017-12-31 0000819793 us-gaap:AccumulatedTranslationAdjustmentMember 2018-12-31 0000819793 us-gaap:AccumulatedTranslationAdjustmentMember 2016-12-31 0000819793 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2017-12-31 0000819793 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2018-12-31 0000819793 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2016-12-31 0000819793 us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember 2017-12-31 0000819793 us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember 2018-12-31 0000819793 us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember 2016-12-31 0000819793 us-gaap:AccumulatedTranslationAdjustmentMember 2019-12-31 0000819793 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2019-12-31 0000819793 us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember 2019-12-31 0000819793 us-gaap:AccumulatedTranslationAdjustmentMember 2017-01-01 2017-12-31 0000819793 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2017-01-01 2017-12-31 0000819793 us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember 2017-01-01 2017-12-31 0000819793 us-gaap:AccumulatedTranslationAdjustmentMember 2018-01-01 2018-12-31 0000819793 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2018-01-01 2018-12-31 0000819793 us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember 2018-01-01 2018-12-31 0000819793 us-gaap:AccumulatedTranslationAdjustmentMember 2019-01-01 2019-12-31 0000819793 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2019-01-01 2019-12-31 0000819793 us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember 2019-01-01 2019-12-31 0000819793 ain:AlbanySafranCompositesLlcMember 2013-10-01 2013-10-31 0000819793 ain:ASC606Member 2017-01-01 2017-12-31 0000819793 us-gaap:LandAndLandImprovementsMember 2018-12-31 0000819793 us-gaap:BuildingMember 2018-12-31 0000819793 us-gaap:MachineryAndEquipmentMember 2018-12-31 0000819793 us-gaap:FurnitureAndFixturesMember 2018-12-31 0000819793 us-gaap:ComputerEquipmentMember 2018-12-31 0000819793 us-gaap:SoftwareAndSoftwareDevelopmentCostsMember 2018-12-31 0000819793 us-gaap:ConstructionInProgressMember 2018-12-31 0000819793 us-gaap:LandAndLandImprovementsMember 2019-12-31 0000819793 us-gaap:BuildingMember 2019-12-31 0000819793 us-gaap:MachineryAndEquipmentMember 2019-12-31 0000819793 us-gaap:FurnitureAndFixturesMember 2019-12-31 0000819793 us-gaap:ComputerEquipmentMember 2019-12-31 0000819793 us-gaap:SoftwareAndSoftwareDevelopmentCostsMember 2019-12-31 0000819793 us-gaap:ConstructionInProgressMember 2019-12-31 0000819793 ain:RightOfUseAssetsMember 2019-12-31 0000819793 us-gaap:LandAndLandImprovementsMember 2019-01-01 2019-12-31 0000819793 srt:MinimumMember us-gaap:BuildingMember 2019-01-01 2019-12-31 0000819793 srt:MaximumMember us-gaap:BuildingMember 2019-01-01 2019-12-31 0000819793 srt:MinimumMember us-gaap:MachineryAndEquipmentMember 2019-01-01 2019-12-31 0000819793 srt:MaximumMember us-gaap:MachineryAndEquipmentMember 2019-01-01 2019-12-31 0000819793 us-gaap:FurnitureAndFixturesMember 2019-01-01 2019-12-31 0000819793 srt:MinimumMember us-gaap:ComputerEquipmentMember 2019-01-01 2019-12-31 0000819793 srt:MaximumMember us-gaap:ComputerEquipmentMember 2019-01-01 2019-12-31 0000819793 srt:MinimumMember us-gaap:SoftwareAndSoftwareDevelopmentCostsMember 2019-01-01 2019-12-31 0000819793 srt:MaximumMember us-gaap:SoftwareAndSoftwareDevelopmentCostsMember 2019-01-01 2019-12-31 0000819793 srt:MinimumMember ain:RightOfUseAssetsMember 2019-01-01 2019-12-31 0000819793 srt:MaximumMember ain:RightOfUseAssetsMember 2019-01-01 2019-12-31 0000819793 us-gaap:CostOfSalesMember 2017-01-01 2017-12-31 0000819793 us-gaap:SellingGeneralAndAdministrativeExpensesMember 2017-01-01 2017-12-31 0000819793 us-gaap:CostOfSalesMember 2018-01-01 2018-12-31 0000819793 us-gaap:SellingGeneralAndAdministrativeExpensesMember 2018-01-01 2018-12-31 0000819793 us-gaap:TradeNamesMember 2018-01-01 2018-12-31 0000819793 us-gaap:DevelopedTechnologyRightsMember 2018-01-01 2018-12-31 0000819793 us-gaap:CustomerContractsMember 2018-01-01 2018-12-31 0000819793 us-gaap:CustomerRelationshipsMember 2018-01-01 2018-12-31 0000819793 us-gaap:OtherIntangibleAssetsMember 2018-01-01 2018-12-31 0000819793 us-gaap:CostOfSalesMember 2019-01-01 2019-12-31 0000819793 us-gaap:SellingGeneralAndAdministrativeExpensesMember 2019-01-01 2019-12-31 0000819793 us-gaap:TradeNamesMember 2019-01-01 2019-12-31 0000819793 us-gaap:DevelopedTechnologyRightsMember 2019-01-01 2019-12-31 0000819793 us-gaap:CustomerContractsMember 2019-01-01 2019-12-31 0000819793 us-gaap:CustomerRelationshipsMember 2019-01-01 2019-12-31 0000819793 us-gaap:OtherIntangibleAssetsMember 2019-01-01 2019-12-31 0000819793 2019-11-01 2019-11-20 0000819793 us-gaap:IntellectualPropertyMember 2019-01-01 2019-12-31 0000819793 srt:MinimumMember us-gaap:TradeNamesMember 2019-01-01 2019-12-31 0000819793 srt:MaximumMember us-gaap:TradeNamesMember 2019-01-01 2019-12-31 0000819793 srt:MinimumMember us-gaap:DevelopedTechnologyRightsMember 2019-01-01 2019-12-31 0000819793 srt:MaximumMember us-gaap:DevelopedTechnologyRightsMember 2019-01-01 2019-12-31 0000819793 srt:MinimumMember us-gaap:CustomerRelationshipsMember 2019-01-01 2019-12-31 0000819793 srt:MaximumMember us-gaap:CustomerRelationshipsMember 2019-01-01 2019-12-31 0000819793 us-gaap:TradeNamesMember 2017-12-31 0000819793 us-gaap:DevelopedTechnologyRightsMember 2017-12-31 0000819793 us-gaap:CustomerContractsMember 2017-12-31 0000819793 us-gaap:CustomerRelationshipsMember 2017-12-31 0000819793 us-gaap:OtherIntangibleAssetsMember 2017-12-31 0000819793 us-gaap:TradeNamesMember 2018-12-31 0000819793 us-gaap:DevelopedTechnologyRightsMember 2018-12-31 0000819793 us-gaap:CustomerContractsMember 2018-12-31 0000819793 us-gaap:CustomerRelationshipsMember 2018-12-31 0000819793 us-gaap:OtherIntangibleAssetsMember 2018-12-31 0000819793 us-gaap:TradeNamesMember 2019-12-31 0000819793 us-gaap:DevelopedTechnologyRightsMember 2019-12-31 0000819793 us-gaap:CustomerContractsMember 2019-12-31 0000819793 us-gaap:CustomerRelationshipsMember 2019-12-31 0000819793 us-gaap:OtherIntangibleAssetsMember 2019-12-31 0000819793 us-gaap:IntellectualPropertyMember 2018-12-31 0000819793 us-gaap:IntellectualPropertyMember 2019-12-31 0000819793 ain:McGoodwillMember 2019-01-01 2019-12-31 0000819793 ain:AecGoodwillMember 2019-01-01 2019-12-31 0000819793 ain:McGoodwillMember 2018-01-01 2018-12-31 0000819793 ain:AecGoodwillMember 2018-01-01 2018-12-31 0000819793 ain:SaltLakeCityUtahMember 2019-12-31 0000819793 ain:AfterAcquiredCirCompGmbhMember 2019-01-01 2019-12-31 0000819793 ain:AfterAcquiredCirCompGmbhOneMember 2019-01-01 2019-12-31 0000819793 ain:FinanceObligationsMember 2019-01-01 2019-12-31 0000819793 us-gaap:LineOfCreditMember 2016-04-08 0000819793 us-gaap:LineOfCreditMember 2017-11-07 0000819793 us-gaap:InterestRateSwapMember us-gaap:LineOfCreditMember 2016-05-06 0000819793 us-gaap:InterestRateSwapMember us-gaap:LineOfCreditMember 2017-11-27 0000819793 us-gaap:LineOfCreditMember 2019-12-31 0000819793 us-gaap:InterestRateSwapMember us-gaap:LineOfCreditMember 2017-11-28 0000819793 us-gaap:InterestRateSwapMember us-gaap:LineOfCreditMember 2019-12-16 0000819793 us-gaap:LineOfCreditMember 2019-01-01 2019-12-31 0000819793 srt:MinimumMember us-gaap:LineOfCreditMember 2019-01-01 2019-12-31 0000819793 srt:MaximumMember us-gaap:LineOfCreditMember 2019-01-01 2019-12-31 0000819793 us-gaap:LineOfCreditMember 2018-12-31 0000819793 ain:FinanceObligationsMember 2019-12-31 0000819793 ain:FinanceObligationsMember 2018-12-31 0000819793 ain:InterestRateSwapBuyoutsMember 2017-01-01 2017-12-31 0000819793 ain:InterestRateSwapBuyoutsMember 2018-01-01 2018-12-31 0000819793 us-gaap:InterestRateSwapMember 2019-01-01 2019-12-31 0000819793 ain:InterestRateSwapBuyoutsMember 2019-01-01 2019-12-31 0000819793 ain:InterestRateSwapBuyoutsMember us-gaap:SubsequentEventMember 2020-01-01 2020-01-31 0000819793 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000819793 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000819793 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0000819793 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0000819793 us-gaap:InterestRateSwapMember 2018-12-31 0000819793 us-gaap:InterestRateSwapMember 2019-12-31 0000819793 us-gaap:ForeignExchangeOptionMember us-gaap:NondesignatedMember 2017-01-01 2017-12-31 0000819793 us-gaap:ForeignExchangeOptionMember us-gaap:NondesignatedMember 2018-01-01 2018-12-31 0000819793 us-gaap:ForeignExchangeOptionMember us-gaap:NondesignatedMember 2019-01-01 2019-12-31 0000819793 us-gaap:OtherNoncurrentLiabilitiesMember 2019-12-31 0000819793 srt:MinimumMember 2019-01-01 2019-12-31 0000819793 srt:MaximumMember 2019-01-01 2019-12-31 0000819793 srt:MaximumMember 2019-12-31 0000819793 us-gaap:AccountsPayableAndAccruedLiabilitiesMember 2019-12-31 0000819793 ain:AECAssetsMember 2018-01-01 2018-12-31 0000819793 ain:AECAssetsMember 2017-01-01 2017-12-31 0000819793 ain:SeveranceMember 2018-01-01 2018-12-31 0000819793 ain:WriteOffOfIntangibleAssetsAndEquipmentMember 2017-01-01 2017-12-31 0000819793 us-gaap:CostOfGoodsTotalMember 2017-01-01 2017-12-31 0000819793 ain:AECFacilityMember 2018-01-01 2018-12-31 0000819793 ain:AECFacilityNonCashMember 2018-01-01 2018-12-31 0000819793 ain:AECFacilityMember 2019-01-01 2019-12-31 0000819793 ain:MachineClothingMember 2016-01-01 2016-12-31 0000819793 us-gaap:StateAndLocalJurisdictionMember 2019-12-31 0000819793 country:DE 2019-01-01 2019-12-31 0000819793 us-gaap:DomesticCountryMember us-gaap:ResearchMember 2019-12-31 0000819793 us-gaap:ForeignCountryMember us-gaap:ResearchMember 2019-12-31 0000819793 us-gaap:ForeignCountryMember us-gaap:EarliestTaxYearMember 2019-01-01 2019-12-31 0000819793 us-gaap:ResearchMember us-gaap:EarliestTaxYearMember 2019-01-01 2019-12-31 0000819793 us-gaap:EarliestTaxYearMember 2019-01-01 2019-12-31 0000819793 us-gaap:LatestTaxYearMember 2019-01-01 2019-12-31 0000819793 country:CA 2019-01-01 2019-12-31 0000819793 2019-06-30 0000819793 us-gaap:AsbestosIssueMember ain:BrandonDryingFabricsIncMember 2019-12-31 0000819793 us-gaap:AsbestosIssueMember 2019-12-31 0000819793 us-gaap:AsbestosIssueMember 2013-12-31 0000819793 us-gaap:AsbestosIssueMember 2014-12-31 0000819793 us-gaap:AsbestosIssueMember 2016-12-31 0000819793 us-gaap:AsbestosIssueMember 2015-12-31 0000819793 us-gaap:AsbestosIssueMember 2017-12-31 0000819793 us-gaap:AsbestosIssueMember 2018-12-31 0000819793 us-gaap:AsbestosIssueMember 2014-01-01 2014-12-31 0000819793 us-gaap:AsbestosIssueMember 2015-01-01 2015-12-31 0000819793 us-gaap:AsbestosIssueMember 2016-01-01 2016-12-31 0000819793 us-gaap:AsbestosIssueMember 2017-01-01 2017-12-31 0000819793 us-gaap:AsbestosIssueMember 2018-01-01 2018-12-31 0000819793 us-gaap:AsbestosIssueMember 2019-01-01 2019-12-31 0000819793 us-gaap:EmployeeStockOptionMember 2019-01-01 2019-12-31 0000819793 us-gaap:EmployeeStockOptionMember 2019-12-31 0000819793 us-gaap:EmployeeStockOptionMember 2017-01-01 2017-12-31 0000819793 us-gaap:EmployeeStockOptionMember 2018-01-01 2018-12-31 0000819793 ain:LongTermIncentivePlanMember 2019-12-31 0000819793 srt:MinimumMember srt:ManagementMember ain:LongTermIncentivePlanMember 2019-01-01 2019-12-31 0000819793 srt:MaximumMember srt:ManagementMember ain:LongTermIncentivePlanMember 2019-01-01 2019-12-31 0000819793 ain:LongTermIncentivePlanMember 2017-03-01 2017-03-31 0000819793 srt:ManagementMember ain:LongTermIncentivePlanMember 2017-03-01 2017-03-31 0000819793 ain:LongTermIncentivePlanMember 2018-03-01 2018-03-31 0000819793 srt:ManagementMember ain:LongTermIncentivePlanMember 2018-03-01 2018-03-31 0000819793 ain:LongTermIncentivePlanMember 2019-03-01 2019-03-31 0000819793 ain:LongTermIncentivePlanMember 2017-01-01 2017-12-31 0000819793 srt:ManagementMember ain:LongTermIncentivePlanMember 2017-01-01 2017-12-31 0000819793 us-gaap:PhantomShareUnitsPSUsMember 2017-01-01 2017-12-31 0000819793 srt:ManagementMember ain:LongTermIncentivePlanMember 2019-01-01 2019-12-31 0000819793 us-gaap:PhantomShareUnitsPSUsMember 2019-01-01 2019-12-31 0000819793 ain:LongTermIncentivePlanMember 2018-01-01 2018-12-31 0000819793 srt:ManagementMember ain:LongTermIncentivePlanMember 2018-01-01 2018-12-31 0000819793 us-gaap:PhantomShareUnitsPSUsMember 2018-01-01 2018-12-31 0000819793 us-gaap:RestrictedStockMember 2019-01-01 2019-12-31 0000819793 us-gaap:RestrictedStockMember 2018-01-01 2018-12-31 0000819793 srt:ManagementMember ain:LongTermIncentivePlanMember 2016-01-01 2016-12-31 0000819793 us-gaap:SubsequentEventMember 2020-01-01 2020-01-20 0000819793 us-gaap:PhantomShareUnitsPSUsMember 2019-12-31 0000819793 us-gaap:RestrictedStockMember 2019-12-31 0000819793 ain:LongTermIncentivePlanMember 2019-01-01 2019-12-31 0000819793 ain:ProfitSharingPlanMember 2017-01-01 2017-12-31 0000819793 us-gaap:PensionPlansDefinedBenefitMember 2017-01-01 2017-12-31 0000819793 us-gaap:PensionPlansDefinedBenefitMember 2018-01-01 2018-12-31 0000819793 ain:ProfitSharingPlanMember 2018-01-01 2018-12-31 0000819793 us-gaap:PensionPlansDefinedBenefitMember 2019-01-01 2019-12-31 0000819793 ain:ProfitSharingPlanMember 2019-01-01 2019-12-31 0000819793 srt:MinimumMember us-gaap:PensionPlansDefinedBenefitMember 2019-01-01 2019-12-31 0000819793 srt:MaximumMember us-gaap:PensionPlansDefinedBenefitMember 2019-01-01 2019-12-31 0000819793 us-gaap:EmployeeStockOptionMember 2017-12-31 0000819793 us-gaap:EmployeeStockOptionMember 2016-12-31 0000819793 us-gaap:EmployeeStockOptionMember 2018-12-31 0000819793 us-gaap:CommonClassAMember us-gaap:CommonStockMember 2017-01-01 2017-12-31 0000819793 us-gaap:CommonClassAMember us-gaap:CommonStockMember 2018-01-01 2018-12-31 0000819793 us-gaap:CommonClassAMember us-gaap:CommonStockMember 2019-01-01 2019-12-31 0000819793 us-gaap:PerformanceSharesMember 2016-12-31 0000819793 us-gaap:RestrictedStockMember 2016-12-31 0000819793 us-gaap:PerformanceSharesMember 2017-12-31 0000819793 us-gaap:RestrictedStockMember 2017-12-31 0000819793 us-gaap:PerformanceSharesMember 2018-12-31 0000819793 us-gaap:PerformanceSharesMember 2019-12-31 0000819793 us-gaap:RestrictedStockMember 2018-12-31 0000819793 us-gaap:RestrictedStockMember 2017-01-01 2017-12-31 0000819793 us-gaap:PerformanceSharesMember 2017-01-01 2017-12-31 0000819793 us-gaap:PerformanceSharesMember 2018-01-01 2018-12-31 0000819793 us-gaap:PerformanceSharesMember 2019-01-01 2019-12-31 0000819793 us-gaap:AdditionalPaidInCapitalMember 2017-01-01 2017-12-31 0000819793 us-gaap:AdditionalPaidInCapitalMember 2018-01-01 2018-12-31 0000819793 us-gaap:AdditionalPaidInCapitalMember 2019-01-01 2019-12-31 0000819793 us-gaap:TreasuryStockMember 2017-01-01 2017-12-31 0000819793 us-gaap:TreasuryStockMember 2018-01-01 2018-12-31 0000819793 us-gaap:TreasuryStockMember 2019-01-01 2019-12-31 0000819793 us-gaap:CommonClassAMember 2018-01-01 2018-12-31 0000819793 us-gaap:CommonClassAMember 2017-01-01 2017-12-31 0000819793 us-gaap:CommonClassBMember 2018-01-01 2018-12-31 0000819793 us-gaap:CommonClassBMember 2017-01-01 2017-12-31 0000819793 us-gaap:CommonClassAMember us-gaap:RetainedEarningsMember 2019-01-01 2019-12-31 0000819793 us-gaap:CommonClassAMember us-gaap:RetainedEarningsMember 2018-01-01 2018-12-31 0000819793 us-gaap:CommonClassAMember us-gaap:RetainedEarningsMember 2017-01-01 2017-12-31 0000819793 us-gaap:CommonClassBMember us-gaap:RetainedEarningsMember 2019-01-01 2019-12-31 0000819793 us-gaap:CommonClassBMember us-gaap:RetainedEarningsMember 2018-01-01 2018-12-31 0000819793 us-gaap:CommonClassBMember us-gaap:RetainedEarningsMember 2017-01-01 2017-12-31 0000819793 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2017-01-01 2017-12-31 0000819793 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-01-01 2018-12-31 0000819793 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-01-01 2019-12-31 0000819793 srt:MinimumMember 2017-01-01 2017-03-31 0000819793 srt:MaximumMember 2017-01-01 2017-03-31 0000819793 srt:MaximumMember 2017-04-01 2017-06-30 0000819793 srt:MinimumMember 2017-04-01 2017-06-30 0000819793 srt:MaximumMember 2017-07-01 2017-09-30 0000819793 srt:MinimumMember 2017-07-01 2017-09-30 0000819793 srt:MaximumMember 2017-10-01 2017-12-31 0000819793 srt:MinimumMember 2017-10-01 2017-12-31 0000819793 srt:MaximumMember 2018-01-01 2018-03-31 0000819793 srt:MinimumMember 2018-01-01 2018-03-31 0000819793 srt:MaximumMember 2018-04-01 2018-06-30 0000819793 srt:MinimumMember 2018-04-01 2018-06-30 0000819793 srt:MaximumMember 2018-07-01 2018-09-30 0000819793 srt:MinimumMember 2018-07-01 2018-09-30 0000819793 srt:MaximumMember 2018-10-01 2018-12-31 0000819793 srt:MinimumMember 2018-10-01 2018-12-31 0000819793 srt:MaximumMember 2019-01-01 2019-03-31 0000819793 srt:MinimumMember 2019-01-01 2019-03-31 0000819793 srt:MaximumMember 2019-04-01 2019-06-30 0000819793 srt:MinimumMember 2019-04-01 2019-06-30 0000819793 srt:MaximumMember 2019-07-01 2019-09-30 0000819793 srt:MinimumMember 2019-07-01 2019-09-30 0000819793 srt:MaximumMember 2019-10-01 2019-12-31 0000819793 srt:MinimumMember 2019-10-01 2019-12-31 0000819793 ain:NumberOfSharesReducedMember us-gaap:CommonClassAMember us-gaap:IPOMember 2019-12-31 0000819793 us-gaap:CommonClassAMember 2006-08-31 0000819793 ain:ASC2016Member 2017-01-01 2017-12-31 0000819793 ain:ASC842Member 2018-01-01 2018-12-31 0000819793 ain:StandishFamilyHoldingsLlcMember us-gaap:CommonClassBMember 2019-04-01 2019-06-30 0000819793 us-gaap:CommonClassAMember 2017-12-31 0000819793 us-gaap:CommonClassBMember 2017-12-31 0000819793 us-gaap:InterestRateSwapMember us-gaap:LineOfCreditMember 2018-12-18 0000819793 us-gaap:ValuationAllowanceOfDeferredTaxAssetsMember 2016-12-31 0000819793 us-gaap:ValuationAllowanceOfDeferredTaxAssetsMember 2017-12-31 0000819793 us-gaap:ValuationAllowanceOfDeferredTaxAssetsMember 2018-12-31 0000819793 us-gaap:AllowanceForCreditLossMember 2017-12-31 0000819793 us-gaap:AllowanceForCreditLossMember 2018-12-31 0000819793 us-gaap:AllowanceForCreditLossMember 2016-12-31 0000819793 ain:AllowanceForSaleReturnsMember 2017-12-31 0000819793 ain:AllowanceForSaleReturnsMember 2018-12-31 0000819793 ain:AllowanceForSaleReturnsMember 2016-12-31 0000819793 us-gaap:AllowanceForCreditLossMember 2019-12-31 0000819793 ain:AllowanceForSaleReturnsMember 2019-12-31 0000819793 us-gaap:ValuationAllowanceOfDeferredTaxAssetsMember 2019-12-31 0000819793 us-gaap:AllowanceForCreditLossMember 2017-01-01 2017-12-31 0000819793 us-gaap:ValuationAllowanceOfDeferredTaxAssetsMember 2017-01-01 2017-12-31 0000819793 us-gaap:ValuationAllowanceOfDeferredTaxAssetsMember 2018-01-01 2018-12-31 0000819793 us-gaap:AllowanceForCreditLossMember 2018-01-01 2018-12-31 0000819793 ain:AllowanceForSaleReturnsMember 2018-01-01 2018-12-31 0000819793 ain:AllowanceForSaleReturnsMember 2017-01-01 2017-12-31 0000819793 us-gaap:AllowanceForCreditLossMember 2019-01-01 2019-12-31 0000819793 ain:AllowanceForSaleReturnsMember 2019-01-01 2019-12-31 0000819793 us-gaap:ValuationAllowanceOfDeferredTaxAssetsMember 2019-01-01 2019-12-31 iso4217:USD pure shares iso4217:USD shares ain:countries ain:claims ain:owners

0000819793 --12-31 2019 FY false

2022-12-31

1.00

2022-12-31

2021-12-31

2025-01-01

P5Y 10-K true 2019-12-31 false 1-10026 ALBANY INTERNATIONAL CORP. DE 14-0462060 216 Airport Drive Rochester NH 03867 603 330-5850 Class A Common Stock, $0.001 par value per share AIN NYSE Class B Common Stock, $0.001 par value per share AIN NYSE Yes No Yes Yes Large Accelerated Filer false false false 2500000000 30700000 1600000 Portions of the Registrant’s Proxy Statement for the Annual Meeting of Shareholders to be held on May 14, 2020.

1054132000

982479000

863717000

656431000

632730000

567434000

397701000

349749000

296283000

163651000

156189000

162942000

37569000 40582000 41174000

2905000

15570000

13491000

193576000

137408000

78676000

2729000

2118000

1511000

19650000

20242000

18602000

1557000

-4037000

-6877000

178212000

115247000

54708000

44829000

32228000

22123000

133383000

83019000

32585000

985000

128000

-526000

132398000

82891000

33111000

4.10

2.57

1.03

4.10

2.57

1.03

0.73

0.69

0.68

133383000

83019000

32585000

-8747000

-27383000

44162000

450000

1494000

-1796000

851000

2955000

-4420000

-4454000

-4453000

-4480000

-5175000

-5439000

1011000

146000

-1490000

-9512000

3832000

325000

74000

348000

-359000

408000

918000

13000

158000

22000

259000

37000

-566000

-2432000

979000

124000

115790000

60532000

80873000

975000

111000

-520000

114815000

60421000

81393000

195540000

197755000

218271000

223176000

79070000

57447000

95149000

85904000

6162000

7473000

24142000

21294000

618334000

593049000

466462000

462055000

52892000

49206000

180934000

164382000

51621000

62622000

41234000

45061000

62891000

41617000

1474368000

1417992000

65203000

52246000

125885000

129030000

20000

1224000

11611000 6806000

202719000

189306000

424009000

523707000

132725000

88277000

12226000

8422000

771679000

809712000

5.00

2000000

0.001

100000000

39098792

37450329

39000

37000

0.001

25000000

1617998

3233998

2000

3000

432518000

430555000

698496000

589645000

-122852000

-115976000

49994000

47109000

-3135000

4697000

8408770

8418620

256391000

256603000

698683000

605249000

4006000

3031000

702689000

608280000

1474368000

1417992000

133383000

83019000

32585000

62085000

68800000

61517000

8710000

10236000

10439000

13702000 8972000 -1264000

3119000

3707000

2870000

605000

459000

660000

450000 1494000

2063000

2203000

2133000

4149000

-9587000

19139000

21859000

19199000

10267000

8923000

968000

-3090000

2291000

5815000

4989000

-1390000

1402000

941000

10524000

9340000

2910000

-7393000

8209000

5303000

3979000

-824000

-799000

1341000 12249000 18766000

-6573000

-5479000

-10145000

3525000

7811000

2677000

200352000

132485000

64216000

30793000

67358000

81579000

85510000

597000

1307000

2127000

-98748000

-82886000

-87637000

45000000

26031000

115334000

120017000

29913000

84047000

1180000

2130000

6346000

-971000

-1652000

-1364000

112000

202000

597000

23251000

21926000

21869000

-100307000

-27258000

12867000

-3512000

-8313000

12539000

-2215000

14028000

1985000

197755000

183727000

181742000

195540000

197755000

183727000

1. Accounting Policies Basis of Consolidation The consolidated financial statements include the accounts of Albany International Corp. and its subsidiaries (the Company, Albany, we, us, or our) after elimination of intercompany transactions. We have a 50 percent interest in an entity in Russia. The consolidated financial statements include our original investment in the entity, plus our share of undistributed earnings or losses, in the account “Other Assets.” The Company owns 90 percent of the common equity of Albany Safran Composites, LLC (ASC) which is reported within the Albany Engineered Composites (AEC) segment. Additional information regarding that entity is included in Note 10. Estimates The preparation of the consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Estimates are used in accounting for, among other things, revenue recognition, contract profitability, allowances for doubtful accounts, rebates and sales allowances, inventory allowances, pension benefits, goodwill and intangible assets, contingencies, income tax related balances, and other accruals. Our estimates are based on historical experience and on various other assumptions, which are believed to be reasonable under the circumstances. Due to the inherent uncertainty involved in making estimates, actual results reported in future periods may differ from those estimates. Estimates and assumptions are reviewed periodically, and the effects of any revisions are reflected in the consolidated financial statements in the period they are determined to be necessary. Revenue Recognition Effective January 1, 2018, the Company adopted the provisions of ASC 606, Revenue from contracts with customers, using the modified retrospective (or cumulative effect) method for transition. Under this transition method, periods prior to 2018 were not restated and the cumulative effect of initially applying the new standard was recorded as an adjustment to Retained earnings at January 1, 2018. The standard replaces numerous requirements in U.S. GAAP, including industry-specific requirements, and provides companies with a single model for recognizing revenue from contracts with customers. We applied the new accounting standard to contracts which were not completed by December 31, 2017. In our Machine Clothing (MC) business segment, prior to 2018, we recorded revenue from the sale of a product when persuasive evidence of an arrangement existed, delivery had occurred, title was transferred, the selling price was fixed, and collectability was reasonably assured. Under the new standard, we recognize MC revenue when we satisfy our performance obligations related to the manufacture and delivery of a product, which, in certain cases, results in earlier recognition of revenue associated with these contracts. In our Albany Engineered Composites (AEC) business segment, revenue from a number of long-term contracts was, prior to 2018, recorded on the basis of the units-of-delivery method, which is considered an output method. Under the new standard, revenue from most of these contracts is recognized over time using an input method as the measure of progress, which generally results in earlier recognition of revenue. Prior to adoption of the new standard, the classification of revenue in excess of progress billings on long-term contracts was included in Accounts receivable. Under the new standard, such assets are considered Contract assets, which are rights to consideration that are conditional on something other than the passage of time, such as completion of remaining performance obligations. As a result of adoption of the new standard, such assets were reclassified at transition from Accounts receivable to Contract assets. In addition, under the new standard, we are required to limit our estimate of contract values to the period of the legally enforceable contract, which in many cases is considerably shorter than the contract period used under the former standard. While certain contracts are expected to be <div> 52 <hr style="border-top:1.5pt solid #000000;"/> <div style="page-break-after: always;"/> <a href="#t001">Index</a> </div> ALBANY INTERNATIONAL CORP. Notes to Consolidated Financial Statements 1. Accounting Policies — (continued) profitable over the course of the program life when including expected renewals, under the new standard, our estimate of contract revenues and costs is limited to the estimated value of enforceable rights and obligations, excluding anticipated renewals. In some cases, this shorter contract period may result in a loss contract provision at contract inception. Expected losses on projects include losses on contract options that are probable of exercise, excluding profitable options that often follow. Products and services provided under long-term contracts represent a significant portion of sales in the Albany Engineered Composites segment. We have a contract with a major customer for which revenue is recognized under a cost-plus-fee agreement. We also have fixed price long-term contracts, for which we use the percentage of completion (actual cost to estimated cost) method. That method requires significant judgment and estimation, which could be considerably different if the underlying circumstances were to change. When adjustments in estimated contract revenues or costs are required, any changes from prior estimates are included in earnings in the period the change occurs. The sum of net adjustments to the estimated profitability of long-term contracts increased AEC operating income by $10.8 million in 2019, decreased AEC operating income by $2.0 million in 2018, and decreased AEC operating income by $11.5 million in 2017. The favorable effects in 2019 were largely attributable to efficiency improvements during the ramp-up of several programs. The unfavorable effects in 2017 included charges on the BR725 and A380 programs. For contracts with anticipated losses, a provision for the entire amount of the estimated remaining loss is charged against income in the period in which the loss becomes known. Contract losses are determined considering all direct and indirect contract costs, exclusive of any selling, general or administrative cost allocations, which are treated as period expenses. Additional accounting policies related to revenue from contracts with customers are set forth in Note 2. We limit the concentration of credit risk in receivables by closely monitoring credit and collection policies. We record allowances for sales returns as a deduction in the computation of net sales. Such provisions are recorded on the basis of written communication with customers and/or historical experience. Any value added taxes that are imposed on sales transactions are excluded from net sales. Cost of Goods Sold Cost of goods sold includes the cost of materials, provisions for obsolete inventories, labor and supplies, shipping and handling costs, depreciation of manufacturing facilities and equipment, purchasing, receiving, warehousing, and other expenses. Cost of goods sold also includes provisions for loss contracts and charges for the write-off of inventories that result from an exit activity. Selling, General, Administrative, Technical, and Research Expenses Selling, general, administrative, and technical expenses are primarily comprised of wages, benefits, travel, professional fees, revaluation of trade foreign currency balances, and other costs, and are expensed as incurred. Selling expense includes provisions for bad debts and costs related to contract acquisition. Research expenses are charged to operations as incurred and consist primarily of compensation, supplies, and professional fees incurred in connection with intellectual property. Total company research expense was $26.9 million in 2019, $29.8 million in 2018, and $30.7 million in 2017. The Albany Engineered Composites segment participates in both company-sponsored, and customer-funded research and development. Some customer-funded research and development may be on a cost-sharing basis and considered to be a collaborative arrangement, in which case both parties are active participants and are exposed to the risks and rewards dependent on the success of the activity. In such cases, amounts charged to the collaborating entity are credited against research and development expense. For customer-funded research and development in which we anticipate funding to exceed expenses, we include amounts charged to the customer in Net sales, while expenses are included in Cost of goods sold. <div> 53 <hr style="border-top:1.5pt solid #000000;"/> <div style="page-break-after: always;"/> <a href="#t001">Index</a> </div> ALBANY INTERNATIONAL CORP. Notes to Consolidated Financial Statements 1. Accounting Policies — (continued) Restructuring Expense We may incur expenses related to exiting a line of business or restructuring of our operations, which could include employee termination costs, costs to consolidate or close facilities, or costs to terminate contractual relationships. Restructuring expenses may also include impairment of Property, plant and equipment, as described below under “Property, Plant and Equipment”. Employee termination costs include the severance pay and social costs for periods after employee service is completed. Termination costs related to an ongoing benefit arrangement are recognized when the amount becomes probable and estimable. Termination costs related to a one-time benefit arrangement are recognized at the communication date to employees. Costs related to contract termination, relocation of employees, outplacement and the consolidation or the closure of facilities, are recognized when incurred. Income Taxes Deferred income taxes are recognized for the tax consequences of temporary differences and tax attributes by applying enacted statutory tax rates applicable for future years to differences between existing assets and liabilities for financial reporting and income tax return purposes. The effect of tax rate changes on deferred taxes is recognized in the income tax provision in the period that includes the enactment date. A valuation allowance is established, as needed, to reduce net deferred tax assets to the amount expected to be realized. In the event it becomes more likely than not that some or all of the deferred tax asset valuation allowances will not be needed, the valuation allowance will be adjusted. In the ordinary course of business there is inherent uncertainty in quantifying our income tax positions. We assess our income tax positions and record tax benefits for all years subject to examination based upon management’s evaluation of the facts, circumstances, and information available at the reporting date. For those tax positions where it is more likely than not that a tax benefit will be sustained, we have determined the amount of the tax benefit to be recognized by estimating the largest amount of tax benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant information. For those income tax positions where it is not more-likely-than-not that a tax benefit will be sustained, no tax benefit has been recognized in the financial statements. Where applicable, associated interest and penalties have also been recognized. We recognize accrued interest and penalties related to unrecognized tax benefits as a component of income tax expense. Earnings Per Share Basic net income or loss per share is computed using the weighted average number of shares of Class A Common Stock and Class B Common Stock outstanding during each year. Diluted net income per share includes the effect of all potentially dilutive securities. If we report a net loss from continuing operations, the diluted loss is equal to the basic earnings per share calculation. Translation of Financial Statements Assets and liabilities of non-U.S. operations are translated at year-end rates of exchange, and the income statement accounts are translated at average exchange rates. Gains or losses resulting from translating non-U.S. currency financial statements into U.S. dollars are recorded in other comprehensive income and accumulated in Shareholders’ equity in the caption “Translation adjustments”. Selling, general, and administrative expenses include foreign currency gains and losses resulting from third party balances, such as receivables and payables, which are denominated in a currency other than the entity’s functional currency. Gains or losses resulting from cash and short-term intercompany loans and balances denominated in a currency other than the entity’s functional currency, and foreign currency options are generally included in Other expense, net. Gains and losses on long-term intercompany loans not intended to be repaid in the foreseeable future are recorded in other comprehensive income. There were no such intercompany loans during 2019 and 2018. <div> 54 <hr style="border-top:1.5pt solid #000000;"/> <div style="page-break-after: always;"/> <a href="#t001">Index</a> </div> ALBANY INTERNATIONAL CORP. Notes to Consolidated Financial Statements 1. Accounting Policies — (continued) The following table summarizes foreign currency transaction gains and losses recognized in the income statement: <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="91.22807017543859%"> <thead> <tr class="odd" style=""> <td style="width:62%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> (in thousands) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2019 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2018 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2017 </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:62%; vertical-align:bottom; "> (Gains)/losses included in: </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td style="width:62%; vertical-align:bottom; "> Selling, general, and administrative expenses </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $1,281 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $(274) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $4,127 </td> </tr> <tr class="odd" style=""> <td style="width:62%; vertical-align:bottom; "> Other expense, net </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> (4,471) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> (67) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 4,634 </td> </tr> <tr class="even" style=""> <td style="width:62%; vertical-align:bottom; "> Total transaction (gains)/losses </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> $(3,190) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> $(341) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> $8,761 </td> </tr> </tbody> </table> </div> The following table presents foreign currency gains on long-term intercompany loans that were recognized in Other comprehensive income: <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="91.22807017543859%"> <thead> <tr class="odd" style=""> <td style="width:62%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> (in thousands) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2019 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2018 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2017 </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:62%; vertical-align:bottom; "> Gain on long-term intercompany loans </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $— </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $— </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $1,867 </td> </tr> </tbody> </table> </div> Cash and Cash Equivalents Cash and cash equivalents consist of cash and highly liquid short-term investments with original maturities of three months or less. Accounts Receivable Accounts receivable includes trade receivables and bank promissory notes. In connection with certain sales in Asia Pacific, the Company accepts a bank promissory note as customer payment. The notes may be presented for payment at maturity, which is less than one year. The Company maintains allowances for doubtful accounts for estimated losses resulting from the inability of its customers to make required payments. The Company determines the allowance based on historical write-off experience, customer-specific facts and economic conditions. If the financial condition of the Company’s customers were to deteriorate, resulting in an impairment of their ability to make payments, additional allowances could be required. The Company also has Noncurrent receivables in the AEC segment that represent revenue earned which have extended payment terms. The Noncurrent receivables will be invoiced to the customer, with 2% interest, over a 10-year period starting in 2020. See additional information set forth in Notes 2 and 11. Contract Assets and Contract Liabilities Contract assets includes unbilled amounts typically resulting from sales under contracts when the cost-to-cost method of revenue recognition is utilized, and revenue recognized exceeds the amount billed to the customer. Contract assets are transferred to Accounts receivable, net, when the entitlement to payment becomes unconditional. Contract liabilities include advance payments and billings in excess of revenue recognized. Contract liabilities are included in Accrued liabilities in the Consolidated Balance Sheet. See additional information set forth in Notes 2 and 12. Inventories Costs included in inventories are raw materials, labor, supplies and allocable depreciation and overhead. Raw material inventories are valued on an average cost basis. Other inventory cost elements are valued at cost, using the first-in, first-out method. The Company writes down the inventories for estimated obsolescence, and to lower of cost or net realizable value based upon assumptions about future demand and market conditions. Write-downs of inventories are charged to Cost of goods sold. If actual demand or market conditions are less favorable than those projected by the Company, additional inventory write-downs may be required. Once established, the original cost of the inventory less the related write-down represents the new cost basis of such inventories. <div> 55 <hr style="border-top:1.5pt solid #000000;"/> <div style="page-break-after: always;"/> <a href="#t001">Index</a> </div> ALBANY INTERNATIONAL CORP. Notes to Consolidated Financial Statements 1. Accounting Policies — (continued) See additional information set forth in Notes 2 and 13. Leases Effective January 1, 2019, we adopted the provisions of ASC 842, Leases, using the effective date (or modified retrospective) approach for transition. Under this transition method, periods prior to 2019 have not been restated, and the cumulative effect of initially applying the new standard was recorded as an adjustment to Retained earnings at January 1, 2019. The new standard is intended to increase transparency and comparability among organizations by requiring the recognition of right of use (“ROU”) assets and lease liabilities on the balance sheet. Most prominent among the changes under the new standard is the recognition of ROU assets and lease liabilities by lessees for those leases classified as operating leases. Under the new standard, disclosures are required to meet the objective of enabling users of financial statements to assess the amount, timing, and uncertainty of cash flows arising from leases. We applied the new accounting standard to leases existing at the date of initial application of January 1, 2019. We elected the available package of practical expedients, which permitted us to not reassess under the new standard our prior conclusions about lease identification, lease classification and initial direct costs. We implemented processes and internal controls to enable the preparation of financial information related to this standard. The most significant impacts resulting from the adoption of the new standard was the recognition of ROU assets and lease liabilities for operating leases on our balance sheet for our real estate and automobile operating leases, as well as to the derecognition and reassessment of assets and liabilities related to our primary manufacturing facility in Salt Lake City, Utah (SLC lease), which had been accounted for as a build-to-suit lease with a failed sale-leaseback. For that lease, transitional guidance required the derecognition of existing assets and liabilities and a reassessment of lease classification. We determined that the lease met the criteria for recording as a finance lease and we determined the January 1, 2019 values of the ROU asset and lease liability on the basis of that reassessment. The change in the SLC lease-related assets and liabilities resulted in a $0.3 million pre-tax reduction to Retained earnings at the date of adoption. We have certain lease agreements with lease and non-lease components. For most of these leases, we account for the lease and non-lease components as a single lease component, in accordance with the practical expedient that is available for ongoing accounting. Additionally, for certain other leases, such as for vehicles, we apply a portfolio approach. Such new leases are classified as financing or operating, with classification affecting the pattern and classification of expense recognition in the income statement. Expenses related to operating leases are recognized on a straight-line basis, while those determined to be financing leases are recognized following a front-loaded expense profile, in which interest and amortization are presented separately in the income statement. Operating lease ROU assets are included in Other assets in the Consolidated Balance Sheets, while finance lease ROU assets are included in Property, plant, and equipment, net. Lease liabilities for both operating and finance leases are included in Accrued liabilities and Other noncurrent liabilities in the Consolidated Balance Sheets. See additional information set forth in Note 20. <div> 56 <hr style="border-top:1.5pt solid #000000;"/> <div style="page-break-after: always;"/> <a href="#t001">Index</a> </div> ALBANY INTERNATIONAL CORP. Notes to Consolidated Financial Statements 1. Accounting Policies — (continued) Property, Plant and Equipment Property, plant and equipment are recorded at cost, or if acquired as part of a business combination, at fair value. Depreciation is recorded using the straight-line method over the estimated useful lives of the assets for financial reporting purposes. In some cases, accelerated methods are used for income tax purposes. Significant additions or improvements extending assets’ useful lives are capitalized; normal maintenance and repair costs are expensed as incurred. The cost of fully depreciated assets remaining in use is included in the respective asset and accumulated depreciation accounts. When items are sold or retired, related gains or losses are included in net income. Computer software purchased for internal use, at cost, is amortized on a straight-line basis over five to eight years, depending on the nature of the asset, after being placed into service, and is included in property, plant, and equipment. We capitalize internal and external costs incurred related to the software development stage. Capitalized salaries, travel, and consulting costs related to the software development were immaterial in 2019 and 2018. We review the carrying value of property, plant and equipment and other long-lived assets for impairment whenever events and circumstances indicate that the carrying value of an asset group may not be recoverable from the estimated future cash flows expected to result from its use and eventual disposition. See additional information set forth in Note 14. Goodwill, Intangibles, and Other Assets Goodwill and intangible assets with indefinite useful lives are not amortized, but are tested for impairment at least annually. Goodwill represents the excess of the purchase price over the fair value of the net tangible and identifiable intangible assets acquired in each business combination. Our reportable segments are consistent with our operating segments. See additional information set forth in Note 15. Intangible assets acquired in a business combination are recognized at fair value and amortized to Cost of goods sold or Selling, general and administrative expenses over the estimated useful lives of the assets. We review amortizable intangible asset groups for impairment whenever events or changes in circumstances indicate that the related carrying amounts may not be recoverable. We have an investment in a company in Russia that is accounted for under the equity method of accounting and is included in Other assets, amounting to $0.5 million in 2019 and $0.4 million in 2018. We perform regular reviews of the financial condition of the investee to determine if our investment is other than temporarily impaired. If the financial condition of the investee were to no longer support their valuation, we would record an impairment provision. For some AEC contracts, we perform pre-production or nonrecurring engineering services. These costs are normally considered a fulfillment activity, rather than a performance obligation. Fulfillment activities that create resources that will be used in satisfying performance obligations in the future, and are expected to be recovered, are capitalized to Other assets, which is classified as a noncurrent asset in the Consolidated Balance Sheets. The capitalized costs are amortized into Cost of goods sold over the period over which the asset is expected to contribute to future cash flows, which includes anticipated renewal periods. Included in Other assets is $21.3 million in 2019 and $14.2 million in 2018 for defined benefit pension plans where plan assets exceed the projected benefit obligations. Other assets also includes financial assets of $0.8 million in 2019 and $5.3 million in 2018. See additional information set forth in Note 18. <div> 57 <hr style="border-top:1.5pt solid #000000;"/> <div style="page-break-after: always;"/> <a href="#t001">Index</a> </div> ALBANY INTERNATIONAL CORP. Notes to Consolidated Financial Statements 1. Accounting Policies — (continued) Stock-Based Compensation We have stock-based compensation plans for key employees. Stock options are accounted for in accordance with applicable guidance for the modified prospective transition method of share-based payments. No options have been granted since 2002. See additional information set forth in Note 22. Derivatives We use derivatives from time to time to reduce potentially large adverse effects from changes in currency exchange rates and interest rates. We monitor our exposure to these risks and evaluate, on an ongoing basis, the risk of potentially large adverse effects versus the costs associated with hedging such risks. We may use interest rate swaps in the management of interest rate exposures and foreign currency derivatives in the management of foreign currency exposure related to assets and liabilities (including net investments in subsidiaries located outside the U.S.) denominated in foreign currencies. When we enter into a derivative contract, we make a determination whether the transaction is deemed to be a hedge for accounting purposes. For those contracts deemed to be a hedge, we formally document the relationship between the derivative instrument and the risk being hedged. In this documentation, we specifically identify the asset, liability, forecasted transaction, cash flow, or net investment that has been designated as the hedged item, and evaluate whether the derivative instrument is expected to reduce the risks associated with the hedged item. To the extent these criteria are not met, we do not use hedge accounting for the derivative. All derivative contracts are recorded at fair value, as a net asset or a net liability. Changes in the fair value of the hedge are recorded, net of tax, in other comprehensive income. For transactions that are designated as hedges, we perform an evaluation of the effectiveness of the hedge. We measure the effectiveness of hedging relationships both at inception and on an ongoing basis. For derivatives that are designated and qualify as hedges of net investments in subsidiaries located outside the United States, changes in the fair value of derivatives are reported in other comprehensive income as part of the Cumulative translation adjustment. Pension and Postretirement Benefit Plans As described in Note 4, we have pension and postretirement benefit plans covering substantially all employees. Our defined benefit pension plan in the United States was closed to new participants as of October 1998 and, as of February 2009, benefits accrued under this plan were frozen. We have liabilities for postretirement benefits in the U.S. and Canada. Substantially all of the liability relates to the U.S. plan. Effective January 2005, our postretirement benefit plan in the U.S. was closed to new participants, except for certain life insurance benefits. In September 2008, we changed the cost sharing arrangement under this program such that increases in health care costs are the responsibility of plan participants and, in August 2013, we reduced the life insurance benefit for retirees and eliminated that benefit for active employees. The pension plans are generally trusteed or insured, and accrued amounts are funded as required in accordance with governing laws and regulations. The annual expense and liabilities recognized for defined benefit pension plans and postretirement benefit plans are developed from actuarial valuations. Inherent in these valuations are key assumptions, including discount rates and expected return on plan assets, which are updated on an annual basis. We consider current market conditions, including changes in interest rates, in making these assumptions. Discount rate assumptions are based on the population of plan participants and a mixture of high-quality fixed-income investments with durations that match expected future payments. The assumption for expected return on plan assets is based on historical and expected returns on various categories of plan assets. <div> 58 <hr style="border-top:1.5pt solid #000000;"/> <div style="page-break-after: always;"/> <a href="#t001">Index</a> </div> ALBANY INTERNATIONAL CORP. Notes to Consolidated Financial Statements 1. Accounting Policies — (continued) Recent Accounting Pronouncements In June 2016, an accounting update was issued which replaces the incurred loss impairment methodology under current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The measurement of expected credit losses under the current expected losses (CECL) methodology is applicable to financial assets measured at amortized cost, which includes Short-term securities, Trade receivables, Contract assets, and Noncurrent receivables. The Company is required to estimate a CECL allowance using relevant available information. Historical credit loss experience will provide the basis for the estimation of expected credit losses, and adjustments may be made for differences in current asset-specific risk characteristics. A CECL allowance for credit losses will be measured on a collective (pool) basis when similar risk characteristics exist. Where financial instruments do not share risk characteristics, they will be evaluated on an individual basis. The principal effect on the Company’s financial statements will be an increase in credit loss reserve on financial instruments, which the Company does not expect to be material. The Company will adopt the new standard using a modified retrospective transition approach as of January 1, 2020, which will be our date of initial application. Consequently, financial information will not be updated and the disclosures required under the new standard will not be provided for dates and periods before January 1, 2020. Additionally, the Company is evaluating changes to our accounting policies, processes and internal controls to ensure we meet the standard’s reporting and disclosure requirements. In August 2018, an accounting update was issued which aims to improve the overall usefulness of disclosures to financial statement users and reduce unnecessary costs to companies when preparing fair value measurement disclosures. We will adopt the new standard as of January 1, 2020 and do not expect the adoption to significantly impact our financial statements. In August 2018, an accounting update was issued which aims to improve the overall usefulness of disclosures to financial statement users and reduce unnecessary costs to companies when preparing defined benefit plan disclosures. We plan to adopt the new standard effective January 1, 2021. We do not expect the adoption of this update to significantly impact our financial statements. In November 2018, an accounting update was issued which clarifies when transactions between collaborative arrangement participants are in the scope of ASC 606. The update also provides some guidance on presentation of transactions not in the scope of ASC 606. We will adopt the new standard as of January 1, 2020 and do not expect the adoption to significantly impact our financial statements. In December 2019, an accounting update was issued which removes certain exceptions for recognizing deferred taxes for investments and performing intra-period tax allocations. The update also adds guidance to reduce complexity in certain areas, including recognizing deferred taxes for tax goodwill and allocating taxes to members of a consolidated group. We plan to adopt the new standard as of January 1, 2021 and we are assessing the potential impact on our financial statements.

10800000

2000000.0

11500000

26900000

29800000

30700000

The following table summarizes foreign currency transaction gains and losses recognized in the income statement: <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="91.22807017543859%"> <thead> <tr class="odd" style=""> <td style="width:62%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> (in thousands) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2019 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2018 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2017 </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:62%; vertical-align:bottom; "> (Gains)/losses included in: </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td style="width:62%; vertical-align:bottom; "> Selling, general, and administrative expenses </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $1,281 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $(274) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $4,127 </td> </tr> <tr class="odd" style=""> <td style="width:62%; vertical-align:bottom; "> Other expense, net </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> (4,471) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> (67) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 4,634 </td> </tr> <tr class="even" style=""> <td style="width:62%; vertical-align:bottom; "> Total transaction (gains)/losses </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> $(3,190) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> $(341) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> $8,761 </td> </tr> </tbody> </table> </div>

-1281000 274000 -4127000 4471000 67000 -4634000

3190000

341000

-8761000

The following table presents foreign currency gains on long-term intercompany loans that were recognized in Other comprehensive income: <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="91.22807017543859%"> <thead> <tr class="odd" style=""> <td style="width:62%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> (in thousands) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2019 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2018 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2017 </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:62%; vertical-align:bottom; "> Gain on long-term intercompany loans </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $— </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $— </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $1,867 </td> </tr> </tbody> </table> </div>

1867000

0.02

over a 10-year period starting in 2020

See additional information set forth in Notes 2 and 13.

Leases Effective January 1, 2019, we adopted the provisions of ASC 842, Leases, using the effective date (or modified retrospective) approach for transition. Under this transition method, periods prior to 2019 have not been restated, and the cumulative effect of initially applying the new standard was recorded as an adjustment to Retained earnings at January 1, 2019. The new standard is intended to increase transparency and comparability among organizations by requiring the recognition of right of use (“ROU”) assets and lease liabilities on the balance sheet. Most prominent among the changes under the new standard is the recognition of ROU assets and lease liabilities by lessees for those leases classified as operating leases. Under the new standard, disclosures are required to meet the objective of enabling users of financial statements to assess the amount, timing, and uncertainty of cash flows arising from leases. We applied the new accounting standard to leases existing at the date of initial application of January 1, 2019. We elected the available package of practical expedients, which permitted us to not reassess under the new standard our prior conclusions about lease identification, lease classification and initial direct costs. We implemented processes and internal controls to enable the preparation of financial information related to this standard. The most significant impacts resulting from the adoption of the new standard was the recognition of ROU assets and lease liabilities for operating leases on our balance sheet for our real estate and automobile operating leases, as well as to the derecognition and reassessment of assets and liabilities related to our primary manufacturing facility in Salt Lake City, Utah (SLC lease), which had been accounted for as a build-to-suit lease with a failed sale-leaseback. For that lease, transitional guidance required the derecognition of existing assets and liabilities and a reassessment of lease classification. We determined that the lease met the criteria for recording as a finance lease and we determined the January 1, 2019 values of the ROU asset and lease liability on the basis of that reassessment. The change in the SLC lease-related assets and liabilities resulted in a $0.3 million pre-tax reduction to Retained earnings at the date of adoption. We have certain lease agreements with lease and non-lease components. For most of these leases, we account for the lease and non-lease components as a single lease component, in accordance with the practical expedient that is available for ongoing accounting. Additionally, for certain other leases, such as for vehicles, we apply a portfolio approach. Such new leases are classified as financing or operating, with classification affecting the pattern and classification of expense recognition in the income statement. Expenses related to operating leases are recognized on a straight-line basis, while those determined to be financing leases are recognized following a front-loaded expense profile, in which interest and amortization are presented separately in the income statement. Operating lease ROU assets are included in Other assets in the Consolidated Balance Sheets, while finance lease ROU assets are included in Property, plant, and equipment, net. Lease liabilities for both operating and finance leases are included in Accrued liabilities and Other noncurrent liabilities in the Consolidated Balance Sheets. See additional information set forth in Note 20. <div> 56 <hr style="border-top:1.5pt solid #000000;"/> <div style="page-break-after: always;"/> <a href="#t001">Index</a> </div> ALBANY INTERNATIONAL CORP. Notes to Consolidated Financial Statements 1. Accounting Policies — (continued)

500000

400000

21300000

14200000

800000

5300000

The following table provides a summary of the composition of each business segment: <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="100%"> <thead> <tr class="odd" style=""> <td style="width:21%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:top; "> Segment </td> <td style="width:3%; vertical-align:top; "> </td> <td style="width:18%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:top; "> Product Group </td> <td style="width:1%; vertical-align:top; "> </td> <td style="width:37%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:top; "> Principal Product or Service </td> <td style="width:1%; vertical-align:top; "> </td> <td style="width:18%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:top; "> Principal Locations </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td rowspan="2" style="width:21%; vertical-align:middle; border-bottom:0.5pt solid; "> Machine Clothing (MC) </td> <td rowspan="2" style="width:3%; vertical-align:middle; "> </td> <td rowspan="2" style="width:18%; vertical-align:middle; border-bottom:0.5pt solid; "> Machine Clothing </td> <td rowspan="2" style="width:1%; vertical-align:middle; "> </td> <td style="width:37%; vertical-align:middle; "> Paper machine clothing: Permeable and impermeable belts used in the manufacture of paper, paperboard, tissue and towel, and pulp </td> <td rowspan="2" style="width:1%; vertical-align:middle; "> </td> <td rowspan="2" style="width:18%; vertical-align:middle; border-bottom:0.5pt solid; "> World-wide </td> </tr> <tr class="even" style=""> <td style="width:37%; vertical-align:middle; border-bottom:0.5pt solid; "> Engineered fabrics: Belts used in the manufacture of nonwovens, fiber cement and several other industrial applications </td> </tr> <tr class="odd" style=""> <td rowspan="2" style="width:21%; vertical-align:middle; border-bottom:0.5pt solid; "> Albany Engineered Composites (AEC) </td> <td rowspan="2" style="width:3%; vertical-align:middle; "> </td> <td style="width:18%; vertical-align:middle; "> Albany Safran Composites (ASC) </td> <td rowspan="2" style="width:1%; vertical-align:middle; "> </td> <td style="width:37%; vertical-align:middle; "> 3D-woven, injected composite components for aircraft engines </td> <td rowspan="2" style="width:1%; vertical-align:middle; "> </td> <td style="width:18%; vertical-align:middle; "> Rochester, NH Commercy, France Queretaro, Mexico </td> </tr> <tr class="even" style=""> <td style="width:18%; vertical-align:middle; border-bottom:0.5pt solid; "> Airframe and engine Components (Other AEC) </td> <td style="width:37%; vertical-align:middle; border-bottom:0.5pt solid; "> Composite airframe and engine components for military and commercial aircraft </td> <td style="width:18%; vertical-align:middle; border-bottom:0.5pt solid; "> Salt Lake City, UT Boerne, TX Queretaro, Mexico Kaiserslautern, Germany </td> </tr> </tbody> </table> </div>

Machine Clothing (MC) Machine Clothing Paper machine clothing: Permeable and impermeable belts used in the manufacture of paper, paperboard, tissue and towel, and pulp World-wide Albany Engineered Composites (AEC) Albany Safran Composites (ASC) 3D-woven, injected composite components for aircraft engines Rochester, NH Commercy, France Queretaro, Mexico We disaggregate revenue earned from contracts with customers for each of our business segments and product groups based on the timing of revenue recognition, and groupings used for internal review purposes. The following table presents disaggregated revenue for each product group by timing of revenue recognition: <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="91.22807017543859%"> <thead> <tr class="odd" style=""> <td style="width:55%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td colspan="5" style="width:42%; vertical-align:bottom; "> For the year ended </td> </tr> <tr class="even" style=""> <td style="width:55%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td colspan="5" style="width:42%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> December 31, 2019 </td> </tr> <tr class="odd" style=""> <td style="width:55%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> (in thousands) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Point in Time Revenue Recognition </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Over Time Revenue Recognition </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Total </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:55%; vertical-align:bottom; "> Machine Clothing </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> $598,054 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> $3,200 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> $601,254 </td> </tr> <tr class="even" style=""> <td style="width:55%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:10pt; text-align:left; margin-top:0pt; padding-left:0pt; text-indent: -10pt !important; padding-left: 10pt !important; margin-bottom: 0pt;color:#000000; ">Albany Engineered Composites ASC </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> — </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 220,188 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 220,188 </td> </tr> <tr class="odd" style=""> <td style="width:55%; vertical-align:bottom; "> Other AEC </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> 28,584 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> 204,106 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> 232,690 </td> </tr> <tr class="even" style=""> <td style="width:55%; vertical-align:bottom; "> Total Albany Engineered Composites </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> 28,584 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> 424,294 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> 452,878 </td> </tr> <tr class="odd" style=""> <td style="width:55%; vertical-align:bottom; "> Total revenue </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:3px double;"> $626,638 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:3px double;"> $427,494 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:3px double;"> $1,054,132 </td> </tr> </tbody> </table> </div> <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="91.22807017543859%"> <thead> <tr class="odd" style=""> <td style="width:55%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td colspan="5" style="width:42%; vertical-align:bottom; "> For the year ended </td> </tr> <tr class="even" style=""> <td style="width:55%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td colspan="5" style="width:42%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> December 31, 2018 </td> </tr> <tr class="odd" style=""> <td style="width:55%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> (in thousands) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Point in Time Revenue Recognition </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Over Time Revenue Recognition </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Total </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:55%; vertical-align:bottom; "> Machine Clothing </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> $608,658 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> $3,200 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> $611,858 </td> </tr> <tr class="even" style=""> <td style="width:55%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:10pt; text-align:left; margin-top:0pt; padding-left:0pt; text-indent: -10pt !important; padding-left: 10pt !important; margin-bottom: 0pt;color:#000000; ">Albany Engineered Composites ASC </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> — </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 182,699 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 182,699 </td> </tr> <tr class="odd" style=""> <td style="width:55%; vertical-align:bottom; "> Other AEC </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> 21,614 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> 166,308 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> 187,922 </td> </tr> <tr class="even" style=""> <td style="width:55%; vertical-align:bottom; "> Total Albany Engineered Composites </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> 21,614 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> 349,007 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> 370,621 </td> </tr> <tr class="odd" style=""> <td style="width:55%; vertical-align:bottom; "> Total revenue </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:3px double;"> $630,272 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:3px double;"> $352,207 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:3px double;"> $982,479 </td> </tr> </tbody> </table> </div>

598054000

3200000

601254000

220188000

28584000

204106000

232690000

28584000

424294000

452878000

626638000

427494000

1054132000

608658000

3200000

611858000

182699000

21614000

166308000

187922000

21614000

349007000

370621000

630272000

352207000

982479000

The following table disaggregates MC segment revenue by significant product groupings (paper machine clothing (PMC) and engineered fabrics), and, for PMC, the geographical region to which the paper machine clothing was sold: <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="91.22807017543859%"> <thead> <tr class="odd" style=""> <td style="width:64%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td colspan="3" style="width:34%; vertical-align:bottom; "> For the years ended December 31, </td> </tr> <tr class="even" style=""> <td style="width:64%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> (in thousands) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:16%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2019 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:16%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2018 </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:64%; vertical-align:bottom; "> Americas PMC </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:16%; vertical-align:bottom; "> $316,355 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:16%; vertical-align:bottom; "> $303,768 </td> </tr> <tr class="even" style=""> <td style="width:64%; vertical-align:bottom; "> Eurasia PMC </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:16%; vertical-align:bottom; "> 210,961 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:16%; vertical-align:bottom; "> 227,493 </td> </tr> <tr class="odd" style=""> <td style="width:64%; vertical-align:bottom; "> Engineered Fabrics </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:16%; vertical-align:bottom; border-bottom:0.5pt solid; "> 73,938 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:16%; vertical-align:bottom; border-bottom:0.5pt solid; "> 80,597 </td> </tr> <tr class="even" style=""> <td style="width:64%; vertical-align:bottom; "> Total Machine Clothing Net sales </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:16%; vertical-align:bottom; border-bottom:3px double;"> $601,254 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:16%; vertical-align:bottom; border-bottom:3px double;"> $611,858 </td> </tr> </tbody> </table> </div>

316355000

303768000

210961000

227493000

73938000

80597000

601254000

611858000

82000000

67000000

ALBANY INTERNATIONAL CORP.

200000

226800000

186300000

119200000

114500000

96200000

As described in Note 2, effective January 1, 2018, the Company adopted the provisions of ASC 606, “Revenue from contracts with customers”, using the cumulative effect method for translation. Periods prior to 2018 have not been restated. The following tables show data by reportable segment, reconciled to consolidated totals included in the financial statements: <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="91.22807017543859%"> <thead> <tr class="odd" style=""> <td style="width:38%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> (in thousands) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2019 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2018 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2017 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:20%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Year ended December 31, 2018 Increase/(decrease) attributable to application of ASC 606 </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:38%; vertical-align:bottom; "> Net Sales </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:20%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td style="width:38%; vertical-align:bottom; "> Machine Clothing </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $601,254 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $611,858 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $590,357 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:20%; vertical-align:bottom; "> $(3,970) </td> </tr> <tr class="odd" style=""> <td style="width:38%; vertical-align:bottom; "> Albany Engineered Composites </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 452,878 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 370,621 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 273,360 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:20%; vertical-align:bottom; border-bottom:0.5pt solid; "> (3,150) </td> </tr> <tr class="even" style=""> <td style="width:38%; vertical-align:bottom; "> Consolidated total </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> $1,054,132 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> $982,479 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> $863,717 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:20%; vertical-align:bottom; border-bottom:0.5pt solid; "> $(7,120) </td> </tr> <tr class="odd" style=""> <td style="width:38%; vertical-align:bottom; "> Depreciation and amortization </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:20%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td style="width:38%; vertical-align:bottom; "> Machine Clothing </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 21,875 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 30,813 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 33,527 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:20%; vertical-align:bottom; "> — </td> </tr> <tr class="odd" style=""> <td style="width:38%; vertical-align:bottom; "> Albany Engineered Composites </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 44,670 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 43,205 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 33,533 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:20%; vertical-align:bottom; "> — </td> </tr> <tr class="even" style=""> <td style="width:38%; vertical-align:bottom; "> Corporate expenses </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 4,250 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 5,018 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 4,896 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:20%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> </tr> <tr class="odd" style=""> <td style="width:38%; vertical-align:bottom; "> Consolidated total </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> $70,795 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> $79,036 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> $71,956 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:20%; vertical-align:bottom; border-bottom:0.5pt solid; "> $— </td> </tr> <tr class="even" style=""> <td style="width:38%; vertical-align:bottom; "> Operating income/(loss) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:20%; vertical-align:bottom; "> </td> </tr> <tr class="odd" style=""> <td style="width:38%; vertical-align:bottom; "> Machine Clothing </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 191,965 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 169,836 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 153,980 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:20%; vertical-align:bottom; "> (1,605) </td> </tr> <tr class="even" style=""> <td style="width:38%; vertical-align:bottom; "> Albany Engineered Composites </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 55,520 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 16,647 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> (31,657) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:20%; vertical-align:bottom; "> 4,930 </td> </tr> <tr class="odd" style=""> <td style="width:38%; vertical-align:bottom; "> Corporate expenses </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> (53,909) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> (49,075) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> (43,647) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:20%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> </tr> <tr class="even" style=""> <td style="width:38%; vertical-align:bottom; "> Operating income </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> $193,576 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> $137,408 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> $78,676 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:20%; vertical-align:bottom; border-bottom:0.5pt solid; "> $3,325 </td> </tr> <tr class="odd" style=""> <td style="width:38%; vertical-align:bottom; "> Reconciling items: </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:20%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td style="width:38%; vertical-align:bottom; "> Interest income </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> (2,729) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> (2,118) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> (1,511) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:20%; vertical-align:bottom; "> — </td> </tr> <tr class="odd" style=""> <td style="width:38%; vertical-align:bottom; "> Interest expense </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 19,650 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 20,242 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 18,602 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:20%; vertical-align:bottom; "> — </td> </tr> <tr class="even" style=""> <td style="width:38%; vertical-align:bottom; "> Other expense, net </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> (1,557) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 4,037 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 6,877 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:20%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> </tr> <tr class="odd" style=""> <td style="width:38%; vertical-align:bottom; "> Income before income taxes </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> $178,212 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> $115,247 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> $54,708 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:20%; vertical-align:bottom; border-bottom:3px double;"> $3,325 </td> </tr> </tbody> </table> </div> The table below presents restructuring costs by reportable segment (also see Note 5): <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="91.22807017543859%"> <thead> <tr class="odd" style=""> <td style="width:62%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> (in thousands) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2019 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2018 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2017 </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:62%; vertical-align:bottom; "> Restructuring expenses, net </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td style="width:62%; vertical-align:bottom; "> Machine Clothing </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $1,129 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $12,278 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $3,429 </td> </tr> <tr class="odd" style=""> <td style="width:62%; vertical-align:bottom; "> Albany Engineered Composites </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 1,833 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 3,048 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 10,062 </td> </tr> <tr class="even" style=""> <td style="width:62%; vertical-align:bottom; "> Corporate expenses </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> (57) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 244 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> </tr> <tr class="odd" style=""> <td style="width:62%; vertical-align:bottom; "> Consolidated total </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> $2,905 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> $15,570 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> $13,491 </td> </tr> </tbody> </table> </div>

601254000

611858000

590357000

-3970000

452878000

370621000

273360000

-3150000

1054132000

982479000

863717000

-7120000

21875000

30813000

33527000

44670000

43205000

33533000

4250000

5018000

4896000

70795000

79036000

71956000

191965000

169836000

153980000

-1605000

55520000

16647000

-31657000

4930000

-53909000

-49075000

-43647000

193576000

137408000

78676000

3325000

2729000

2118000

1511000

19650000

20242000

18602000

1557000

-4037000

-6877000

178212000

115247000

54708000

3325000

The table below presents restructuring costs by reportable segment (also see Note 5):

1129000

12278000

3429000

1833000

3048000

10062000

-57000

244000

2905000

15570000

13491000

35300000

The following table presents assets and capital expenditures by reportable segment: <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="100%"> <thead> <tr class="odd" style=""> <td style="width:61%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> (in thousands) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2019 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2018 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2017 </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:61%; vertical-align:bottom; "> Segment assets </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td style="width:61%; vertical-align:bottom; "> Machine Clothing </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $441,072 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $453,836 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $464,468 </td> </tr> <tr class="odd" style=""> <td style="width:61%; vertical-align:bottom; "> Albany Engineered Composites </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 693,799 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 633,394 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 584,076 </td> </tr> <tr class="even" style=""> <td style="width:61%; vertical-align:bottom; "> Reconciling items: </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> </tr> <tr class="odd" style=""> <td style="width:61%; vertical-align:bottom; "> Cash </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 195,540 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 197,755 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 183,727 </td> </tr> <tr class="even" style=""> <td style="width:61%; vertical-align:bottom; "> Income taxes prepaid, receivable and deferred </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 57,783 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 70,095 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 74,914 </td> </tr> <tr class="odd" style=""> <td style="width:61%; vertical-align:bottom; "> Prepaid and Other assets </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 86,174 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 62,912 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 54,013 </td> </tr> <tr class="even" style=""> <td style="width:61%; vertical-align:bottom; "> Consolidated total assets </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> $1,474,368 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> $1,417,992 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> $1,361,198 </td> </tr> <tr class="odd" style=""> <td style="width:61%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td style="width:61%; vertical-align:bottom; "> Capital expenditures and purchased software </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> </tr> <tr class="odd" style=""> <td style="width:61%; vertical-align:bottom; "> Machine Clothing </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $16,707 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $20,230 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $20,522 </td> </tr> <tr class="even" style=""> <td style="width:61%; vertical-align:bottom; "> Albany Engineered Composites </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 48,753 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 60,121 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 63,865 </td> </tr> <tr class="odd" style=""> <td style="width:61%; vertical-align:bottom; "> Corporate expenses </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 2,495 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 2,535 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 3,250 </td> </tr> <tr class="even" style=""> <td style="width:61%; vertical-align:bottom; "> Consolidated total </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> $67,955 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> $82,886 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> $87,637 </td> </tr> </tbody> </table> </div>

441072000

453836000

464468000

693799000

633394000

584076000

195540000

197755000

183727000

57783000 70095000 74914000

86174000

62912000

54013000

1474368000

1417992000

1361198000

16707000

20230000

20522000

48753000

60121000

63865000

2495000

2535000

3250000

67955000

82886000

87637000

22500000

14100000

2029-12-31

12700000

<div> 65 <hr style="border-top:1.5pt solid #000000;"/> <div style="page-break-after: always;"/> <a href="#t001">Index</a> </div> ALBANY INTERNATIONAL CORP. Notes to Consolidated Financial Statements 3. Reportable Segments and Geographic Data — (continued) The following table shows data by geographic area. Net sales are based on the location of the operation recording the final sale to the customer. Net sales recorded by our entity in Switzerland are derived from products sold throughout Europe and Asia, and are invoiced in various currencies. <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="100%"> <thead> <tr class="odd" style=""> <td style="width:61%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> (in thousands) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2019 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2018 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2017 </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:61%; vertical-align:bottom; "> Net sales </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td style="width:61%; vertical-align:bottom; "> United States </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $574,063 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $519,349 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $459,525 </td> </tr> <tr class="odd" style=""> <td style="width:61%; vertical-align:bottom; "> Switzerland </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 146,571 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 157,339 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 147,601 </td> </tr> <tr class="even" style=""> <td style="width:61%; vertical-align:bottom; "> France </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 91,783 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 85,386 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 57,195 </td> </tr> <tr class="odd" style=""> <td style="width:61%; vertical-align:bottom; "> Mexico </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 73,039 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 48,534 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 31,902 </td> </tr> <tr class="even" style=""> <td style="width:61%; vertical-align:bottom; "> Brazil </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 64,666 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 62,093 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 60,535 </td> </tr> <tr class="odd" style=""> <td style="width:61%; vertical-align:bottom; "> China </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 48,586 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 50,923 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 48,920 </td> </tr> <tr class="even" style=""> <td style="width:61%; vertical-align:bottom; "> Other countries </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 55,424 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 58,855 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 58,039 </td> </tr> <tr class="odd" style=""> <td style="width:61%; vertical-align:bottom; "> Consolidated total </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> $1,054,132 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> $982,479 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> $863,717 </td> </tr> <tr class="even" style=""> <td style="width:61%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> </tr> <tr class="odd" style=""> <td style="width:61%; vertical-align:bottom; "> Property, plant and equipment, at cost, net </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td style="width:61%; vertical-align:bottom; "> United States </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $275,965 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $272,584 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $252,639 </td> </tr> <tr class="odd" style=""> <td style="width:61%; vertical-align:bottom; "> Mexico </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 45,640 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 40,343 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 22,981 </td> </tr> <tr class="even" style=""> <td style="width:61%; vertical-align:bottom; "> France </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 43,986 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 50,245 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 58,196 </td> </tr> <tr class="odd" style=""> <td style="width:61%; vertical-align:bottom; "> China </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 41,799 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 48,686 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 61,840 </td> </tr> <tr class="even" style=""> <td style="width:61%; vertical-align:bottom; "> United Kingdom </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 11,047 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 12,042 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 14,256 </td> </tr> <tr class="odd" style=""> <td style="width:61%; vertical-align:bottom; "> South Korea </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 10,795 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 12,396 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 14,558 </td> </tr> <tr class="even" style=""> <td style="width:61%; vertical-align:bottom; "> Germany (a) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 10,577 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 27 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 39 </td> </tr> <tr class="odd" style=""> <td style="width:61%; vertical-align:bottom; "> Canada </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 9,509 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 8,154 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 10,230 </td> </tr> <tr class="even" style=""> <td style="width:61%; vertical-align:bottom; "> Other countries </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 17,144 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 17,578 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 19,563 </td> </tr> <tr class="odd" style=""> <td style="width:61%; vertical-align:bottom; "> Consolidated total </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> $466,462 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> $462,055 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> $454,302 </td> </tr> </tbody> </table> </div>

574063000

519349000

459525000

146571000

157339000

147601000

91783000

85386000

57195000

73039000

48534000

31902000

64666000

62093000

60535000

48586000

50923000

48920000

55424000

58855000

58039000

1054132000

982479000

863717000

275965000

272584000

252639000

45640000

40343000

22981000

43986000

50245000

58196000

41799000

48686000

61840000

11047000

12042000

14256000

10795000

12396000

14558000

10577000

27000

39000

9509000

8154000

10230000

17144000

17578000

19563000

466462000

462055000

454302000

10600000

4. Pensions and Other Postretirement Benefit Plans Pension Plans The Company has defined benefit pension plans covering certain U.S. and non-U.S. employees. The U.S. qualified defined benefit pension plan has been closed to new participants since October 1998 and, as of February 2009, benefits accrued under this plan were frozen. As a result of the freeze, employees covered by the pension plan will receive, at retirement, benefits accrued through February 2009, but no benefits accrue after that date. Benefit accruals under the U.S. Supplemental Executive Retirement Plan (“SERP”), which is an unfunded plan, were similarly frozen. The U.S. pension plan accounts for 45 percent of consolidated pension plan assets, and 46 percent of consolidated pension plan obligations. The eligibility, benefit formulas, and contribution requirements for plans outside of the U.S. vary by location. The December 31, 2019 benefit obligations for the U.S. pension and postretirement plans were calculated using the Pri-2012 mortality table with MP-2017 generational projection. For U.S. pension funding purposes, the Company uses the plan’s IRS-basis current liability as its funding target, which is determined based on mandated assumptions. <div> 66 <hr style="border-top:1.5pt solid #000000;"/> <div style="page-break-after: always;"/> <a href="#t001">Index</a> </div> ALBANY INTERNATIONAL CORP. Notes to Consolidated Financial Statements 4. Pensions and Other Postretirement Benefit Plans — (continued) Other Postretirement Benefits In addition to providing pension benefits, the Company provides various medical, dental, and life insurance benefits for certain retired United States employees. U.S. employees hired prior to 2005 may become eligible for these benefits if they reach normal retirement age while working for the Company. Benefits provided under this plan are subject to change. Retirees share in the cost of these benefits. Any new employees hired after January 2005 who wish to be covered under this plan will be responsible for the full cost of such benefits. In September 2008, we changed the cost-sharing arrangement under this program such that increases in health care costs are the responsibility of plan participants. In August 2013, we reduced the life insurance benefit for retirees and eliminated the benefit for active employees. The Company also provides certain postretirement life insurance benefits to retired employees in Canada. As of December 31, 2019, the accrued postretirement liability was $53.2 million in the U.S. and $1.2 million in Canada. The Company accrues the cost of providing postretirement benefits during the active service period of the employees. The Company currently funds the plans as claims are paid. Accounting guidance requires the recognition of the funded status of each defined benefit and other postretirement benefit plan. Each overfunded plan is recognized as an asset and each underfunded plan is recognized as a liability. Company pension plan data for U.S. and non-U.S. plans has been combined for both 2019 and 2018, except where indicated below. The Company’s pension and postretirement benefit costs and benefit obligations are based on actuarial valuations that are affected by many assumptions, the most significant of which are the assumed discount rate, expected rate of return on pension plan assets, and mortality. Each of the assumptions is reviewed and updated annually, as appropriate. The assumed rates of return for pension plan assets are determined for each major asset category based on historical rates of return for assets in that category and expectations of future rates of return based, in part, on simulated future capital market performance. The assumed discount rate is based on yields from a portfolio of currently available high-quality fixed-income investments with durations matching the expected future payments, based on the demographics of the plan participants and the plan provisions. Gains and losses arise from changes in the assumptions used to measure the benefit obligations, and experience different from what had been assumed, including asset returns different than what had been expected. The Company amortizes gains and losses in excess of a “corridor” over the average future service of the plan’s current participants. The corridor is defined as 10 percent of the greater of the plan’s projected benefit obligation or market-related value of plan assets. The market-related value of plan assets is also used to determine the expected return on plan assets component of net periodic cost. The Company’s market-related value for its U.S. plan is measured by first determining the absolute difference between the actual and the expected return on the plan assets. The absolute difference in excess of 5 percent of the expected return is added to the market-related value over two years; the remainder is added to the market-related value immediately. To the extent the Company’s unrecognized net losses and unrecognized prior service costs, including the amount recognized through accumulated other comprehensive income, are not reduced by future favorable plan experience, they will be recognized as a component of the net periodic cost in future years. <div> 67 <hr style="border-top:1.5pt solid #000000;"/> <div style="page-break-after: always;"/> <a href="#t001">Index</a> </div> ALBANY INTERNATIONAL CORP. Notes to Consolidated Financial Statements 4. Pensions and Other Postretirement Benefit Plans — (continued) The following table sets forth the plan benefit obligations: <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="91.22807017543859%"> <thead> <tr class="odd" style=""> <td style="width:46%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td colspan="3" style="width:26%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> As of December 31, 2019 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td colspan="3" style="width:25%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> As of December 31, 2018 </td> </tr> <tr class="even" style=""> <td style="width:46%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> (in thousands) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Pension plans </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Other postretirement benefits </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Pension plans </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Other postretirement benefits </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:46%; vertical-align:bottom; "> Benefit obligation, beginning of year </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> $201,450 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> $51,127 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> $230,911 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> $58,531 </td> </tr> <tr class="even" style=""> <td style="width:46%; vertical-align:bottom; "> Service cost </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 2,543 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 189 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 2,723 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 232 </td> </tr> <tr class="odd" style=""> <td style="width:46%; vertical-align:bottom; "> Interest cost </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 7,216 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 2,115 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 7,217 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 2,024 </td> </tr> <tr class="even" style=""> <td style="width:46%; vertical-align:bottom; "> Plan participants' contributions </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 243 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 228 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> — </td> </tr> <tr class="odd" style=""> <td style="width:46%; vertical-align:bottom; "> Actuarial (gain)/loss </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 22,645 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 4,686 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> (10,666) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> (6,100) </td> </tr> <tr class="even" style=""> <td style="width:46%; vertical-align:bottom; "> Benefits paid </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> (8,404) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> (3,782) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> (7,814) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> (3,473) </td> </tr> <tr class="odd" style=""> <td style="width:46%; vertical-align:bottom; "> Settlements and curtailments </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> (1,768) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> (13,807) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> — </td> </tr> <tr class="even" style=""> <td style="width:46%; vertical-align:bottom; "> Plan amendments and other </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 152 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 534 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> — </td> </tr> <tr class="odd" style=""> <td style="width:46%; vertical-align:bottom; "> Foreign currency changes </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> 3,134 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> 49 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> (7,876) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> (87) </td> </tr> <tr class="even" style=""> <td style="width:46%; vertical-align:bottom; "> Benefit obligation, end of year </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> $227,211 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> $54,384 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> $201,450 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> $51,127 </td> </tr> <tr class="odd" style=""> <td style="width:46%; vertical-align:bottom; "> Accumulated benefit obligation </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> $218,006 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> $— </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> $193,870 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> $— </td> </tr> <tr class="even" style=""> <td style="width:46%; vertical-align:bottom; "> Weighted average assumptions used to </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> </td> </tr> <tr class="odd" style=""> <td style="width:46%; vertical-align:bottom; "> determine benefit obligations, end of year: </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td style="width:46%; vertical-align:bottom; "> Discount rate — U.S. plan </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 3.40% </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 3.27% </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 4.41% </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 4.31% </td> </tr> <tr class="odd" style=""> <td style="width:46%; vertical-align:bottom; "> Discount rate — non-U.S. plans </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 2.31% </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 3.05% </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 2.98% </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 3.65% </td> </tr> <tr class="even" style=""> <td style="width:46%; vertical-align:bottom; "> Compensation increase — U.S. plan </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 3.00% </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 3.00% </td> </tr> <tr class="odd" style=""> <td style="width:46%; vertical-align:bottom; "> Compensation increase — non-U.S. plans </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 2.81% </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 3.00% </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 3.02% </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 3.00% </td> </tr> <tr class="even" style=""> <td style="width:46%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:110%; vertical-align:bottom; "> </td> </tr> </tbody> </table> </div> The following sets forth information about plan assets: <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="91.22807017543859%"> <thead> <tr class="odd" style=""> <td style="width:46%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td colspan="3" style="width:26%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> As of December 31, 2019 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td colspan="3" style="width:25%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> As of December 31, 2018 </td> </tr> <tr class="even" style=""> <td style="width:46%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> (in thousands) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Pension plans </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Other postretirement benefits </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Pension plans </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Other postretirement benefits </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:46%; vertical-align:bottom; "> Fair value of plan assets, beginning of year </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> $178,942 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> $— </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> $205,586 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> $— </td> </tr> <tr class="even" style=""> <td style="width:46%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:10pt; text-align:left; margin-top:0pt; padding-left:10pt; text-indent: -10pt !important; padding-left: 20pt !important; margin-bottom: 0pt;color:#000000; ">Actual return on plan assets, net of expenses </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 32,367 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> (8,449) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> — </td> </tr> <tr class="odd" style=""> <td style="width:46%; vertical-align:bottom; "> Employer contributions </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 4,670 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 3,782 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 10,071 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 3,474 </td> </tr> <tr class="even" style=""> <td style="width:46%; vertical-align:bottom; "> Plan participants' contributions </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 243 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 228 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 14 </td> </tr> <tr class="odd" style=""> <td style="width:46%; vertical-align:bottom; "> Benefits paid </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> (8,404) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> (3,782) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> (7,813) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> (3,488) </td> </tr> <tr class="even" style=""> <td style="width:46%; vertical-align:bottom; "> Settlements </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> (260) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> (13,029) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> — </td> </tr> <tr class="odd" style=""> <td style="width:46%; vertical-align:bottom; "> Foreign currency changes </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> 4,197 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> (7,652) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> </tr> <tr class="even" style=""> <td style="width:46%; vertical-align:bottom; "> Fair value of plan assets, end of year </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> $211,755 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> $— </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> $178,942 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> $— </td> </tr> </tbody> </table> </div> <div> 68 <hr style="border-top:1.5pt solid #000000;"/> <div style="page-break-after: always;"/> <a href="#t001">Index</a> </div> ALBANY INTERNATIONAL CORP. Notes to Consolidated Financial Statements 4. Pensions and Other Postretirement Benefit Plans — (continued) The funded status of the plans was as follows: <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="91.22807017543859%"> <thead> <tr class="odd" style=""> <td style="width:46%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td colspan="3" style="width:26%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> As of December 31, 2019 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td colspan="3" style="width:25%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> As of December 31, 2018 </td> </tr> <tr class="even" style=""> <td style="width:46%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> (in thousands) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Pension plans </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Other postretirement benefits </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Pension plans </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Other postretirement benefits </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:46%; vertical-align:bottom; "> Fair value of plan assets </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> $211,755 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> $— </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> $178,942 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> $— </td> </tr> <tr class="even" style=""> <td style="width:46%; vertical-align:bottom; "> Benefit obligation </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> 227,211 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> 54,384 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> 201,450 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> 51,127 </td> </tr> <tr class="odd" style=""> <td style="width:46%; vertical-align:bottom; "> Funded status </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> $(15,456) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> $(54,384) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> $(22,508) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> $(51,127) </td> </tr> <tr class="even" style=""> <td style="width:46%; vertical-align:bottom; "> Accrued benefit cost, end of year </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> $(15,456) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> $(54,384) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> $(22,508) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> $(51,127) </td> </tr> <tr class="odd" style=""> <td style="width:46%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:10pt; text-align:left; margin-top:0pt; padding-left:0pt; text-indent: -10pt !important; padding-left: 10pt !important; margin-bottom: 0pt;color:#000000; ">Amounts recognized in the consolidated balance sheet consist of the following: </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td style="width:46%; vertical-align:bottom; "> Noncurrent asset </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> $21,337 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> $— </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> $14,206 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> $— </td> </tr> <tr class="odd" style=""> <td style="width:46%; vertical-align:bottom; "> Current liability </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> (2,155) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> (3,808) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> (2,124) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> (3,890) </td> </tr> <tr class="even" style=""> <td style="width:46%; vertical-align:bottom; "> Noncurrent liability </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> (34,638) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> (50,576) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> (34,590) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> (47,237) </td> </tr> <tr class="odd" style=""> <td style="width:46%; vertical-align:bottom; "> Net amount recognized </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> $(15,456) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> $(54,384) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> $(22,508) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> $(51,127) </td> </tr> <tr class="even" style=""> <td style="width:46%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:10pt; text-align:left; margin-top:0pt; padding-left:0pt; text-indent: -10pt !important; padding-left: 10pt !important; margin-bottom: 0pt;color:#000000; ">Amounts recognized in accumulated other comprehensive income consist of: </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> </td> </tr> <tr class="odd" style=""> <td style="width:46%; vertical-align:bottom; "> Net actuarial loss </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> $63,240 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> $28,119 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> $68,110 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> $25,660 </td> </tr> <tr class="even" style=""> <td style="width:46%; vertical-align:bottom; "> Prior service cost/(credit) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> 639 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> (17,434) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> 1,020 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> (21,922) </td> </tr> <tr class="odd" style=""> <td style="width:46%; vertical-align:bottom; "> Net amount recognized </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> $63,879 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> $10,685 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> $69,130 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> $3,738 </td> </tr> <tr class="even" style=""> <td style="width:46%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:110%; vertical-align:bottom; "> </td> </tr> </tbody> </table> </div> The composition of the net pension plan funded status as of December 31, 2019 was as follows: <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="100%"> <thead> <tr class="odd" style=""> <td style="width:61%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> (in thousands) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> U.S. plan </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Non-U.S. plans </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Total </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:61%; vertical-align:bottom; "> Pension plans with pension assets </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> $(660) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> $17,546 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> $16,886 </td> </tr> <tr class="even" style=""> <td style="width:61%; vertical-align:bottom; "> Pension plans without pension assets </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:0.5pt solid; "> (6,799) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> (25,543) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:0.5pt solid; "> (32,342) </td> </tr> <tr class="odd" style=""> <td style="width:61%; vertical-align:bottom; "> Total </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:0.5pt solid; "> $(7,459) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> $(7,997) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:0.5pt solid; "> $(15,456) </td> </tr> </tbody> </table> </div> The net underfunded balance in the U.S. principally relates to the Supplemental Executive Retirement Plan. <div> 69 <hr style="border-top:1.5pt solid #000000;"/> <div style="page-break-after: always;"/> <a href="#t001">Index</a> </div> ALBANY INTERNATIONAL CORP. Notes to Consolidated Financial Statements 4. Pensions and Other Postretirement Benefit Plans — (continued) The composition of the net periodic benefit plan cost for the years ended December 31, 2019, 2018, and 2017, was as follows: <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="91.22807017543859%"> <thead> <tr class="odd" style=""> <td style="width:40%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td colspan="5" style="width:29%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Pension plans </td> <td style="width:1%; vertical-align:bottom; "> </td> <td colspan="5" style="width:29%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Other postretirement benefits </td> </tr> <tr class="even" style=""> <td style="width:40%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> (in thousands) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2019 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2018 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2017 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2019 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2018 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2017 </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:40%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:10pt; text-align:left; margin-top:0pt; padding-left:0pt; text-indent: -10pt !important; padding-left: 10pt !important; margin-bottom: 0pt;color:#000000; ">Components of net periodic benefit cost: </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td style="width:40%; vertical-align:bottom; "> Service cost </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> $2,543 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> $2,723 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> $2,720 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> $189 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> $232 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> $244 </td> </tr> <tr class="odd" style=""> <td style="width:40%; vertical-align:bottom; "> Interest cost </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 7,216 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 7,217 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 7,476 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 2,114 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 2,024 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 2,214 </td> </tr> <tr class="even" style=""> <td style="width:40%; vertical-align:bottom; "> Expected return on assets </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> (8,285) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> (8,873) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> (8,152) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> — </td> </tr> <tr class="odd" style=""> <td style="width:40%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:10pt; text-align:left; margin-top:0pt; padding-left:0pt; text-indent: -10pt !important; padding-left: 10pt !important; margin-bottom: 0pt;color:#000000; ">Amortization of prior service cost/(credit) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 68 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 34 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 36 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> (4,488) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> (4,488) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> (4,488) </td> </tr> <tr class="even" style=""> <td style="width:40%; vertical-align:bottom; "> Amortization of net actuarial loss </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 2,253 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 2,219 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 2,628 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 2,227 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 2,956 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 2,811 </td> </tr> <tr class="odd" style=""> <td style="width:40%; vertical-align:bottom; "> Settlement </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> (16) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 2,246 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> — </td> </tr> <tr class="even" style=""> <td style="width:40%; vertical-align:bottom; "> Curtailment (gain)/loss </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:0.5pt solid; "> 466 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:0.5pt solid; "> (752) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> </tr> <tr class="odd" style=""> <td style="width:40%; vertical-align:bottom; "> Net periodic benefit cost </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:0.5pt solid; "> $4,245 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:0.5pt solid; "> $4,814 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:0.5pt solid; "> $4,708 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:0.5pt solid; "> $42 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:0.5pt solid; "> $724 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:0.5pt solid; "> $781 </td> </tr> <tr class="even" style=""> <td style="width:40%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> </td> </tr> <tr class="odd" style=""> <td style="width:40%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:10pt; text-align:left; margin-top:0pt; padding-left:0pt; text-indent: -10pt !important; padding-left: 10pt !important; margin-bottom: 0pt;color:#000000; ">Weighted average assumptions used to determine net cost: </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td style="width:40%; vertical-align:bottom; "> Discount rate — U.S. plan </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 4.41% </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 3.70% </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 4.20% </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 4.31% </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 3.59% </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 4.00% </td> </tr> <tr class="odd" style=""> <td style="width:40%; vertical-align:bottom; "> Discount rate — non-U.S. plans </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 2.98% </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 2.83% </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 2.98% </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 3.65% </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 3.40% </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 3.70% </td> </tr> <tr class="even" style=""> <td style="width:40%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:10pt; text-align:left; margin-top:0pt; padding-left:0pt; text-indent: -10pt !important; padding-left: 10pt !important; margin-bottom: 0pt;color:#000000; ">Expected return on plan assets — U.S. plan </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 4.57% </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 3.87% </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 4.40% </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> — </td> </tr> <tr class="odd" style=""> <td style="width:40%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:10pt; text-align:left; margin-top:0pt; padding-left:0pt; text-indent: -10pt !important; padding-left: 10pt !important; margin-bottom: 0pt;color:#000000; ">Expected return on plan assets — non-U.S. plans </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 4.45% </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 4.83% </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 4.46% </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> — </td> </tr> <tr class="even" style=""> <td style="width:40%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:10pt; text-align:left; margin-top:0pt; padding-left:0pt; text-indent: -10pt !important; padding-left: 10pt !important; margin-bottom: 0pt;color:#000000; ">Rate of compensation increase — U.S. plan </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 3.00% </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> — </td> </tr> <tr class="odd" style=""> <td style="width:40%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:10pt; text-align:left; margin-top:0pt; padding-left:0pt; text-indent: -10pt !important; padding-left: 10pt !important; margin-bottom: 0pt;color:#000000; ">Rate of compensation increase — non-U.S. plans </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 3.02% </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 3.04% </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 3.29% </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 3.00% </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 3.00% </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 3.00% </td> </tr> </tbody> </table> </div> Pretax (gains)/losses on plan assets and benefit obligations recognized in other comprehensive income for the years ended December 31, 2019, 2018, and 2017, was as follows: <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="91.22807017543859%"> <thead> <tr class="odd" style=""> <td style="width:40%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td colspan="5" style="width:29%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Pension plans </td> <td style="width:1%; vertical-align:bottom; "> </td> <td colspan="5" style="width:29%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Other postretirement benefits </td> </tr> <tr class="even" style=""> <td style="width:40%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> (in thousands) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2019 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2018 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2017 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2019 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2018 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2017 </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:40%; vertical-align:bottom; "> Settlements/curtailments </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> $(450) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> $(1,494) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> $— </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> $— </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> $— </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> $— </td> </tr> <tr class="even" style=""> <td style="width:40%; vertical-align:bottom; "> Asset/liability loss/(gain) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> (2,794) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 6,411 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> (4,408) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 4,685 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> (6,100) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 2,743 </td> </tr> <tr class="odd" style=""> <td style="width:40%; vertical-align:bottom; "> Amortization of actuarial (loss) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> (2,253) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> (2,219) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> (2,628) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> (2,227) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> (2,956) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> (2,811) </td> </tr> <tr class="even" style=""> <td style="width:40%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:10pt; text-align:left; margin-top:0pt; padding-left:0pt; text-indent: -10pt !important; padding-left: 10pt !important; margin-bottom: 0pt;color:#000000; ">Amortization of prior service cost/(credit) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> (68) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> (34) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> (36) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 4,488 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 4,488 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 4,488 </td> </tr> <tr class="odd" style=""> <td style="width:40%; vertical-align:bottom; "> Currency impact </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:0.5pt solid; "> 316 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:0.5pt solid; "> (1,389) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:0.5pt solid; "> 1,930 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:0.5pt solid; "> 2 </td> </tr> <tr class="even" style=""> <td style="width:40%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:10pt; text-align:left; margin-top:0pt; padding-left:0pt; text-indent: -10pt !important; padding-left: 10pt !important; margin-bottom: 0pt;color:#000000; ">Cost/(benefit) in Other comprehensive income </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:0.5pt solid; "> $(5,249) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:0.5pt solid; "> $1,275 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:0.5pt solid; "> $(5,142) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:0.5pt solid; "> $6,946 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:0.5pt solid; "> $(4,568) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:0.5pt solid; "> $4,422 </td> </tr> </tbody> </table> </div> <div> 70 <hr style="border-top:1.5pt solid #000000;"/> <div style="page-break-after: always;"/> <a href="#t001">Index</a> </div> ALBANY INTERNATIONAL CORP. Notes to Consolidated Financial Statements 4. Pensions and Other Postretirement Benefit Plans — (continued) The estimated amounts that will be amortized from accumulated other comprehensive income into net periodic benefit cost in 2020 are as follows: <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="91.22807017543859%"> <thead> <tr class="odd" style=""> <td style="width:66%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> (in thousands) </td> <td style="width:6%; vertical-align:bottom; "> </td> <td style="width:11%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Total pension </td> <td style="width:6%; vertical-align:bottom; "> </td> <td style="width:11%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Total postretirement benefits </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:66%; vertical-align:bottom; "> Actuarial loss </td> <td style="width:6%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> $2,409 </td> <td style="width:6%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> $2,592 </td> </tr> <tr class="even" style=""> <td style="width:66%; vertical-align:bottom; "> Prior service cost/(benefit) </td> <td style="width:6%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; border-bottom:0.5pt solid; "> 32 </td> <td style="width:6%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; border-bottom:0.5pt solid; "> (4,488) </td> </tr> <tr class="odd" style=""> <td style="width:66%; vertical-align:bottom; "> Total </td> <td style="width:6%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; border-bottom:3px double;"> $2,441 </td> <td style="width:6%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; border-bottom:3px double;"> $(1,896) </td> </tr> </tbody> </table> </div> Investment Strategy Our investment strategy for pension assets differs for the various countries in which we have defined benefit pension plans. Some of our defined benefit plans do not require funded trusts and, in those arrangements, the Company funds the plans on a “pay as you go” basis. The largest of the funded defined benefit plans is the United States plan. United States plan: During 2009, we changed our investment strategy for the United States pension plan by adopting a liability-driven investment strategy. Under this arrangement, the Company seeks to invest in assets that track closely to the discount rate that is used to measure the plan liabilities. Accordingly, the plan assets are primarily debt securities. The change in investment strategy is reflective of the Company’s 2008 decision to freeze benefit accruals under the plan. Non-United States plans: For the countries in which the Company has funded pension trusts, the investment strategy may also be liability driven or, in other cases, to achieve a competitive, total investment return, achieving diversification between and within asset classes and managing other risks. Investment objectives for each asset class are determined based on specific risks and investment opportunities identified. Actual allocations to each asset class vary from target allocations due to periodic investment strategy changes, market value fluctuations, the length of time it takes to fully implement investment allocation positions, and the timing of benefit payments and contributions. Fair-Value Measurements The following tables present plan assets as of December 31, 2019, and 2018, using the fair-value hierarchy, which has three levels based on the reliability of inputs used, as described in Note 17. Certain investments that are measured at fair value using net asset value (NAV) as a practical expedient are not required to be categorized in the fair value hierarchy table. The total fair value of these investments is included in the table below to permit reconciliation of the fair value hierarchy to amounts presented in the funded status table above. As of December 31, 2019 and 2018, there were no investments expected to be sold at a value materially different than NAV. <div> 71 <hr style="border-top:1.5pt solid #000000;"/> <div style="page-break-after: always;"/> <a href="#t001">Index</a> </div> ALBANY INTERNATIONAL CORP. Notes to Consolidated Financial Statements 4. Pensions and Other Postretirement Benefit Plans — (continued) <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="100%"> <thead> <tr class="odd" style=""> <td colspan="2" style="width:43%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td colspan="5" style="width:43%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Assets at Fair Value as of December 31, 2019 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td colspan="2" style="width:43%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> (in thousands) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Quoted prices in active markets Level 1 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Significant other observable inputs Level 2 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Significant unobservable inputs Level 3 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Total </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td colspan="2" style="width:43%; vertical-align:bottom; "> Common Stocks and equity funds </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> $216 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> $— </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> $— </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $216 </td> </tr> <tr class="even" style=""> <td colspan="2" style="width:43%; vertical-align:bottom; "> Debt securities </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> 92,721 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 92,721 </td> </tr> <tr class="odd" style=""> <td colspan="2" style="width:43%; vertical-align:bottom; "> Insurance contracts </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> 3,244 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 3,244 </td> </tr> <tr class="even" style=""> <td colspan="2" style="width:43%; vertical-align:bottom; "> Cash and short-term investments </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; border-bottom:0.5pt solid; "> 2,793 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 2,793 </td> </tr> <tr class="odd" style=""> <td colspan="2" style="width:43%; vertical-align:bottom; "> Total investments in the fair value hierarchy </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; border-bottom:0.5pt solid; "> $3,009 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; border-bottom:0.5pt solid; "> $92,721 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; border-bottom:0.5pt solid; "> $3,244 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 98,974 </td> </tr> <tr class="even" style=""> <td colspan="2" style="width:43%; vertical-align:bottom; "> Investments at net asset value: </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> </tr> <tr class="odd" style=""> <td colspan="2" style="width:43%; vertical-align:bottom; "> Common Stocks and equity funds </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 56,846 </td> </tr> <tr class="even" style=""> <td colspan="2" style="width:43%; vertical-align:bottom; "> Fixed income funds </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 52,751 </td> </tr> <tr class="odd" style=""> <td colspan="2" style="width:43%; vertical-align:bottom; "> Limited partnerships </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 3,184 </td> </tr> <tr class="even" style=""> <td colspan="2" style="width:43%; vertical-align:bottom; "> Total plan assets </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> $211,755 </td> </tr> </tbody> </table> </div> <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="100%"> <thead> <tr class="odd" style=""> <td colspan="2" style="width:43%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td colspan="5" style="width:47%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Assets at Fair Value as of December 31, 2018 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td colspan="2" style="width:43%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> (in thousands) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Quoted prices in active markets Level 1 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Significant other observable inputs Level 2 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Significant unobservable inputs Level 3 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Total </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td colspan="2" style="width:43%; vertical-align:bottom; "> Common Stocks and equity funds </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> $284 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> $— </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> $— </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> $284 </td> </tr> <tr class="even" style=""> <td colspan="2" style="width:43%; vertical-align:bottom; "> Debt securities </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 78,523 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 78,523 </td> </tr> <tr class="odd" style=""> <td colspan="2" style="width:43%; vertical-align:bottom; "> Insurance contracts </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 2,890 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 2,890 </td> </tr> <tr class="even" style=""> <td colspan="2" style="width:43%; vertical-align:bottom; "> Cash and short-term investments </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; border-bottom:0.5pt solid; "> 3,016 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:0.5pt solid; "> 3,016 </td> </tr> <tr class="odd" style=""> <td colspan="2" style="width:43%; vertical-align:bottom; "> Total investments in the fair value hierarchy </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; border-bottom:0.5pt solid; "> $3,300 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; border-bottom:0.5pt solid; "> $78,523 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; border-bottom:0.5pt solid; "> $2,890 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 84,713 </td> </tr> <tr class="even" style=""> <td colspan="2" style="width:43%; vertical-align:bottom; "> Investments at net asset value: </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> </td> </tr> <tr class="odd" style=""> <td colspan="2" style="width:43%; vertical-align:bottom; "> Common Stocks and equity funds </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 42,852 </td> </tr> <tr class="even" style=""> <td colspan="2" style="width:43%; vertical-align:bottom; "> Fixed income funds </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 47,534 </td> </tr> <tr class="odd" style=""> <td colspan="2" style="width:43%; vertical-align:bottom; "> Limited partnerships </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:0.5pt solid; "> 3,843 </td> </tr> <tr class="even" style=""> <td colspan="2" style="width:43%; vertical-align:bottom; "> Total plan assets </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:3px double;"> $178,942 </td> </tr> </tbody> </table> </div> The following tables present a reconciliation of Level 3 assets held during the years ended December 31, 2019 and 2018: <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="100%"> <thead> <tr class="odd" style=""> <td style="width:29%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> (in thousands) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:9%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> December 31, 2018 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Net realized gains </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Net unrealized gains </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Net purchases, issuances and settlements </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Net transfers (out of) Level 3 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> December 31, 2019 </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:29%; vertical-align:bottom; "> Insurance contracts - </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td style="width:29%; vertical-align:bottom; "> total level 3 assets </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:3px double;"> $2,890 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:3px double;"> $— </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:3px double;"> $20 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:3px double;"> $334 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:3px double;"> $— </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:3px double;"> $3,244 </td> </tr> </tbody> </table> </div> <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="100%"> <thead> <tr class="odd" style=""> <td style="width:29%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> (in thousands) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:9%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> December 31, 2017 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Net realized gains </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Net unrealized gains </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Net purchases, issuances and settlements </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Net transfers (out of) Level 3 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> December 31, 2018 </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:29%; vertical-align:bottom; "> Insurance contracts - </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td style="width:29%; vertical-align:bottom; "> total level 3 assets </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:3px double;"> $2,407 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:3px double;"> $— </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:3px double;"> $(45) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:3px double;"> $528 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:3px double;"> $— </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:3px double;"> $2,890 </td> </tr> </tbody> </table> </div> <div> 72 <hr style="border-top:1.5pt solid #000000;"/> <div style="page-break-after: always;"/> <a href="#t001">Index</a> </div> ALBANY INTERNATIONAL CORP. Notes to Consolidated Financial Statements 4. Pensions and Other Postretirement Benefit Plans — (continued) The asset allocation for the Company’s U.S. and non-U.S. pension plans for 2019 and 2018, and the target allocation, by asset category, are as follows: <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="100%"> <thead> <tr class="odd" style=""> <td colspan="2" style="width:30%; vertical-align:bottom; "> </td> <td colspan="5" style="width:34%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> United States Plan </td> <td style="width:2%; vertical-align:bottom; "> </td> <td colspan="5" style="width:34%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Non-U.S. Plans </td> </tr> <tr class="even" style=""> <td style="width:28%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> Target </td> <td style="width:2%; vertical-align:bottom; "> </td> <td colspan="3" style="width:22%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Percentage of plan assets at plan measurement date </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> Target </td> <td style="width:2%; vertical-align:bottom; "> </td> <td colspan="3" style="width:22%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Percentage of plan assets at plan measurement date </td> </tr> <tr class="odd" style=""> <td style="width:28%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Asset category </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Allocation </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2019 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2018 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Allocation </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2019 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2018 </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:28%; vertical-align:bottom; "> Equity securities </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> —% </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 1% </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 1% </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 13% </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 13% </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 19% </td> </tr> <tr class="even" style=""> <td style="width:28%; vertical-align:bottom; "> Debt securities </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 100% </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 96% </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 94% </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 82% </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 80% </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 74% </td> </tr> <tr class="odd" style=""> <td style="width:28%; vertical-align:bottom; "> Real estate </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> —% </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 2% </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 4% </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 1% </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 1% </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 1% </td> </tr> <tr class="even" style=""> <td style="width:28%; vertical-align:bottom; "> Other(1) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> —% </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 1% </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 1% </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 4% </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 6% </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 6% </td> </tr> <tr class="odd" style=""> <td style="width:28%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> 100% </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> 100% </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> 100% </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> 100% </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> 100% </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> 100% </td> </tr> </tbody> </table> </div> <div> <table cellpadding="0" style="border-collapse: collapse;" width="100%"> <tbody> <tr class="odd" style=""> <td colspan="2" style="width:100%; vertical-align:top; "> <hr style="border-top:0.5pt solid #000000; width:13%; margin-left: 0pt;text-align:left;"/> </td> </tr> <tr class="even" style=""> <td style="width:4%; vertical-align:top; "> (1) </td> <td style="width:94%; vertical-align:top; "> Other includes hedged equity and absolute return strategies, and private equity. The Company has procedures to closely monitor the performance of these investments and compares asset valuations to audited financial statements of the funds. </td> </tr> </tbody> </table> </div> The targeted plan asset allocation is based on an analysis of the actuarial liabilities, a review of viable asset classes, and an analysis of the expected rate of return, risk, and other investment characteristics of various investment asset classes. At the end of 2019 and 2018, the projected benefit obligation, accumulated benefit obligation, and fair value of plan assets for pension plans with projected benefit obligation and an accumulated benefit obligation in excess of plan assets were as follows: <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="91.22807017543859%"> <thead> <tr class="odd" style=""> <td style="width:72%; vertical-align:bottom; "> </td> <td style="width:4%; vertical-align:bottom; "> </td> <td colspan="3" style="width:24%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Plans with projected benefit obligation in excess of plan assets </td> </tr> <tr class="even" style=""> <td style="width:72%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> (in thousands) </td> <td style="width:4%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2019 </td> <td style="width:4%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2018 </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:72%; vertical-align:bottom; "> Projected benefit obligation </td> <td style="width:4%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $137,123 </td> <td style="width:4%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $123,261 </td> </tr> <tr class="even" style=""> <td style="width:72%; vertical-align:bottom; "> Fair value of plan assets </td> <td style="width:4%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 100,330 </td> <td style="width:4%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 86,547 </td> </tr> </tbody> </table> </div> <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="91.22807017543859%"> <thead> <tr class="odd" style=""> <td style="width:72%; vertical-align:bottom; "> </td> <td style="width:4%; vertical-align:bottom; "> </td> <td colspan="3" style="width:24%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Plans with accumulated benefit obligation in excess of plan assets </td> </tr> <tr class="even" style=""> <td style="width:72%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> (in thousands) </td> <td style="width:4%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2019 </td> <td style="width:4%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2018 </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:72%; vertical-align:bottom; "> Accumulated benefit obligation </td> <td style="width:4%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $134,737 </td> <td style="width:4%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $120,869 </td> </tr> <tr class="even" style=""> <td style="width:72%; vertical-align:bottom; "> Fair value of plan assets </td> <td style="width:4%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 100,330 </td> <td style="width:4%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 86,062 </td> </tr> </tbody> </table> </div> Information about expected cash flows for the pension and other benefit obligations are as follows: <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="91.22807017543859%"> <thead> <tr class="odd" style=""> <td style="width:62%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> (in thousands) </td> <td style="width:4%; vertical-align:bottom; "> </td> <td style="width:15%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Pension plans </td> <td style="width:4%; vertical-align:bottom; "> </td> <td style="width:15%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Other postretirement benefits </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:62%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:10pt; text-align:left; margin-top:0pt; padding-left:0pt; text-indent: -10pt !important; padding-left: 10pt !important; margin-bottom: 0pt;color:#000000; ">Expected employer contributions and direct employer payments in the next fiscal year </td> <td style="width:4%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; border-bottom:0.5pt solid; "> $2,446 </td> <td style="width:4%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; border-bottom:0.5pt solid; "> $3,808 </td> </tr> <tr class="even" style=""> <td style="width:62%; vertical-align:bottom; "> Expected benefit payments </td> <td style="width:4%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> <td style="width:4%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> </tr> <tr class="odd" style=""> <td style="width:62%; vertical-align:bottom; "> 2020 </td> <td style="width:4%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 7,905 </td> <td style="width:4%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 3,808 </td> </tr> <tr class="even" style=""> <td style="width:62%; vertical-align:bottom; "> 2021 </td> <td style="width:4%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 8,537 </td> <td style="width:4%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 3,738 </td> </tr> <tr class="odd" style=""> <td style="width:62%; vertical-align:bottom; "> 2022 </td> <td style="width:4%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 8,755 </td> <td style="width:4%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 3,683 </td> </tr> <tr class="even" style=""> <td style="width:62%; vertical-align:bottom; "> 2023 </td> <td style="width:4%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 9,068 </td> <td style="width:4%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 3,631 </td> </tr> <tr class="odd" style=""> <td style="width:62%; vertical-align:bottom; "> 2024 </td> <td style="width:4%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 9,531 </td> <td style="width:4%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 3,555 </td> </tr> <tr class="even" style=""> <td style="width:62%; vertical-align:bottom; "> 2025-2029 </td> <td style="width:4%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 53,652 </td> <td style="width:4%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 16,569 </td> </tr> </tbody> </table> </div>

0.45 0.46

53200000

1200000

The following table sets forth the plan benefit obligations: <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="91.22807017543859%"> <thead> <tr class="odd" style=""> <td style="width:46%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td colspan="3" style="width:26%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> As of December 31, 2019 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td colspan="3" style="width:25%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> As of December 31, 2018 </td> </tr> <tr class="even" style=""> <td style="width:46%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> (in thousands) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Pension plans </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Other postretirement benefits </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Pension plans </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Other postretirement benefits </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:46%; vertical-align:bottom; "> Benefit obligation, beginning of year </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> $201,450 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> $51,127 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> $230,911 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> $58,531 </td> </tr> <tr class="even" style=""> <td style="width:46%; vertical-align:bottom; "> Service cost </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 2,543 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 189 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 2,723 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 232 </td> </tr> <tr class="odd" style=""> <td style="width:46%; vertical-align:bottom; "> Interest cost </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 7,216 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 2,115 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 7,217 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 2,024 </td> </tr> <tr class="even" style=""> <td style="width:46%; vertical-align:bottom; "> Plan participants' contributions </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 243 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 228 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> — </td> </tr> <tr class="odd" style=""> <td style="width:46%; vertical-align:bottom; "> Actuarial (gain)/loss </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 22,645 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 4,686 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> (10,666) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> (6,100) </td> </tr> <tr class="even" style=""> <td style="width:46%; vertical-align:bottom; "> Benefits paid </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> (8,404) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> (3,782) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> (7,814) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> (3,473) </td> </tr> <tr class="odd" style=""> <td style="width:46%; vertical-align:bottom; "> Settlements and curtailments </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> (1,768) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> (13,807) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> — </td> </tr> <tr class="even" style=""> <td style="width:46%; vertical-align:bottom; "> Plan amendments and other </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 152 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 534 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> — </td> </tr> <tr class="odd" style=""> <td style="width:46%; vertical-align:bottom; "> Foreign currency changes </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> 3,134 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> 49 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> (7,876) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> (87) </td> </tr> <tr class="even" style=""> <td style="width:46%; vertical-align:bottom; "> Benefit obligation, end of year </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> $227,211 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> $54,384 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> $201,450 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> $51,127 </td> </tr> <tr class="odd" style=""> <td style="width:46%; vertical-align:bottom; "> Accumulated benefit obligation </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> $218,006 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> $— </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> $193,870 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> $— </td> </tr> <tr class="even" style=""> <td style="width:46%; vertical-align:bottom; "> Weighted average assumptions used to </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> </td> </tr> <tr class="odd" style=""> <td style="width:46%; vertical-align:bottom; "> determine benefit obligations, end of year: </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td style="width:46%; vertical-align:bottom; "> Discount rate — U.S. plan </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 3.40% </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 3.27% </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 4.41% </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 4.31% </td> </tr> <tr class="odd" style=""> <td style="width:46%; vertical-align:bottom; "> Discount rate — non-U.S. plans </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 2.31% </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 3.05% </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 2.98% </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 3.65% </td> </tr> <tr class="even" style=""> <td style="width:46%; vertical-align:bottom; "> Compensation increase — U.S. plan </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 3.00% </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 3.00% </td> </tr> <tr class="odd" style=""> <td style="width:46%; vertical-align:bottom; "> Compensation increase — non-U.S. plans </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 2.81% </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 3.00% </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 3.02% </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 3.00% </td> </tr> <tr class="even" style=""> <td style="width:46%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:110%; vertical-align:bottom; "> </td> </tr> </tbody> </table> </div>

201450000

51127000

230911000

58531000

2543000

189000

2723000

232000

7216000

7217000

2024000

243000

228000

-22645000

-4686000

10666000

6100000

8404000

3782000

7814000

3473000

1768000

13807000

152000

534000

3134000

49000

-7876000

-87000

227211000

54384000

201450000

51127000

218006000

193870000

0.0340

0.0327

0.0441

0.0431

0.0231

0.0305

0.0298

0.0365

0.0300

0.0281

0.0300

0.0302

0.0300

The following sets forth information about plan assets: <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="91.22807017543859%"> <thead> <tr class="odd" style=""> <td style="width:46%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td colspan="3" style="width:26%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> As of December 31, 2019 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td colspan="3" style="width:25%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> As of December 31, 2018 </td> </tr> <tr class="even" style=""> <td style="width:46%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> (in thousands) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Pension plans </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Other postretirement benefits </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Pension plans </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Other postretirement benefits </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:46%; vertical-align:bottom; "> Fair value of plan assets, beginning of year </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> $178,942 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> $— </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> $205,586 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> $— </td> </tr> <tr class="even" style=""> <td style="width:46%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:10pt; text-align:left; margin-top:0pt; padding-left:10pt; text-indent: -10pt !important; padding-left: 20pt !important; margin-bottom: 0pt;color:#000000; ">Actual return on plan assets, net of expenses </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 32,367 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> (8,449) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> — </td> </tr> <tr class="odd" style=""> <td style="width:46%; vertical-align:bottom; "> Employer contributions </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 4,670 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 3,782 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 10,071 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 3,474 </td> </tr> <tr class="even" style=""> <td style="width:46%; vertical-align:bottom; "> Plan participants' contributions </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 243 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 228 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 14 </td> </tr> <tr class="odd" style=""> <td style="width:46%; vertical-align:bottom; "> Benefits paid </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> (8,404) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> (3,782) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> (7,813) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> (3,488) </td> </tr> <tr class="even" style=""> <td style="width:46%; vertical-align:bottom; "> Settlements </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> (260) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> (13,029) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> — </td> </tr> <tr class="odd" style=""> <td style="width:46%; vertical-align:bottom; "> Foreign currency changes </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> 4,197 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> (7,652) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> </tr> <tr class="even" style=""> <td style="width:46%; vertical-align:bottom; "> Fair value of plan assets, end of year </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> $211,755 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> $— </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> $178,942 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> $— </td> </tr> </tbody> </table> </div>

178942000

205586000

32367000

-8449000

4670000

3782000

10071000

3474000

243000

228000

14000

8404000

3782000

260000

13029000

4197000

-7652000

211755000

178942000

The funded status of the plans was as follows: <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="91.22807017543859%"> <thead> <tr class="odd" style=""> <td style="width:46%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td colspan="3" style="width:26%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> As of December 31, 2019 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td colspan="3" style="width:25%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> As of December 31, 2018 </td> </tr> <tr class="even" style=""> <td style="width:46%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> (in thousands) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Pension plans </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Other postretirement benefits </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Pension plans </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Other postretirement benefits </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:46%; vertical-align:bottom; "> Fair value of plan assets </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> $211,755 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> $— </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> $178,942 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> $— </td> </tr> <tr class="even" style=""> <td style="width:46%; vertical-align:bottom; "> Benefit obligation </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> 227,211 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> 54,384 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> 201,450 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> 51,127 </td> </tr> <tr class="odd" style=""> <td style="width:46%; vertical-align:bottom; "> Funded status </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> $(15,456) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> $(54,384) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> $(22,508) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> $(51,127) </td> </tr> <tr class="even" style=""> <td style="width:46%; vertical-align:bottom; "> Accrued benefit cost, end of year </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> $(15,456) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> $(54,384) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> $(22,508) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> $(51,127) </td> </tr> <tr class="odd" style=""> <td style="width:46%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:10pt; text-align:left; margin-top:0pt; padding-left:0pt; text-indent: -10pt !important; padding-left: 10pt !important; margin-bottom: 0pt;color:#000000; ">Amounts recognized in the consolidated balance sheet consist of the following: </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td style="width:46%; vertical-align:bottom; "> Noncurrent asset </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> $21,337 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> $— </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> $14,206 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> $— </td> </tr> <tr class="odd" style=""> <td style="width:46%; vertical-align:bottom; "> Current liability </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> (2,155) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> (3,808) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> (2,124) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> (3,890) </td> </tr> <tr class="even" style=""> <td style="width:46%; vertical-align:bottom; "> Noncurrent liability </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> (34,638) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> (50,576) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> (34,590) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> (47,237) </td> </tr> <tr class="odd" style=""> <td style="width:46%; vertical-align:bottom; "> Net amount recognized </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> $(15,456) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> $(54,384) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> $(22,508) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> $(51,127) </td> </tr> <tr class="even" style=""> <td style="width:46%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:10pt; text-align:left; margin-top:0pt; padding-left:0pt; text-indent: -10pt !important; padding-left: 10pt !important; margin-bottom: 0pt;color:#000000; ">Amounts recognized in accumulated other comprehensive income consist of: </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> </td> </tr> <tr class="odd" style=""> <td style="width:46%; vertical-align:bottom; "> Net actuarial loss </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> $63,240 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> $28,119 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> $68,110 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> $25,660 </td> </tr> <tr class="even" style=""> <td style="width:46%; vertical-align:bottom; "> Prior service cost/(credit) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> 639 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> (17,434) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> 1,020 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> (21,922) </td> </tr> <tr class="odd" style=""> <td style="width:46%; vertical-align:bottom; "> Net amount recognized </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> $63,879 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> $10,685 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> $69,130 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> $3,738 </td> </tr> <tr class="even" style=""> <td style="width:46%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:110%; vertical-align:bottom; "> </td> </tr> </tbody> </table> </div>

211755000

178942000

227211000

54384000

201450000

51127000

-15456000

-54384000

-22508000

-51127000

21337000

14206000

2155000

3808000

2124000

3890000

34638000

50576000

34590000

47237000

-15456000

-54384000

-22508000

-51127000

-63240000

-28119000

-68110000

-25660000

639000

-17434000

1020000

-21922000

63879000

10685000

69130000

3738000

-660000

17546000

16886000

-6799000

-25543000

-32342000

-7459000

-7997000

-15456000

The composition of the net periodic benefit plan cost for the years ended December 31, 2019, 2018, and 2017, was as follows: <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="91.22807017543859%"> <thead> <tr class="odd" style=""> <td style="width:40%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td colspan="5" style="width:29%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Pension plans </td> <td style="width:1%; vertical-align:bottom; "> </td> <td colspan="5" style="width:29%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Other postretirement benefits </td> </tr> <tr class="even" style=""> <td style="width:40%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> (in thousands) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2019 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2018 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2017 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2019 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2018 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2017 </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:40%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:10pt; text-align:left; margin-top:0pt; padding-left:0pt; text-indent: -10pt !important; padding-left: 10pt !important; margin-bottom: 0pt;color:#000000; ">Components of net periodic benefit cost: </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td style="width:40%; vertical-align:bottom; "> Service cost </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> $2,543 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> $2,723 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> $2,720 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> $189 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> $232 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> $244 </td> </tr> <tr class="odd" style=""> <td style="width:40%; vertical-align:bottom; "> Interest cost </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 7,216 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 7,217 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 7,476 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 2,114 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 2,024 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 2,214 </td> </tr> <tr class="even" style=""> <td style="width:40%; vertical-align:bottom; "> Expected return on assets </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> (8,285) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> (8,873) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> (8,152) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> — </td> </tr> <tr class="odd" style=""> <td style="width:40%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:10pt; text-align:left; margin-top:0pt; padding-left:0pt; text-indent: -10pt !important; padding-left: 10pt !important; margin-bottom: 0pt;color:#000000; ">Amortization of prior service cost/(credit) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 68 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 34 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 36 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> (4,488) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> (4,488) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> (4,488) </td> </tr> <tr class="even" style=""> <td style="width:40%; vertical-align:bottom; "> Amortization of net actuarial loss </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 2,253 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 2,219 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 2,628 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 2,227 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 2,956 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 2,811 </td> </tr> <tr class="odd" style=""> <td style="width:40%; vertical-align:bottom; "> Settlement </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> (16) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 2,246 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> — </td> </tr> <tr class="even" style=""> <td style="width:40%; vertical-align:bottom; "> Curtailment (gain)/loss </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:0.5pt solid; "> 466 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:0.5pt solid; "> (752) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> </tr> <tr class="odd" style=""> <td style="width:40%; vertical-align:bottom; "> Net periodic benefit cost </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:0.5pt solid; "> $4,245 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:0.5pt solid; "> $4,814 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:0.5pt solid; "> $4,708 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:0.5pt solid; "> $42 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:0.5pt solid; "> $724 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:0.5pt solid; "> $781 </td> </tr> <tr class="even" style=""> <td style="width:40%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> </td> </tr> <tr class="odd" style=""> <td style="width:40%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:10pt; text-align:left; margin-top:0pt; padding-left:0pt; text-indent: -10pt !important; padding-left: 10pt !important; margin-bottom: 0pt;color:#000000; ">Weighted average assumptions used to determine net cost: </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td style="width:40%; vertical-align:bottom; "> Discount rate — U.S. plan </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 4.41% </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 3.70% </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 4.20% </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 4.31% </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 3.59% </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 4.00% </td> </tr> <tr class="odd" style=""> <td style="width:40%; vertical-align:bottom; "> Discount rate — non-U.S. plans </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 2.98% </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 2.83% </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 2.98% </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 3.65% </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 3.40% </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 3.70% </td> </tr> <tr class="even" style=""> <td style="width:40%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:10pt; text-align:left; margin-top:0pt; padding-left:0pt; text-indent: -10pt !important; padding-left: 10pt !important; margin-bottom: 0pt;color:#000000; ">Expected return on plan assets — U.S. plan </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 4.57% </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 3.87% </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 4.40% </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> — </td> </tr> <tr class="odd" style=""> <td style="width:40%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:10pt; text-align:left; margin-top:0pt; padding-left:0pt; text-indent: -10pt !important; padding-left: 10pt !important; margin-bottom: 0pt;color:#000000; ">Expected return on plan assets — non-U.S. plans </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 4.45% </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 4.83% </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 4.46% </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> — </td> </tr> <tr class="even" style=""> <td style="width:40%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:10pt; text-align:left; margin-top:0pt; padding-left:0pt; text-indent: -10pt !important; padding-left: 10pt !important; margin-bottom: 0pt;color:#000000; ">Rate of compensation increase — U.S. plan </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 3.00% </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> — </td> </tr> <tr class="odd" style=""> <td style="width:40%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:10pt; text-align:left; margin-top:0pt; padding-left:0pt; text-indent: -10pt !important; padding-left: 10pt !important; margin-bottom: 0pt;color:#000000; ">Rate of compensation increase — non-U.S. plans </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 3.02% </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 3.04% </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 3.29% </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 3.00% </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 3.00% </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 3.00% </td> </tr> </tbody> </table> </div>

2543000

2723000

2720000

189000

232000

244000

7216000

7217000

7476000

2114000

2024000

2214000

8285000

8873000

8152000

68000

34000

36000

-4488000

-2253000

-2219000

-2628000

-2227000

-2956000

-2811000

16000

-2246000

-466000

752000

4245000

4814000

4708000

42000

724000

781000

0.0441

0.0370

0.0420

0.0431

0.0359

0.0400

0.0298

0.0283

0.0298

0.0365

0.0340

0.0370

0.0457

0.0387

0.0440

0.0445

0.0483

0.0446

0.0300

0.0302

0.0304

0.0329

0.0300

Pretax (gains)/losses on plan assets and benefit obligations recognized in other comprehensive income for the years ended December 31, 2019, 2018, and 2017, was as follows: <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="91.22807017543859%"> <thead> <tr class="odd" style=""> <td style="width:40%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td colspan="5" style="width:29%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Pension plans </td> <td style="width:1%; vertical-align:bottom; "> </td> <td colspan="5" style="width:29%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Other postretirement benefits </td> </tr> <tr class="even" style=""> <td style="width:40%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> (in thousands) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2019 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2018 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2017 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2019 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2018 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2017 </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:40%; vertical-align:bottom; "> Settlements/curtailments </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> $(450) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> $(1,494) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> $— </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> $— </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> $— </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> $— </td> </tr> <tr class="even" style=""> <td style="width:40%; vertical-align:bottom; "> Asset/liability loss/(gain) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> (2,794) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 6,411 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> (4,408) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 4,685 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> (6,100) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 2,743 </td> </tr> <tr class="odd" style=""> <td style="width:40%; vertical-align:bottom; "> Amortization of actuarial (loss) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> (2,253) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> (2,219) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> (2,628) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> (2,227) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> (2,956) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> (2,811) </td> </tr> <tr class="even" style=""> <td style="width:40%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:10pt; text-align:left; margin-top:0pt; padding-left:0pt; text-indent: -10pt !important; padding-left: 10pt !important; margin-bottom: 0pt;color:#000000; ">Amortization of prior service cost/(credit) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> (68) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> (34) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> (36) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 4,488 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 4,488 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 4,488 </td> </tr> <tr class="odd" style=""> <td style="width:40%; vertical-align:bottom; "> Currency impact </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:0.5pt solid; "> 316 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:0.5pt solid; "> (1,389) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:0.5pt solid; "> 1,930 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:0.5pt solid; "> 2 </td> </tr> <tr class="even" style=""> <td style="width:40%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:10pt; text-align:left; margin-top:0pt; padding-left:0pt; text-indent: -10pt !important; padding-left: 10pt !important; margin-bottom: 0pt;color:#000000; ">Cost/(benefit) in Other comprehensive income </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:0.5pt solid; "> $(5,249) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:0.5pt solid; "> $1,275 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:0.5pt solid; "> $(5,142) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:0.5pt solid; "> $6,946 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:0.5pt solid; "> $(4,568) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:0.5pt solid; "> $4,422 </td> </tr> </tbody> </table> </div>

450000

1494000

2794000

-6411000

4408000

-4685000

6100000

-2743000

-2253000

-2219000

-2628000

-2227000

-2956000

-2811000

68000

34000

36000

-4488000

316000 -1389000 1930000 2000

-5249000

1275000

-5142000

6946000

-4568000

4422000

The estimated amounts that will be amortized from accumulated other comprehensive income into net periodic benefit cost in 2020 are as follows: <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="91.22807017543859%"> <thead> <tr class="odd" style=""> <td style="width:66%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> (in thousands) </td> <td style="width:6%; vertical-align:bottom; "> </td> <td style="width:11%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Total pension </td> <td style="width:6%; vertical-align:bottom; "> </td> <td style="width:11%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Total postretirement benefits </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:66%; vertical-align:bottom; "> Actuarial loss </td> <td style="width:6%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> $2,409 </td> <td style="width:6%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> $2,592 </td> </tr> <tr class="even" style=""> <td style="width:66%; vertical-align:bottom; "> Prior service cost/(benefit) </td> <td style="width:6%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; border-bottom:0.5pt solid; "> 32 </td> <td style="width:6%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; border-bottom:0.5pt solid; "> (4,488) </td> </tr> <tr class="odd" style=""> <td style="width:66%; vertical-align:bottom; "> Total </td> <td style="width:6%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; border-bottom:3px double;"> $2,441 </td> <td style="width:6%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; border-bottom:3px double;"> $(1,896) </td> </tr> </tbody> </table> </div>

2409000

2592000

32000

-4488000

2441000

-1896000

The following tables present plan assets as of December 31, 2019, and 2018, using the fair-value hierarchy, which has three levels based on the reliability of inputs used, as described in Note 17. Certain investments that are measured at fair value using net asset value (NAV) as a practical expedient are not required to be categorized in the fair value hierarchy table. The total fair value of these investments is included in the table below to permit reconciliation of the fair value hierarchy to amounts presented in the funded status table above. As of December 31, 2019 and 2018, there were no investments expected to be sold at a value materially different than NAV. <div> 71 <hr style="border-top:1.5pt solid #000000;"/> <div style="page-break-after: always;"/> <a href="#t001">Index</a> </div> ALBANY INTERNATIONAL CORP. Notes to Consolidated Financial Statements 4. Pensions and Other Postretirement Benefit Plans — (continued) <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="100%"> <thead> <tr class="odd" style=""> <td colspan="2" style="width:43%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td colspan="5" style="width:43%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Assets at Fair Value as of December 31, 2019 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td colspan="2" style="width:43%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> (in thousands) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Quoted prices in active markets Level 1 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Significant other observable inputs Level 2 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Significant unobservable inputs Level 3 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Total </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td colspan="2" style="width:43%; vertical-align:bottom; "> Common Stocks and equity funds </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> $216 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> $— </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> $— </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $216 </td> </tr> <tr class="even" style=""> <td colspan="2" style="width:43%; vertical-align:bottom; "> Debt securities </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> 92,721 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 92,721 </td> </tr> <tr class="odd" style=""> <td colspan="2" style="width:43%; vertical-align:bottom; "> Insurance contracts </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> 3,244 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 3,244 </td> </tr> <tr class="even" style=""> <td colspan="2" style="width:43%; vertical-align:bottom; "> Cash and short-term investments </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; border-bottom:0.5pt solid; "> 2,793 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 2,793 </td> </tr> <tr class="odd" style=""> <td colspan="2" style="width:43%; vertical-align:bottom; "> Total investments in the fair value hierarchy </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; border-bottom:0.5pt solid; "> $3,009 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; border-bottom:0.5pt solid; "> $92,721 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; border-bottom:0.5pt solid; "> $3,244 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 98,974 </td> </tr> <tr class="even" style=""> <td colspan="2" style="width:43%; vertical-align:bottom; "> Investments at net asset value: </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> </tr> <tr class="odd" style=""> <td colspan="2" style="width:43%; vertical-align:bottom; "> Common Stocks and equity funds </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 56,846 </td> </tr> <tr class="even" style=""> <td colspan="2" style="width:43%; vertical-align:bottom; "> Fixed income funds </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 52,751 </td> </tr> <tr class="odd" style=""> <td colspan="2" style="width:43%; vertical-align:bottom; "> Limited partnerships </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 3,184 </td> </tr> <tr class="even" style=""> <td colspan="2" style="width:43%; vertical-align:bottom; "> Total plan assets </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> $211,755 </td> </tr> </tbody> </table> </div> <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="100%"> <thead> <tr class="odd" style=""> <td colspan="2" style="width:43%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td colspan="5" style="width:47%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Assets at Fair Value as of December 31, 2018 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td colspan="2" style="width:43%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> (in thousands) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Quoted prices in active markets Level 1 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Significant other observable inputs Level 2 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Significant unobservable inputs Level 3 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Total </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td colspan="2" style="width:43%; vertical-align:bottom; "> Common Stocks and equity funds </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> $284 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> $— </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> $— </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> $284 </td> </tr> <tr class="even" style=""> <td colspan="2" style="width:43%; vertical-align:bottom; "> Debt securities </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 78,523 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 78,523 </td> </tr> <tr class="odd" style=""> <td colspan="2" style="width:43%; vertical-align:bottom; "> Insurance contracts </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 2,890 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 2,890 </td> </tr> <tr class="even" style=""> <td colspan="2" style="width:43%; vertical-align:bottom; "> Cash and short-term investments </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; border-bottom:0.5pt solid; "> 3,016 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:0.5pt solid; "> 3,016 </td> </tr> <tr class="odd" style=""> <td colspan="2" style="width:43%; vertical-align:bottom; "> Total investments in the fair value hierarchy </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; border-bottom:0.5pt solid; "> $3,300 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; border-bottom:0.5pt solid; "> $78,523 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; border-bottom:0.5pt solid; "> $2,890 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 84,713 </td> </tr> <tr class="even" style=""> <td colspan="2" style="width:43%; vertical-align:bottom; "> Investments at net asset value: </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> </td> </tr> <tr class="odd" style=""> <td colspan="2" style="width:43%; vertical-align:bottom; "> Common Stocks and equity funds </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 42,852 </td> </tr> <tr class="even" style=""> <td colspan="2" style="width:43%; vertical-align:bottom; "> Fixed income funds </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 47,534 </td> </tr> <tr class="odd" style=""> <td colspan="2" style="width:43%; vertical-align:bottom; "> Limited partnerships </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:0.5pt solid; "> 3,843 </td> </tr> <tr class="even" style=""> <td colspan="2" style="width:43%; vertical-align:bottom; "> Total plan assets </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:3px double;"> $178,942 </td> </tr> </tbody> </table> </div>

216000

92721000

3244000

2793000

3009000

92721000

3244000

98974000

56846000 52751000 3184000 211755000

284000

78523000

2890000

3016000

3300000

78523000

2890000

84713000

42852000 47534000 3843000 178942000

The following tables present a reconciliation of Level 3 assets held during the years ended December 31, 2019 and 2018: <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="100%"> <thead> <tr class="odd" style=""> <td style="width:29%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> (in thousands) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:9%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> December 31, 2018 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Net realized gains </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Net unrealized gains </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Net purchases, issuances and settlements </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Net transfers (out of) Level 3 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> December 31, 2019 </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:29%; vertical-align:bottom; "> Insurance contracts - </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td style="width:29%; vertical-align:bottom; "> total level 3 assets </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:3px double;"> $2,890 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:3px double;"> $— </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:3px double;"> $20 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:3px double;"> $334 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:3px double;"> $— </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:3px double;"> $3,244 </td> </tr> </tbody> </table> </div> <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="100%"> <thead> <tr class="odd" style=""> <td style="width:29%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> (in thousands) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:9%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> December 31, 2017 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Net realized gains </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Net unrealized gains </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Net purchases, issuances and settlements </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Net transfers (out of) Level 3 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> December 31, 2018 </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:29%; vertical-align:bottom; "> Insurance contracts - </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td style="width:29%; vertical-align:bottom; "> total level 3 assets </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:3px double;"> $2,407 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:3px double;"> $— </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:3px double;"> $(45) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:3px double;"> $528 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:3px double;"> $— </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:3px double;"> $2,890 </td> </tr> </tbody> </table> </div>

2890000

20000

334000

3244000

2407000

-45000

528000

2890000

The asset allocation for the Company’s U.S. and non-U.S. pension plans for 2019 and 2018, and the target allocation, by asset category, are as follows: <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="100%"> <thead> <tr class="odd" style=""> <td colspan="2" style="width:30%; vertical-align:bottom; "> </td> <td colspan="5" style="width:34%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> United States Plan </td> <td style="width:2%; vertical-align:bottom; "> </td> <td colspan="5" style="width:34%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Non-U.S. Plans </td> </tr> <tr class="even" style=""> <td style="width:28%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> Target </td> <td style="width:2%; vertical-align:bottom; "> </td> <td colspan="3" style="width:22%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Percentage of plan assets at plan measurement date </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> Target </td> <td style="width:2%; vertical-align:bottom; "> </td> <td colspan="3" style="width:22%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Percentage of plan assets at plan measurement date </td> </tr> <tr class="odd" style=""> <td style="width:28%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Asset category </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Allocation </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2019 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2018 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Allocation </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2019 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2018 </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:28%; vertical-align:bottom; "> Equity securities </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> —% </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 1% </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 1% </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 13% </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 13% </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 19% </td> </tr> <tr class="even" style=""> <td style="width:28%; vertical-align:bottom; "> Debt securities </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 100% </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 96% </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 94% </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 82% </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 80% </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 74% </td> </tr> <tr class="odd" style=""> <td style="width:28%; vertical-align:bottom; "> Real estate </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> —% </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 2% </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 4% </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 1% </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 1% </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 1% </td> </tr> <tr class="even" style=""> <td style="width:28%; vertical-align:bottom; "> Other(1) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> —% </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 1% </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 1% </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 4% </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 6% </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 6% </td> </tr> <tr class="odd" style=""> <td style="width:28%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> 100% </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> 100% </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> 100% </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> 100% </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> 100% </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> 100% </td> </tr> </tbody> </table> </div> <div> <table cellpadding="0" style="border-collapse: collapse;" width="100%"> <tbody> <tr class="odd" style=""> <td colspan="2" style="width:100%; vertical-align:top; "> <hr style="border-top:0.5pt solid #000000; width:13%; margin-left: 0pt;text-align:left;"/> </td> </tr> <tr class="even" style=""> <td style="width:4%; vertical-align:top; "> (1) </td> <td style="width:94%; vertical-align:top; "> Other includes hedged equity and absolute return strategies, and private equity. The Company has procedures to closely monitor the performance of these investments and compares asset valuations to audited financial statements of the funds. </td> </tr> </tbody> </table> </div> The targeted plan asset allocation is based on an analysis of the actuarial liabilities, a review of viable asset classes, and an analysis of the expected rate of return, risk, and other investment characteristics of various investment asset classes.

0.01

0.13

0.19

0.96

0.94

0.82

0.80

0.74

0.02

0.04

0.01

0.04

0.06

At the end of 2019 and 2018, the projected benefit obligation, accumulated benefit obligation, and fair value of plan assets for pension plans with projected benefit obligation and an accumulated benefit obligation in excess of plan assets were as follows: <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="91.22807017543859%"> <thead> <tr class="odd" style=""> <td style="width:72%; vertical-align:bottom; "> </td> <td style="width:4%; vertical-align:bottom; "> </td> <td colspan="3" style="width:24%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Plans with projected benefit obligation in excess of plan assets </td> </tr> <tr class="even" style=""> <td style="width:72%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> (in thousands) </td> <td style="width:4%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2019 </td> <td style="width:4%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2018 </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:72%; vertical-align:bottom; "> Projected benefit obligation </td> <td style="width:4%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $137,123 </td> <td style="width:4%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $123,261 </td> </tr> <tr class="even" style=""> <td style="width:72%; vertical-align:bottom; "> Fair value of plan assets </td> <td style="width:4%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 100,330 </td> <td style="width:4%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 86,547 </td> </tr> </tbody> </table> </div> <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="91.22807017543859%"> <thead> <tr class="odd" style=""> <td style="width:72%; vertical-align:bottom; "> </td> <td style="width:4%; vertical-align:bottom; "> </td> <td colspan="3" style="width:24%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Plans with accumulated benefit obligation in excess of plan assets </td> </tr> <tr class="even" style=""> <td style="width:72%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> (in thousands) </td> <td style="width:4%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2019 </td> <td style="width:4%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2018 </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:72%; vertical-align:bottom; "> Accumulated benefit obligation </td> <td style="width:4%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $134,737 </td> <td style="width:4%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $120,869 </td> </tr> <tr class="even" style=""> <td style="width:72%; vertical-align:bottom; "> Fair value of plan assets </td> <td style="width:4%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 100,330 </td> <td style="width:4%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 86,062 </td> </tr> </tbody> </table> </div> 137123000 123261000

100330000

86547000

134737000

120869000

100330000

86062000

Information about expected cash flows for the pension and other benefit obligations are as follows: <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="91.22807017543859%"> <thead> <tr class="odd" style=""> <td style="width:62%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> (in thousands) </td> <td style="width:4%; vertical-align:bottom; "> </td> <td style="width:15%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Pension plans </td> <td style="width:4%; vertical-align:bottom; "> </td> <td style="width:15%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Other postretirement benefits </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:62%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:10pt; text-align:left; margin-top:0pt; padding-left:0pt; text-indent: -10pt !important; padding-left: 10pt !important; margin-bottom: 0pt;color:#000000; ">Expected employer contributions and direct employer payments in the next fiscal year </td> <td style="width:4%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; border-bottom:0.5pt solid; "> $2,446 </td> <td style="width:4%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; border-bottom:0.5pt solid; "> $3,808 </td> </tr> <tr class="even" style=""> <td style="width:62%; vertical-align:bottom; "> Expected benefit payments </td> <td style="width:4%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> <td style="width:4%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> </tr> <tr class="odd" style=""> <td style="width:62%; vertical-align:bottom; "> 2020 </td> <td style="width:4%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 7,905 </td> <td style="width:4%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 3,808 </td> </tr> <tr class="even" style=""> <td style="width:62%; vertical-align:bottom; "> 2021 </td> <td style="width:4%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 8,537 </td> <td style="width:4%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 3,738 </td> </tr> <tr class="odd" style=""> <td style="width:62%; vertical-align:bottom; "> 2022 </td> <td style="width:4%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 8,755 </td> <td style="width:4%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 3,683 </td> </tr> <tr class="even" style=""> <td style="width:62%; vertical-align:bottom; "> 2023 </td> <td style="width:4%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 9,068 </td> <td style="width:4%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 3,631 </td> </tr> <tr class="odd" style=""> <td style="width:62%; vertical-align:bottom; "> 2024 </td> <td style="width:4%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 9,531 </td> <td style="width:4%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 3,555 </td> </tr> <tr class="even" style=""> <td style="width:62%; vertical-align:bottom; "> 2025-2029 </td> <td style="width:4%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 53,652 </td> <td style="width:4%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 16,569 </td> </tr> </tbody> </table> </div>

2446000

3808000

7905000

3808000

8537000

3738000

8755000

3683000

9068000

3631000

9531000

3555000

53652000

16569000

1100000

10700000

900000

12700000

2200000

1600000

1000000.0

3900000

100000

1100000

5000000.0

6200000

1900000

1700000

200000

1200000

3100000

4500000

2800000

The following table summarizes charges reported in the Consolidated Statements of Income under “Restructuring expenses, net”: <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="91.22807017543859%"> <thead> <tr class="odd" style=""> <td style="width:58%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Year ended December 31, 2019 (in thousands) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Total restructuring costs incurred </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Termination and other costs </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Impairment of assets </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:58%; vertical-align:bottom; "> Machine Clothing </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> $1,129 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> $667 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> $462 </td> </tr> <tr class="even" style=""> <td style="width:58%; vertical-align:bottom; "> Albany Engineered Composites </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 1,833 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 659 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 1,174 </td> </tr> <tr class="odd" style=""> <td style="width:58%; vertical-align:bottom; "> Corporate expenses </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> (57) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> (57) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> </tr> <tr class="even" style=""> <td style="width:58%; vertical-align:bottom; "> Total </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:3px double;"> $2,905 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:3px double;"> $1,269 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:3px double;"> $1,636 </td> </tr> </tbody> </table> </div> <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="91.22807017543859%"> <thead> <tr class="odd" style=""> <td style="width:58%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Year ended December 31, 2018 (in thousands) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Total restructuring costs incurred </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Termination and other costs </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Impairment of assets </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:58%; vertical-align:bottom; "> Machine Clothing </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> $12,278 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> $11,890 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> $388 </td> </tr> <tr class="even" style=""> <td style="width:58%; vertical-align:bottom; "> Albany Engineered Composites </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 3,048 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 1,286 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 1,762 </td> </tr> <tr class="odd" style=""> <td style="width:58%; vertical-align:bottom; "> Corporate expenses </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> 244 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> 244 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> </tr> <tr class="even" style=""> <td style="width:58%; vertical-align:bottom; "> Total </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:3px double;"> $15,570 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:3px double;"> $13,420 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:3px double;"> $2,150 </td> </tr> </tbody> </table> </div> <div> 74 <hr style="border-top:1.5pt solid #000000;"/> <div style="page-break-after: always;"/> <a href="#t001">Index</a> </div> ALBANY INTERNATIONAL CORP. Notes to Consolidated Financial Statements 5. Restructuring — (continued) <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="91.22807017543859%"> <thead> <tr class="odd" style=""> <td style="width:58%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Year ended December 31, 2017 (in thousands) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Total restructuring costs incurred </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Termination and other costs </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Impairment of assets </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:58%; vertical-align:bottom; "> Machine Clothing </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> $3,429 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> $2,945 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> $484 </td> </tr> <tr class="even" style=""> <td style="width:58%; vertical-align:bottom; "> Albany Engineered Composites </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 10,062 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 5,004 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 5,058 </td> </tr> <tr class="odd" style=""> <td style="width:58%; vertical-align:bottom; "> Corporate expenses </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> </tr> <tr class="even" style=""> <td style="width:58%; vertical-align:bottom; "> Total </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:3px double;"> $13,491 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:3px double;"> $7,949 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:3px double;"> $5,542 </td> </tr> </tbody> </table> </div>

1129000

667000

462000

1833000

659000

1174000

-57000

2905000

1269000

1636000

12278000

11890000

388000

3048000

1286000

1762000

244000

15570000

13420000

2150000

3429000

2945000

484000

10062000

5004000

5058000

13491000

7949000

5542000

We expect that approximately $1.3 million of Accrued liabilities for restructuring at December 31, 2019 will be paid within one year and approximately $0.7 million will be paid the following year. The table below presents the changes in restructuring liabilities for 2019 and 2018, all of which related to termination costs: <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="91.22807017543859%"> <thead> <tr class="odd" style=""> <td style="width:30%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> (in thousands) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> December 31, 2018 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Restructuring charges accrued </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Payments </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Currency translation/other </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> December 31, 2019 </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:30%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:10pt; text-align:left; margin-top:0pt; padding-left:0pt; text-indent: -10pt !important; padding-left: 10pt !important; margin-bottom: 0pt;color:#000000; ">Total termination and other costs </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:3px double;"> $5,570 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:3px double;"> $1,269 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:3px double;"> $(5,084) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:3px double;"> $287 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:3px double;"> $2,042 </td> </tr> </tbody> </table> </div> <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="91.22807017543859%"> <thead> <tr class="odd" style=""> <td style="width:30%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> (in thousands) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> December 31, 2017 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Restructuring charges accrued </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Payments </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Currency translation/other </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> December 31, 2018 </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:30%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:10pt; text-align:left; margin-top:0pt; padding-left:0pt; text-indent: -10pt !important; padding-left: 10pt !important; margin-bottom: 0pt;color:#000000; ">Total termination and other costs </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:3px double;"> $3,326 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:3px double;"> $13,420 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:3px double;"> $(10,696) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:3px double;"> $(480) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:3px double;"> $5,570 </td> </tr> </tbody> </table> </div>

5570000

1269000

5084000

287000

2042000

3326000

13420000

10696000

-480000

5570000

The components of Other (income)/expense, net, are: <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="91.22807017543859%"> <thead> <tr class="odd" style=""> <td style="width:67%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> (in thousands) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2019 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2018 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2017 </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:67%; vertical-align:bottom; "> Currency transactions </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $(4,473) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $(67) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $4,634 </td> </tr> <tr class="even" style=""> <td style="width:67%; vertical-align:bottom; "> Bank fees and amortization of debt issuance costs </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 348 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 417 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 487 </td> </tr> <tr class="odd" style=""> <td style="width:67%; vertical-align:bottom; "> Pension settlements and curtailments </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 450 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 1,494 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> </tr> <tr class="even" style=""> <td style="width:67%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:10pt; text-align:left; margin-top:0pt; padding-left:0pt; text-indent: -10pt !important; padding-left: 10pt !important; margin-bottom: 0pt;color:#000000; ">Components of net periodic pension and postretirement cost other than service </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 1,105 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 1,089 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 2,525 </td> </tr> <tr class="odd" style=""> <td style="width:67%; vertical-align:bottom; "> Gain on insurance recovery </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> (2,000) </td> </tr> <tr class="even" style=""> <td style="width:67%; vertical-align:bottom; "> Other </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 1,013 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 1,104 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 1,231 </td> </tr> <tr class="odd" style=""> <td style="width:67%; vertical-align:bottom; "> Total </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> $(1,557) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> $4,037 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> $6,877 </td> </tr> </tbody> </table> </div> In 2019, the Company took actions to freeze accrued benefits under the United Kingdom defined benefit pension plan, which resulted in a curtailment charge of $0.5 million.

67000 -4634000 348000 417000 487000 -450000 -1494000 1105000 1089000 2525000

2000000

-1013000 -1104000 -1231000

1557000

-4037000

-6877000

500000

2200000

700000

The following tables present components of income tax expense/(benefit) and income before income taxes on continuing operations: <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="91.22807017543859%"> <thead> <tr class="odd" style=""> <td style="width:61%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> (in thousands) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2019 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2018 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2017 </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:61%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:10pt; text-align:left; margin-top:0pt; padding-left:0pt; text-indent: -10pt !important; padding-left: 10pt !important; margin-bottom: 0pt;color:#000000; ">Income tax based on income from continuing operations, at estimated tax rates of 28%, 31%, and 32%, respectively </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> $49,977 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> $36,044 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> $17,519 </td> </tr> <tr class="even" style=""> <td style="width:61%; vertical-align:bottom; "> Income tax before discrete items </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 49,977 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 36,044 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 17,519 </td> </tr> <tr class="odd" style=""> <td style="width:61%; vertical-align:bottom; "> Discrete tax expense/(benefit): </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td style="width:61%; vertical-align:bottom; "> Net impact of mandatory deemed repatriation </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> (1,003) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 5,758 </td> </tr> <tr class="odd" style=""> <td style="width:61%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:10pt; text-align:left; margin-top:0pt; padding-left:10pt; text-indent: -10pt !important; padding-left: 20pt !important; margin-bottom: 0pt;color:#000000; ">Provision for/resolution of tax audits and contingencies, net </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> (2,874) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 1,286 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 1,329 </td> </tr> <tr class="even" style=""> <td style="width:61%; vertical-align:bottom; "> Adjustments to prior period tax liabilities </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> (1,637) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> (1,284) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> (840) </td> </tr> <tr class="odd" style=""> <td style="width:61%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:10pt; text-align:left; margin-top:0pt; padding-left:10pt; text-indent: -10pt !important; padding-left: 20pt !important; margin-bottom: 0pt;color:#000000; ">Provision for/adjustment to beginning of year valuation allowances </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> (525) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> (4,882) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> (3,522) </td> </tr> <tr class="even" style=""> <td style="width:61%; vertical-align:bottom; "> Enacted tax legislation </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> (112) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 2,067 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 1,879 </td> </tr> <tr class="odd" style=""> <td style="width:61%; vertical-align:bottom; "> Total income tax expense </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> $44,829 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> $32,228 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> $22,123 </td> </tr> </tbody> </table> </div> <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="91.22807017543859%"> <thead> <tr class="odd" style=""> <td style="width:61%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> (in thousands) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2019 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2018 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2017 </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:61%; vertical-align:bottom; "> Income/(loss) before income taxes: </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td style="width:61%; vertical-align:bottom; "> U.S. </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $76,024 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $41,875 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $(5,865) </td> </tr> <tr class="odd" style=""> <td style="width:61%; vertical-align:bottom; "> Non-U.S. </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 102,188 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 73,372 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 60,573 </td> </tr> <tr class="even" style=""> <td style="width:61%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> $178,212 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> $115,247 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> $54,708 </td> </tr> <tr class="odd" style=""> <td style="width:61%; vertical-align:bottom; "> Income tax provision </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td style="width:61%; vertical-align:bottom; "> Current: </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> </tr> <tr class="odd" style=""> <td style="width:61%; vertical-align:bottom; "> Federal </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $780 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $304 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $1,551 </td> </tr> <tr class="even" style=""> <td style="width:61%; vertical-align:bottom; "> State </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 6,357 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 4,996 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 1,770 </td> </tr> <tr class="odd" style=""> <td style="width:61%; vertical-align:bottom; "> Non-U.S. </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 25,255 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 21,557 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 19,282 </td> </tr> <tr class="even" style=""> <td style="width:61%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> $32,392 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> $26,857 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> $22,603 </td> </tr> <tr class="odd" style=""> <td style="width:61%; vertical-align:bottom; "> Deferred: </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td style="width:61%; vertical-align:bottom; "> Federal </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $10,583 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $10,700 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $1,881 </td> </tr> <tr class="odd" style=""> <td style="width:61%; vertical-align:bottom; "> State </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 253 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> (338) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> (1,237) </td> </tr> <tr class="even" style=""> <td style="width:61%; vertical-align:bottom; "> Non-U.S. </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 1,601 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> (4,991) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> (1,124) </td> </tr> <tr class="odd" style=""> <td style="width:61%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> $12,437 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> $5,371 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> $(480) </td> </tr> <tr class="even" style=""> <td style="width:61%; vertical-align:bottom; "> Total income tax expense </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> $44,829 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> $32,228 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> $22,123 </td> </tr> </tbody> </table> </div>

0.28 0.31 0.32

49977000

36044000

17519000

49977000 36044000 17519000 -1003000 5758000

-2874000

1286000

1329000

-1637000

-1284000

-840000

-525000

-4882000

-3522000

-112000 2067000 1879000

44829000

32228000

22123000

76024000

41875000

-5865000

102188000

73372000

60573000

178212000

115247000

54708000

780000

304000

1551000

6357000

4996000

1770000

25255000

21557000

19282000

32392000

26857000

22603000

10583000

10700000

1881000

253000

-338000

-1237000

1601000

-4991000

-1124000

12437000

5371000

-480000

44829000

32228000

22123000

The significant components of deferred income tax expense/(benefit) are as follows: <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="91.22807017543859%"> <thead> <tr class="odd" style=""> <td style="width:61%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> (in thousands) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2019 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2018 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2017 </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:61%; vertical-align:bottom; "> Net effect of temporary differences </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $(18) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $(4,657) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $(5,774) </td> </tr> <tr class="even" style=""> <td style="width:61%; vertical-align:bottom; "> Foreign tax credits </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 12,530 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 9,437 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 8,340 </td> </tr> <tr class="odd" style=""> <td style="width:61%; vertical-align:bottom; "> Retirement benefits </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> (752) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 2,360 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> (502) </td> </tr> <tr class="even" style=""> <td style="width:61%; vertical-align:bottom; "> Net impact to operating loss carryforwards </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 1,314 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 1,046 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> (900) </td> </tr> <tr class="odd" style=""> <td style="width:61%; vertical-align:bottom; "> Enacted changes in tax laws and rates </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> (112) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 2,067 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 1,878 </td> </tr> <tr class="even" style=""> <td style="width:61%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:10pt; text-align:left; margin-top:0pt; padding-left:0pt; text-indent: -10pt !important; padding-left: 10pt !important; margin-bottom: 0pt;color:#000000; ">Adjustment to beginning-of-the-year valuation allowance balance for changes in circumstances </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> (525) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> (4,882) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> (3,522) </td> </tr> <tr class="odd" style=""> <td style="width:61%; vertical-align:bottom; "> Total </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> $12,437 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> $5,371 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> $(480) </td> </tr> </tbody> </table> </div>

-18000 -4657000 -5774000 12530000 9437000 8340000 -752000 2360000 -502000 1314000 1046000 -900000

-112000

2067000

1878000

-525000

-4882000

-3522000

12437000

5371000

-480000

A reconciliation of the U.S. federal statutory tax rate to the Company’s effective income tax rate is as follows: <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="91.22807017543859%"> <thead> <tr class="odd" style=""> <td style="width:64%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2019 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2018 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2017 </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:64%; vertical-align:bottom; "> U.S. federal statutory tax rate </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 21.0% </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 21.0% </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 35.0% </td> </tr> <tr class="even" style=""> <td style="width:64%; vertical-align:bottom; "> State taxes, net of federal benefit </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 3.0 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 2.9 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 0.4 </td> </tr> <tr class="odd" style=""> <td style="width:64%; vertical-align:bottom; "> Non-U.S. local income taxes </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 4.4 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 3.3 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 5.9 </td> </tr> <tr class="even" style=""> <td style="width:64%; vertical-align:bottom; "> US permanent adjustments </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> (0.3) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 0.5 </td> </tr> <tr class="odd" style=""> <td style="width:64%; vertical-align:bottom; "> Foreign permanent adjustments </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 0.4 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> (0.4) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 0.4 </td> </tr> <tr class="even" style=""> <td style="width:64%; vertical-align:bottom; "> Foreign rate differential </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 0.5 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 0.2 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> (10.5) </td> </tr> <tr class="odd" style=""> <td style="width:64%; vertical-align:bottom; "> Net U.S. tax on non-U.S. earnings and foreign withholdings </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 0.3 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 5.7 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 11.9 </td> </tr> <tr class="even" style=""> <td style="width:64%; vertical-align:bottom; "> Provision for/resolution of tax audits and contingencies, net </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> (1.6) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 1.1 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 2.4 </td> </tr> <tr class="odd" style=""> <td style="width:64%; vertical-align:bottom; "> Research and development and other tax credits </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> (0.3) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> (0.1) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> (1.5) </td> </tr> <tr class="even" style=""> <td style="width:64%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:10pt; text-align:left; margin-top:0pt; padding-left:0pt; text-indent: -10pt !important; padding-left: 10pt !important; margin-bottom: 0pt;color:#000000; ">Provision for/adjustment to beginning of year valuation allowances </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> (0.3) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> (4.2) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> (6.4) </td> </tr> <tr class="odd" style=""> <td style="width:64%; vertical-align:bottom; "> Enacted tax legislation and rate change </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> (0.1) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 1.8 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 3.0 </td> </tr> <tr class="even" style=""> <td style="width:64%; vertical-align:bottom; "> Return to provision and other adjustments </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> (2.1) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> (3.0) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> (0.7) </td> </tr> <tr class="odd" style=""> <td style="width:64%; vertical-align:bottom; "> Effective income tax rate </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> 25.2% </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> 28.0% </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> 40.4% </td> </tr> </tbody> </table> </div>

0.210

0.350

0.030

0.029

0.004

0.044 0.033 0.059 -0.003 0.005 0.004 -0.004 0.004

0.005

0.002

-0.105

0.003 0.057 0.119

-0.016

0.011

0.024

-0.003 -0.001 -0.015

-0.003

-0.042

-0.064

-0.001

0.018

0.030

-0.021

-0.030

-0.007

0.252

0.280

0.404

0.21 0.21

0.34

0.25

0.30

0.078

<div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="91.22807017543859%"> <thead> <tr class="odd" style=""> <td style="width:48%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td colspan="3" style="width:23%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> U.S. </td> <td style="width:3%; vertical-align:bottom; "> </td> <td colspan="3" style="width:23%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Non-U.S. </td> </tr> <tr class="even" style=""> <td style="width:48%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> (in thousands) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2019 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2018 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2019 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2018 </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:48%; vertical-align:bottom; "> Noncurrent deferred tax assets: </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td style="width:48%; vertical-align:bottom; "> Accounts receivable </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $823 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $686 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $1,050 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $1,224 </td> </tr> <tr class="odd" style=""> <td style="width:48%; vertical-align:bottom; "> Inventories </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 636 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 442 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 1,231 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 829 </td> </tr> <tr class="even" style=""> <td style="width:48%; vertical-align:bottom; "> Deferred compensation </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 4,730 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 4,460 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 1,386 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 1,053 </td> </tr> <tr class="odd" style=""> <td style="width:48%; vertical-align:bottom; "> Depreciation and amortization </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 4,892 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 4,252 </td> </tr> <tr class="even" style=""> <td style="width:48%; vertical-align:bottom; "> Postretirement benefits </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 14,885 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 14,759 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 1,048 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 1,667 </td> </tr> <tr class="odd" style=""> <td style="width:48%; vertical-align:bottom; "> Tax loss carryforwards </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 2,266 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 1,199 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 21,467 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 21,890 </td> </tr> <tr class="even" style=""> <td style="width:48%; vertical-align:bottom; "> Tax credit carryforwards </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 15,931 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 30,523 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 936 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 1,197 </td> </tr> <tr class="odd" style=""> <td style="width:48%; vertical-align:bottom; "> Derivatives </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 1,411 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> </tr> <tr class="even" style=""> <td style="width:48%; vertical-align:bottom; "> Reserves </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 2,953 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 3,954 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> </tr> <tr class="odd" style=""> <td style="width:48%; vertical-align:bottom; "> Deferred Revenue </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 2,417 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 3,556 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> </tr> <tr class="even" style=""> <td style="width:48%; vertical-align:bottom; "> Other </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 516 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 990 </td> </tr> <tr class="odd" style=""> <td style="width:48%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:10pt; text-align:left; margin-top:0pt; padding-left:0pt; text-indent: -10pt !important; padding-left: 10pt !important; margin-bottom: 0pt;color:#000000; ">Noncurrent deferred tax assets before valuation allowance </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 46,052 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 60,095 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 32,010 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 33,102 </td> </tr> <tr class="even" style=""> <td style="width:48%; vertical-align:bottom; "> Less: valuation allowance </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> (9,102) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> (8,389) </td> </tr> <tr class="odd" style=""> <td style="width:48%; vertical-align:bottom; "> Total noncurrent deferred tax assets </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 46,052 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 60,095 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 22,908 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 24,713 </td> </tr> <tr class="even" style=""> <td style="width:48%; vertical-align:bottom; "> Total deferred tax assets </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> $46,052 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> $60,095 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> $22,908 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> $24,713 </td> </tr> <tr class="odd" style=""> <td style="width:48%; vertical-align:bottom; "> Noncurrent deferred tax liabilities: </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td style="width:48%; vertical-align:bottom; "> Unrepatriated foreign earnings </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $2,202 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $4,028 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $— </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $— </td> </tr> <tr class="odd" style=""> <td style="width:48%; vertical-align:bottom; "> Depreciation and amortization </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 4,404 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 12,848 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> </tr> <tr class="even" style=""> <td style="width:48%; vertical-align:bottom; "> Postretirement benefits </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> </tr> <tr class="odd" style=""> <td style="width:48%; vertical-align:bottom; "> Deferred gain </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 3,391 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 3,762 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> </tr> <tr class="even" style=""> <td style="width:48%; vertical-align:bottom; "> Derivatives </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 1,162 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> </tr> <tr class="odd" style=""> <td style="width:48%; vertical-align:bottom; "> Flow-through DTL's </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 6,205 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 2,192 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> </tr> <tr class="even" style=""> <td style="width:48%; vertical-align:bottom; "> Deferred Revenue </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 8,492 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 5,740 </td> </tr> <tr class="odd" style=""> <td style="width:48%; vertical-align:bottom; "> Other </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 510 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 3,137 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> </tr> <tr class="even" style=""> <td style="width:48%; vertical-align:bottom; "> Total noncurrent deferred tax liabilities </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> $16,712 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> $23,992 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> $11,629 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> $5,740 </td> </tr> <tr class="odd" style=""> <td style="width:48%; vertical-align:bottom; "> Net deferred tax liabilities </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> $16,712 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> $23,992 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> $11,629 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> $5,740 </td> </tr> <tr class="even" style=""> <td style="width:48%; vertical-align:bottom; "> Net deferred tax asset </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> $29,340 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> $36,103 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> $11,279 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> $18,973 </td> </tr> </tbody> </table> </div>

823000

686000

1050000

1224000

636000

442000

1231000

829000

4730000

4460000

1386000

1053000

4892000

4252000

14885000

14759000

1048000

1667000

2266000

1199000

21467000

21890000

15931000

30523000

936000

1197000

1411000

2953000

3954000

2417000

3556000

516000

46052000

60095000

32010000

33102000

9102000

8389000

46052000

60095000

22908000

24713000

46052000

60095000

22908000

24713000

2202000

4028000

4404000

12848000

3391000

3762000

1162000

6205000 2192000 8492000 5740000

510000

3137000

16712000

23992000

11629000

5740000

16712000

23992000

11629000

5740000

29340000

36103000

11279000

18973000

800000

-100000

1300000

112900000

24300000

9100000

38800000

11700000

8000000.0

900000

29300000

22600000

94400000

1200000

1000000.0

169100000

The following table provides a reconciliation of the beginning and ending amount of unrecognized tax benefits, $1.0 million of which, if recognized, would impact the effective tax rate: <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="91.22807017543859%"> <thead> <tr class="odd" style=""> <td style="width:55%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> (in thousands) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2019 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2018 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2017 </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:55%; vertical-align:bottom; "> Unrecognized tax benefits balance at January 1st </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> $3,790 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> $4,509 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> $4,183 </td> </tr> <tr class="even" style=""> <td style="width:55%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:10pt; text-align:left; margin-top:0pt; padding-left:0pt; text-indent: -10pt !important; padding-left: 10pt !important; margin-bottom: 0pt;color:#000000; ">Increase in gross amounts of tax positions related to prior years </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 4,874 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 2,008 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 480 </td> </tr> <tr class="odd" style=""> <td style="width:55%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:10pt; text-align:left; margin-top:0pt; padding-left:0pt; text-indent: -10pt !important; padding-left: 10pt !important; margin-bottom: 0pt;color:#000000; ">Decrease in gross amounts of tax positions related to prior years </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> (2,239) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> (358) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> (50) </td> </tr> <tr class="even" style=""> <td style="width:55%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:10pt; text-align:left; margin-top:0pt; padding-left:0pt; text-indent: -10pt !important; padding-left: 10pt !important; margin-bottom: 0pt;color:#000000; ">Increase in gross amounts of tax positions related to current years </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> — </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> — </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> — </td> </tr> <tr class="odd" style=""> <td style="width:55%; vertical-align:bottom; "> Decrease due to settlements with tax authorities </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> — </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> (1,626) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> (381) </td> </tr> <tr class="even" style=""> <td style="width:55%; vertical-align:bottom; "> Decrease due to lapse in statute of limitations </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> (626) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> (479) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> (29) </td> </tr> <tr class="odd" style=""> <td style="width:55%; vertical-align:bottom; "> Currency translation </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> 35 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> (264) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> 306 </td> </tr> <tr class="even" style=""> <td style="width:55%; vertical-align:bottom; "> Unrecognized tax benefits balance at December 31 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:3px double;"> $5,834 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:3px double;"> $3,790 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:3px double;"> $4,509 </td> </tr> </tbody> </table> </div>

3790000

4509000

4183000

4874000

2008000

480000

2239000

358000

50000

1626000

381000

626000

479000

29000

35000

264000

306000

5834000

3790000

4509000

200000

100000

400000

2007

2019

2200000

As of December 31, 2019, and 2018, current income taxes prepaid and receivable consisted of the following: <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="91.22807017543859%"> <thead> <tr class="odd" style=""> <td style="width:74%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> (in thousands) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2019 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2018 </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:74%; vertical-align:bottom; "> Prepaid taxes </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $4,399 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $4,859 </td> </tr> <tr class="even" style=""> <td style="width:74%; vertical-align:bottom; "> Taxes receivable </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 1,763 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 2,614 </td> </tr> <tr class="odd" style=""> <td style="width:74%; vertical-align:bottom; "> Total current income taxes prepaid and receivable </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> $6,162 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> $7,473 </td> </tr> </tbody> </table> </div>

4399000

4859000

1763000

2614000

6162000

7473000

As of December 31, 2019, and 2018, noncurrent deferred taxes and other liabilities consisted of the following: <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="91.22807017543859%"> <thead> <tr class="odd" style=""> <td style="width:74%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> (in thousands) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2019 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2018 </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:74%; vertical-align:bottom; "> Deferred income taxes </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $11,002 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $7,547 </td> </tr> <tr class="even" style=""> <td style="width:74%; vertical-align:bottom; "> Other liabilities </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 1,224 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 875 </td> </tr> <tr class="odd" style=""> <td style="width:74%; vertical-align:bottom; "> Total noncurrent deferred taxes and other liabilities </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> $ 12,226 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> $ 8,422 </td> </tr> </tbody> </table> </div>

11002000

7547000

1224000 875000

12226000

8422000

25900000

28100000

23700000

8. Earnings Per Share The amounts used in computing earnings per share and the weighted average number of shares of potentially dilutive securities are as follows: <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="91.22807017543859%"> <thead> <tr class="odd" style=""> <td style="width:62%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> (in thousands, except market price and earnings per share) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2019 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2018 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2017 </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:62%; vertical-align:bottom; "> Net income attributable to the Company </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> $132,398 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> $82,891 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> $33,111 </td> </tr> <tr class="even" style=""> <td style="width:62%; vertical-align:bottom; "> Weighted average number of shares: </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> </tr> <tr class="odd" style=""> <td style="width:62%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:10pt; text-align:left; margin-top:0pt; padding-left:10pt; text-indent: -10pt !important; padding-left: 20pt !important; margin-bottom: 0pt;color:#000000; ">Weighted average number of shares used in calculating basic net income per share </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 32,296 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 32,252 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 32,169 </td> </tr> <tr class="even" style=""> <td style="width:62%; vertical-align:bottom; "> Effect of dilutive stock-based compensation plans: </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> </tr> <tr class="odd" style=""> <td style="width:62%; vertical-align:bottom; "> Stock options </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 12 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 15 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 30 </td> </tr> <tr class="even" style=""> <td style="width:62%; vertical-align:bottom; "> Long-term incentive plan </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 14 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 28 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 45 </td> </tr> <tr class="odd" style=""> <td style="width:62%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:10pt; text-align:left; margin-top:0pt; padding-left:0pt; text-indent: -10pt !important; padding-left: 10pt !important; margin-bottom: 0pt;color:#000000; ">Weighted average number of shares used in calculating diluted net income per share </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 32,322 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 32,295 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 32,244 </td> </tr> <tr class="even" style=""> <td style="width:62%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:10pt; text-align:left; margin-top:0pt; padding-left:0pt; text-indent: -10pt !important; padding-left: 10pt !important; margin-bottom: 0pt;color:#000000; ">Average market price of common stock used for calculation of dilutive shares </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> $78.13 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> $66.95 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> $52.19 </td> </tr> <tr class="odd" style=""> <td style="width:62%; vertical-align:bottom; "> Net income per share: </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td style="width:62%; vertical-align:bottom; "> Basic </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $4.10 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $2.57 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $1.03 </td> </tr> <tr class="odd" style=""> <td style="width:62%; vertical-align:bottom; "> Diluted </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> $4.10 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> $2.57 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> $1.03 </td> </tr> </tbody> </table> </div> Shares outstanding, net of treasury shares, were 32.3 million as of December 31, 2019 and 2018, and were 32.2 million as of December 31, 2017.

The amounts used in computing earnings per share and the weighted average number of shares of potentially dilutive securities are as follows: <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="91.22807017543859%"> <thead> <tr class="odd" style=""> <td style="width:62%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> (in thousands, except market price and earnings per share) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2019 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2018 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2017 </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:62%; vertical-align:bottom; "> Net income attributable to the Company </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> $132,398 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> $82,891 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> $33,111 </td> </tr> <tr class="even" style=""> <td style="width:62%; vertical-align:bottom; "> Weighted average number of shares: </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> </tr> <tr class="odd" style=""> <td style="width:62%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:10pt; text-align:left; margin-top:0pt; padding-left:10pt; text-indent: -10pt !important; padding-left: 20pt !important; margin-bottom: 0pt;color:#000000; ">Weighted average number of shares used in calculating basic net income per share </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 32,296 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 32,252 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 32,169 </td> </tr> <tr class="even" style=""> <td style="width:62%; vertical-align:bottom; "> Effect of dilutive stock-based compensation plans: </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> </tr> <tr class="odd" style=""> <td style="width:62%; vertical-align:bottom; "> Stock options </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 12 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 15 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 30 </td> </tr> <tr class="even" style=""> <td style="width:62%; vertical-align:bottom; "> Long-term incentive plan </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 14 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 28 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 45 </td> </tr> <tr class="odd" style=""> <td style="width:62%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:10pt; text-align:left; margin-top:0pt; padding-left:0pt; text-indent: -10pt !important; padding-left: 10pt !important; margin-bottom: 0pt;color:#000000; ">Weighted average number of shares used in calculating diluted net income per share </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 32,322 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 32,295 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 32,244 </td> </tr> <tr class="even" style=""> <td style="width:62%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:10pt; text-align:left; margin-top:0pt; padding-left:0pt; text-indent: -10pt !important; padding-left: 10pt !important; margin-bottom: 0pt;color:#000000; ">Average market price of common stock used for calculation of dilutive shares </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> $78.13 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> $66.95 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> $52.19 </td> </tr> <tr class="odd" style=""> <td style="width:62%; vertical-align:bottom; "> Net income per share: </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td style="width:62%; vertical-align:bottom; "> Basic </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $4.10 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $2.57 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $1.03 </td> </tr> <tr class="odd" style=""> <td style="width:62%; vertical-align:bottom; "> Diluted </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> $4.10 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> $2.57 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> $1.03 </td> </tr> </tbody> </table> </div>

132398000

82891000

33111000

32296000

32252000

32169000

12000 15000 30000 14000 28000 45000

32322000

32295000

32244000

78.13 66.95 52.19

4.10

2.57

1.03

4.10

2.57

1.03

32300000

32200000

The table below presents changes in the components of AOCI from January 1, 2017 to December 31, 2019: <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="100%"> <thead> <tr class="odd" style=""> <td style="width:40%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> (in thousands) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Translation adjustments </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Pension and postretirement liability adjustments </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Derivative valuation adjustment </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Total Other Comprehensive Income </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:40%; vertical-align:bottom; "> January 1, 2017 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; border-bottom:0.5pt solid; "> $(133,298) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; border-bottom:0.5pt solid; "> $(51,719) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; border-bottom:0.5pt solid; "> $828 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; border-bottom:0.5pt solid; "> $(184,189) </td> </tr> <tr class="even" style=""> <td style="width:40%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> </td> </tr> <tr class="odd" style=""> <td style="width:40%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:10pt; text-align:left; margin-top:0pt; padding-left:0pt; text-indent: -10pt !important; padding-left: 10pt !important; margin-bottom: 0pt;color:#000000; ">Other comprehensive income/(loss) before reclassifications </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> 45,980 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> (1,818) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> 201 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> 44,363 </td> </tr> <tr class="even" style=""> <td style="width:40%; vertical-align:bottom; "> Pension/postretirement plan remeasurement. </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> 2,037 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> 2,037 </td> </tr> <tr class="odd" style=""> <td style="width:40%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:10pt; text-align:left; margin-top:0pt; padding-left:0pt; text-indent: -10pt !important; padding-left: 10pt !important; margin-bottom: 0pt;color:#000000; ">Interest expense related to swaps reclassified to the Statements of Income, net of tax </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> 924 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> 924 </td> </tr> <tr class="even" style=""> <td style="width:40%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:10pt; text-align:left; margin-top:0pt; padding-left:0pt; text-indent: -10pt !important; padding-left: 10pt !important; margin-bottom: 0pt;color:#000000; ">Pension and postretirement liability adjustments reclassified to Statements of Income, net of tax </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; border-bottom:0.5pt solid; "> 964 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; border-bottom:0.5pt solid; "> 964 </td> </tr> <tr class="odd" style=""> <td style="width:40%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:10pt; text-align:left; margin-top:0pt; padding-left:0pt; text-indent: -10pt !important; padding-left: 10pt !important; margin-bottom: 0pt;color:#000000; ">Net current period other comprehensive income </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; border-bottom:0.5pt solid; "> 45,980 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; border-bottom:0.5pt solid; "> 1,183 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; border-bottom:0.5pt solid; "> 1,125 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; border-bottom:0.5pt solid; "> 48,288 </td> </tr> <tr class="even" style=""> <td style="width:40%; vertical-align:bottom; "> December 31, 2017 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; border-bottom:3px double;"> (87,318) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; border-bottom:3px double;"> (50,536) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; border-bottom:3px double;"> 1,953 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; border-bottom:3px double;"> (135,901) </td> </tr> <tr class="odd" style=""> <td style="width:40%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td style="width:40%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:10pt; text-align:left; margin-top:0pt; padding-left:0pt; text-indent: -10pt !important; padding-left: 10pt !important; margin-bottom: 0pt;color:#000000; ">Other comprehensive income/(loss) before reclassifications </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> (28,658) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> 1,275 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> 2,853 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> (24,530) </td> </tr> <tr class="odd" style=""> <td style="width:40%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:10pt; text-align:left; margin-top:0pt; padding-left:0pt; text-indent: -10pt !important; padding-left: 10pt !important; margin-bottom: 0pt;color:#000000; ">Pension/postretirement settlements and curtailments </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> 1,146 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> 1,146 </td> </tr> <tr class="even" style=""> <td style="width:40%; vertical-align:bottom; "> Pension/postretirement plan remeasurement. </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> 443 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> 443 </td> </tr> <tr class="odd" style=""> <td style="width:40%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:10pt; text-align:left; margin-top:0pt; padding-left:0pt; text-indent: -10pt !important; padding-left: 10pt !important; margin-bottom: 0pt;color:#000000; ">Interest expense related to swaps reclassified to the Statements of Income, net of tax </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> (109) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> (109) </td> </tr> <tr class="even" style=""> <td style="width:40%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:10pt; text-align:left; margin-top:0pt; padding-left:0pt; text-indent: -10pt !important; padding-left: 10pt !important; margin-bottom: 0pt;color:#000000; ">Pension and postretirement liability adjustments reclassified to Statements of Income, net of tax </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; border-bottom:0.5pt solid; "> 563 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; border-bottom:0.5pt solid; "> 563 </td> </tr> <tr class="odd" style=""> <td style="width:40%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:10pt; text-align:left; margin-top:0pt; padding-left:0pt; text-indent: -10pt !important; padding-left: 10pt !important; margin-bottom: 0pt;color:#000000; ">Net current period other comprehensive income </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; border-bottom:0.5pt solid; "> (28,658) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; border-bottom:0.5pt solid; "> 3,427 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; border-bottom:0.5pt solid; "> 2,744 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; border-bottom:0.5pt solid; "> (22,487) </td> </tr> <tr class="even" style=""> <td style="width:40%; vertical-align:bottom; "> December 31, 2018 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; border-bottom:3px double;"> (115,976) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; border-bottom:3px double;"> (47,109) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; border-bottom:3px double;"> 4,697 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; border-bottom:3px double;"> (158,388) </td> </tr> <tr class="odd" style=""> <td style="width:40%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:10pt; text-align:left; margin-top:0pt; padding-left:0pt; text-indent: -10pt !important; padding-left: 10pt !important; margin-bottom: 0pt;color:#000000; ">Other comprehensive income/(loss) before reclassifications </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> (6,876) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> (525) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> (10,523) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> (17,924) </td> </tr> <tr class="even" style=""> <td style="width:40%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:10pt; text-align:left; margin-top:0pt; padding-left:0pt; text-indent: -10pt !important; padding-left: 10pt !important; margin-bottom: 0pt;color:#000000; ">Pension/postretirement settlements and curtailments </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> 376 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> 376 </td> </tr> <tr class="odd" style=""> <td style="width:40%; vertical-align:bottom; "> Pension/postretirement plan remeasurement. </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> (1,437) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> (1,437) </td> </tr> <tr class="even" style=""> <td style="width:40%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:10pt; text-align:left; margin-top:0pt; padding-left:0pt; text-indent: -10pt !important; padding-left: 10pt !important; margin-bottom: 0pt;color:#000000; ">Interest expense related to swaps reclassified to the Statements of Income, net of tax </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> 2,691 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> 2,691 </td> </tr> <tr class="odd" style=""> <td style="width:40%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:10pt; text-align:left; margin-top:0pt; padding-left:0pt; text-indent: -10pt !important; padding-left: 10pt !important; margin-bottom: 0pt;color:#000000; ">Pension and postretirement liability adjustments reclassified to Statements of Income, net of tax </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> 47 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; "> 47 </td> </tr> <tr class="even" style=""> <td style="width:40%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:10pt; text-align:left; margin-top:0pt; padding-left:0pt; text-indent: -10pt !important; padding-left: 10pt !important; margin-bottom: 0pt;color:#000000; ">Adjustment related to prior period change in opening valuation allowance </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; border-bottom:0.5pt solid; "> (1,346) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; border-bottom:0.5pt solid; "> (1,346) </td> </tr> <tr class="odd" style=""> <td style="width:40%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:10pt; text-align:left; margin-top:0pt; padding-left:0pt; text-indent: -10pt !important; padding-left: 10pt !important; margin-bottom: 0pt;color:#000000; ">Net current period other comprehensive income </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; border-bottom:0.5pt solid; "> (6,876) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; border-bottom:0.5pt solid; "> (2,885) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; border-bottom:0.5pt solid; "> (7,832) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; border-bottom:0.5pt solid; "> (17,593) </td> </tr> <tr class="even" style=""> <td style="width:40%; vertical-align:bottom; "> December 31, 2019 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; border-bottom:3px double;"> $(122,852) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; border-bottom:3px double;"> $(49,994) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; border-bottom:3px double;"> $(3,135) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:13%; vertical-align:bottom; border-bottom:3px double;"> $(175,981) </td> </tr> </tbody> </table> </div> <div> 81 <hr style="border-top:1.5pt solid #000000;"/> <div style="page-break-after: always;"/> <a href="#t001">Index</a> </div> ALBANY INTERNATIONAL CORP. Notes to Consolidated Financial Statements 9. Accumulated Other Comprehensive Income (AOCI) — (continued) The components of our Accumulated Other Comprehensive Income that are reclassified to the Statement of Income relate to our pension and postretirement plans and interest rate swaps. The table below presents the expense/(income) amounts reclassified, and the line items of the Statement of Income that were affected for the years ended December 31, 2019, 2018, and 2017.

-133298000

-51719000

828000

-184189000

45980000

-1818000

201000

44363000

2037000

-924000

964000

45980000

1183000

1125000

48288000

-87318000

-50536000

1953000

-135901000

-28658000

1275000

2853000

-24530000

1146000

443000

109000

563000

-28658000

3427000

2744000

-22487000

-115976000

-47109000

4697000

-158388000

-6876000

-525000

-10523000

-17924000

376000

-1437000

-2691000

47000

-1346000 -1346000

-6876000

-2885000

-7832000

-17593000

-122852000

-49994000

-3135000

-175981000

-1011000

-146000

1490000

259000

37000

-566000

752000

109000

-924000

-450000

-1494000

4420000

4454000

4453000

-4480000

-5175000

-5439000

-510000

-2215000

-986000

-87000

-506000

-22000

-423000

-1709000

-964000

0.90

0.10

28000000

The table below presents a reconciliation of income attributable to the noncontrolling interest and noncontrolling equity in the Company’s subsidiary Albany Safran Composites, LLC, and the impact of transitioning to ASC 606: <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="91.22807017543859%"> <thead> <tr class="odd" style=""> <td style="width:70%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> (in thousands, except percentages) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2019 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2018 </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:70%; vertical-align:bottom; "> Net income of Albany Safran Composites (ASC) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> $11,140 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> $2,578 </td> </tr> <tr class="even" style=""> <td style="width:70%; vertical-align:bottom; "> Less: Return attributable to the Company's preferred holding </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> 1,291 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> 1,299 </td> </tr> <tr class="odd" style=""> <td style="width:70%; vertical-align:bottom; "> Net income of ASC available for common ownership </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> $9,849 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> $1,279 </td> </tr> <tr class="even" style=""> <td style="width:70%; vertical-align:bottom; "> Ownership percentage of noncontrolling shareholder </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> 10% </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> 10% </td> </tr> <tr class="odd" style=""> <td style="width:70%; vertical-align:bottom; "> Net income attributable to noncontrolling interest </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> $985 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> $128 </td> </tr> <tr class="even" style=""> <td style="width:70%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> </td> </tr> <tr class="odd" style=""> <td style="width:70%; vertical-align:bottom; "> Noncontrolling interest, beginning of year </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> $3,031 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> $3,247 </td> </tr> <tr class="even" style=""> <td style="width:70%; vertical-align:bottom; "> Decrease attributable to 2018 adoption of ASC 606 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> — </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> (327) </td> </tr> <tr class="odd" style=""> <td style="width:70%; vertical-align:bottom; "> Net income/(loss) attributable to noncontrolling interest </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 985 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 128 </td> </tr> <tr class="even" style=""> <td style="width:70%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:10pt; text-align:left; margin-top:0pt; padding-left:0pt; text-indent: -10pt !important; padding-left: 10pt !important; margin-bottom: 0pt;color:#000000; ">Changes in other comprehensive income attributable to noncontrolling interest </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> (10) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> (17) </td> </tr> <tr class="odd" style=""> <td style="width:70%; vertical-align:bottom; "> Noncontrolling interest, end of year </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> $4,006 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> $3,031 </td> </tr> </tbody> </table> </div>

11140000

2578000

1291000

1299000

9849000

1279000

0.10

985000

128000

3031000

3247000

-327000

985000

128000

-10000

-17000

4006000

3031000

As of December 31, 2019 and 2018, Accounts receivable consisted of the following: <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="91.22807017543859%"> <thead> <tr class="odd" style=""> <td style="width:70%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> (in thousands) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> December 31, 2019 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> December 31, 2018 </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:70%; vertical-align:bottom; "> Trade and other accounts receivable </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> $201,427 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> $211,244 </td> </tr> <tr class="even" style=""> <td style="width:70%; vertical-align:bottom; "> Bank promissory notes </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 18,563 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 19,269 </td> </tr> <tr class="odd" style=""> <td style="width:70%; vertical-align:bottom; "> Allowance for doubtful accounts </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> (1,719) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> (7,337) </td> </tr> <tr class="even" style=""> <td style="width:70%; vertical-align:bottom; "> Accounts receivable, net </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:3px double;"> $218,271 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:3px double;"> $223,176 </td> </tr> </tbody> </table> </div>

201427000

211244000

18563000

19269000

1719000

7337000

218271000

223176000

The Noncurrent receivables will be invoiced to the customer over a 10-year period, beginning in 2020. Accordingly, $5.2 million was reclassified from Noncurrent receivables to Trade and other accounts receivable during 2019. As of December 31, 2019 and December 31, 2018, Noncurrent receivables were as follows: <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="91.22807017543859%"> <thead> <tr class="odd" style=""> <td style="width:70%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> (in thousands) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> December 31, 2019 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> December 31, 2018 </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:70%; vertical-align:bottom; "> Noncurrent receivables </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> $41,234 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> $45,061 </td> </tr> </tbody> </table> </div> over a 10-year

5200000

41234000

45061000

79070000

57447000

5656000

9025000

21600000

3400000

6000000.0

3200000

As of December 31, 2019 and 2018, inventories consisted of the following: <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="91.22807017543859%"> <thead> <tr class="odd" style=""> <td style="width:70%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> (in thousands) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> December 31, 2019 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> December 31, 2018 </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:70%; vertical-align:bottom; "> Raw materials </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> $52,960 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> $40,489 </td> </tr> <tr class="even" style=""> <td style="width:70%; vertical-align:bottom; "> Work in process </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 31,744 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 33,181 </td> </tr> <tr class="odd" style=""> <td style="width:70%; vertical-align:bottom; "> Finished goods </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> 10,445 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> 12,234 </td> </tr> <tr class="even" style=""> <td style="width:70%; vertical-align:bottom; "> Total inventories </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:3px double;"> $95,149 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:3px double;"> $85,904 </td> </tr> </tbody> </table> </div>

52960000

40489000

31744000

33181000

10445000

12234000

95149000

85904000

The table below sets forth the components of property, plant and equipment as of December 31, 2019 and 2018: <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="91.22807017543859%"> <thead> <tr class="odd" style=""> <td style="width:45%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> (in thousands) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:9%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2019 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2018 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:28%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Estimated useful life </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:45%; vertical-align:bottom; "> Land and land improvements </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> $14,168 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> $14,287 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:28%; vertical-align:bottom; "> 25 years for improvements </td> </tr> <tr class="even" style=""> <td style="width:45%; vertical-align:bottom; "> Buildings </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 227,875 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 245,805 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:28%; vertical-align:bottom; "> 15 to 40 years </td> </tr> <tr class="odd" style=""> <td style="width:45%; vertical-align:bottom; "> Right of use assets </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 16,686 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> — </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:28%; vertical-align:bottom; "> 10 to 15 years </td> </tr> <tr class="even" style=""> <td style="width:45%; vertical-align:bottom; "> Machinery and equipment </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 1,020,348 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 989,925 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:28%; vertical-align:bottom; "> 5 to 15 years </td> </tr> <tr class="odd" style=""> <td style="width:45%; vertical-align:bottom; "> Furniture and fixtures </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 8,126 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 8,091 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:28%; vertical-align:bottom; "> 5 years </td> </tr> <tr class="even" style=""> <td style="width:45%; vertical-align:bottom; "> Computer and other equipment </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 18,808 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 16,473 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:28%; vertical-align:bottom; "> 3 to 10 years </td> </tr> <tr class="odd" style=""> <td style="width:45%; vertical-align:bottom; "> Software </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 60,995 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 60,182 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:28%; vertical-align:bottom; "> 5 to 8 years </td> </tr> <tr class="even" style=""> <td style="width:45%; vertical-align:bottom; "> Capital expenditures in progress </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:0.5pt solid; "> 45,588 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:0.5pt solid; "> 46,749 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:28%; vertical-align:bottom; "> </td> </tr> <tr class="odd" style=""> <td style="width:45%; vertical-align:bottom; "> Property, plant and equipment, gross </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 1,412,594 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> 1,381,512 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:28%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td style="width:45%; vertical-align:bottom; "> Accumulated depreciation and amortization </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:0.5pt solid; "> (946,132) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:0.5pt solid; "> (919,457) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:28%; vertical-align:bottom; "> </td> </tr> <tr class="odd" style=""> <td style="width:45%; vertical-align:bottom; "> Property, plant and equipment, net </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:3px double;"> $466,462 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:3px double;"> $462,055 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:28%; vertical-align:bottom; "> </td> </tr> </tbody> </table> </div>

14168000

14287000

P25Y

227875000

245805000

P15Y

P40Y

16686000

P10Y

P15Y

1020348000

989925000

P5Y

P15Y

8126000

8091000

P5Y

18808000

16473000

P3Y

P10Y

60995000

60182000

P5Y

P8Y

45588000

46749000

1412594000

1381512000

946132000

919457000

466462000

462055000

2400000

3200000

3600000

5300000

6900000

7600000

19800000

19400000

19100000

10600000

2029-12-31

12700000

10000000.0

17300000

We are continuing to amortize certain patents, trademarks and names, customer contracts, relationships and technology assets that have finite lives. The changes in intangible assets and goodwill from December 31, 2017 to December 31, 2019, were as follows: <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="100%"> <thead> <tr class="odd" style=""> <td style="width:36%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> (in thousands, except for years) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Amortization life in years </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Balance at December 31, 2018 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:8%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Aquisition </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Amortization </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Currency Translation </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Balance at December 31, 2019 </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:36%; vertical-align:bottom; "> Amortized intangible assets: </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:8%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td style="width:36%; vertical-align:bottom; "> AEC trademarks and trade names </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 6-15 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $11 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:8%; vertical-align:bottom; "> $68 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $(6) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $— </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $73 </td> </tr> <tr class="odd" style=""> <td style="width:36%; vertical-align:bottom; "> AEC technology </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 10-15 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 56 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:8%; vertical-align:bottom; "> 5,821 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> (73) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 5,804 </td> </tr> <tr class="even" style=""> <td style="width:36%; vertical-align:bottom; "> AEC Intellectual property </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 15 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:8%; vertical-align:bottom; "> 1,250 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> (7) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 1,243 </td> </tr> <tr class="odd" style=""> <td style="width:36%; vertical-align:bottom; "> AEC customer contracts </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 6 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 9,456 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:8%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> (2,912) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 6,544 </td> </tr> <tr class="even" style=""> <td style="width:36%; vertical-align:bottom; "> AEC customer relationships </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 8-15 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 39,538 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:8%; vertical-align:bottom; "> 2,834 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> (3,247) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 22 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 39,147 </td> </tr> <tr class="odd" style=""> <td style="width:36%; vertical-align:bottom; "> AEC other intangibles </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 5 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 145 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:8%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> (64) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 81 </td> </tr> <tr class="even" style=""> <td style="width:36%; vertical-align:bottom; "> Total amortized intangible assets </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> $49,206 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:8%; vertical-align:bottom; border-bottom:3px double;"> $9,973 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> $(6,309) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> $22 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> $52,892 </td> </tr> <tr class="odd" style=""> <td style="width:36%; vertical-align:bottom; "> Unamortized intangible assets: </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:8%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td style="width:36%; vertical-align:bottom; "> MC Goodwill </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $68,652 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:8%; vertical-align:bottom; "> $— </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $— </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $(980) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $67,672 </td> </tr> <tr class="odd" style=""> <td style="width:36%; vertical-align:bottom; "> AEC Goodwill </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 95,730 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:8%; vertical-align:bottom; border-bottom:0.5pt solid; "> 17,343 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 189 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 113,262 </td> </tr> <tr class="even" style=""> <td style="width:36%; vertical-align:bottom; "> Total amortized intangible assets </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> $164,382 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:8%; vertical-align:bottom; border-bottom:3px double;"> $17,343 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> $— </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> $(791) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> $180,934 </td> </tr> </tbody> </table> </div> <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="100%"> <thead> <tr class="odd" style=""> <td style="width:40%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> (in thousands, except for years) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Amortization life in years </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Balance at December 31, 2017 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:9%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Amortization </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Currency Translation </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Balance at December 31, 2018 </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:40%; vertical-align:bottom; "> Amortized intangible assets: </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td style="width:40%; vertical-align:bottom; "> AEC trademarks and trade names </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 15 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $15 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> $(4) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $— </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $11 </td> </tr> <tr class="odd" style=""> <td style="width:40%; vertical-align:bottom; "> AEC technology </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 15 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 80 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> (24) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 56 </td> </tr> <tr class="even" style=""> <td style="width:40%; vertical-align:bottom; "> AEC customer contracts </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 6 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 12,369 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> (2,913) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 9,456 </td> </tr> <tr class="odd" style=""> <td style="width:40%; vertical-align:bottom; "> AEC customer relationships </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 15 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 42,767 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> (3,229) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 39,538 </td> </tr> <tr class="even" style=""> <td style="width:40%; vertical-align:bottom; "> AEC other intangibles </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 5 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 210 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:0.5pt solid; "> (65) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 145 </td> </tr> <tr class="odd" style=""> <td style="width:40%; vertical-align:bottom; "> Total amortized intangible assets </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> $55,441 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:3px double;"> $(6,235) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> $— </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> $49,206 </td> </tr> <tr class="even" style=""> <td style="width:40%; vertical-align:bottom; "> Unamortized intangible assets: </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> </tr> <tr class="odd" style=""> <td style="width:40%; vertical-align:bottom; "> MC Goodwill </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $71,066 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; "> $— </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $(2,414) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $68,652 </td> </tr> <tr class="even" style=""> <td style="width:40%; vertical-align:bottom; "> AEC Goodwill </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 95,730 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 95,730 </td> </tr> <tr class="odd" style=""> <td style="width:40%; vertical-align:bottom; "> Total amortized intangible assets </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> $166,796 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:9%; vertical-align:bottom; border-bottom:3px double;"> $— </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> $(2,414) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:3px double;"> $164,382 </td> </tr> </tbody> </table> </div> As of December 31, 2019, the gross carrying amount and accumulated amortization of amortized intangible assets was $76.7 million and $23.8 million, respectively.

P6Y

P15Y

11000

68000

6000

73000

P10Y

P15Y

56000

5821000

73000

5804000

P15Y

1250000

7000

1243000

P6Y

9456000

2912000

6544000

P8Y

P15Y

39538000

2834000

3247000

22000

39147000

P5Y

145000

64000

81000

49206000

9973000

6309000

22000

52892000

68652000

-980000

67672000

95730000

17343000

189000

113262000

164382000

17343000

-791000

180934000

P15Y

15000

4000

11000

P15Y

80000

24000

56000

P6Y

12369000

2913000

9456000

P15Y

42767000

3229000

39538000

P5Y

210000

65000

145000

55441000

6235000

49206000

71066000

-2414000

68652000

95730000

166796000

-2414000

164382000

76700000

23800000

Amortization expense related to intangible assets was reported in the Consolidated Statement of Income as follows: $3.0 million in Cost of goods sold and $3.3 million in Selling, general and administrative expenses in 2019; $2.9 million in Cost of goods sold and $3.3 million in Selling, general and administrative expenses in 2018; and $3.3 million in Cost of goods sold and $3.6 million in Selling, general and administrative expenses in 2017. Estimated amortization expense of intangibles for the years ending December 31, 2020 through 2024, is as follows: <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="91.22807017543859%"> <thead> <tr class="odd" style=""> <td style="width:78%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:20%; vertical-align:bottom; "> Annual amortization </td> </tr> <tr class="even" style=""> <td style="width:78%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Year </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:20%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> (in thousands) </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:78%; vertical-align:bottom; "> 2020 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:20%; vertical-align:bottom; "> $7,141 </td> </tr> <tr class="even" style=""> <td style="width:78%; vertical-align:bottom; "> 2021 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:20%; vertical-align:bottom; "> 7,071 </td> </tr> <tr class="odd" style=""> <td style="width:78%; vertical-align:bottom; "> 2022 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:20%; vertical-align:bottom; "> 4,856 </td> </tr> <tr class="even" style=""> <td style="width:78%; vertical-align:bottom; "> 2023 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:20%; vertical-align:bottom; "> 4,135 </td> </tr> <tr class="odd" style=""> <td style="width:78%; vertical-align:bottom; "> 2024 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:20%; vertical-align:bottom; "> 4,135 </td> </tr> </tbody> </table> </div> 16. Accrued Liabilities

3000000.0

3300000

2900000

3300000

3600000

7141000

7071000

4856000

4135000

16. Accrued Liabilities

Accrued liabilities consist of: <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="91.22807017543859%"> <thead> <tr class="odd" style=""> <td style="width:70%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> (in thousands) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2019 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2018 </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:70%; vertical-align:bottom; "> Salaries and wages </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> $22,878 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> $20,821 </td> </tr> <tr class="even" style=""> <td style="width:70%; vertical-align:bottom; "> Contract loss reserve </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 17,190 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 20,708 </td> </tr> <tr class="odd" style=""> <td style="width:70%; vertical-align:bottom; "> Employee benefits </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 14,235 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 12,316 </td> </tr> <tr class="even" style=""> <td style="width:70%; vertical-align:bottom; "> Returns and allowances </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 11,249 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 11,343 </td> </tr> <tr class="odd" style=""> <td style="width:70%; vertical-align:bottom; "> Accrual for compensated absences </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 10,445 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 10,636 </td> </tr> <tr class="even" style=""> <td style="width:70%; vertical-align:bottom; "> Dividends </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 6,139 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 5,808 </td> </tr> <tr class="odd" style=""> <td style="width:70%; vertical-align:bottom; "> Contract liabilities </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 5,656 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 9,025 </td> </tr> <tr class="even" style=""> <td style="width:70%; vertical-align:bottom; "> Lease liability - Operating lease </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 4,023 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> — </td> </tr> <tr class="odd" style=""> <td style="width:70%; vertical-align:bottom; "> Lease liability - Financing lease </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 1,835 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> — </td> </tr> <tr class="even" style=""> <td style="width:70%; vertical-align:bottom; "> Postretirement medical benefits – current portion </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 3,808 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 3,890 </td> </tr> <tr class="odd" style=""> <td style="width:70%; vertical-align:bottom; "> Restructuring costs </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 1,342 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 5,534 </td> </tr> <tr class="even" style=""> <td style="width:70%; vertical-align:bottom; "> Professional fees </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 2,999 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 2,575 </td> </tr> <tr class="odd" style=""> <td style="width:70%; vertical-align:bottom; "> Pension liability – current portion </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 2,155 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 2,124 </td> </tr> <tr class="even" style=""> <td style="width:70%; vertical-align:bottom; "> Workers' compensation </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 1,982 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 1,794 </td> </tr> <tr class="odd" style=""> <td style="width:70%; vertical-align:bottom; "> Utilities </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 790 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 974 </td> </tr> <tr class="even" style=""> <td style="width:70%; vertical-align:bottom; "> Interest </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 517 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 901 </td> </tr> <tr class="odd" style=""> <td style="width:70%; vertical-align:bottom; "> Other </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> 18,642 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> 20,581 </td> </tr> <tr class="even" style=""> <td style="width:70%; vertical-align:bottom; "> Total </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:3px double;"> $125,885 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:3px double;"> $129,030 </td> </tr> </tbody> </table> </div>

22878000

20821000

17190000 20708000

14235000

12316000

11249000

11343000

10445000

10636000

6139000

5808000

5656000

9025000

4023000

1835000

3808000

3890000

1342000

5534000

2999000

2575000

2155000

2124000

1982000

1794000

790000

974000

517000

901000

18642000

20581000

125885000

129030000

50000000.0

Long-term debt, principally to banks and noteholders, consists of: <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="91.22807017543859%"> <thead> <tr class="odd" style=""> <td style="width:71%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> (in thousands, except interest rates) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:11%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2019 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:11%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2018 </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:71%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:10pt; text-align:left; margin-top:0pt; padding-left:0pt; text-indent: -10pt !important; padding-left: 10pt !important; margin-bottom: 0pt;color:#000000; ">Revolving credit agreement with borrowings outstanding at an end of period interest rate of 3.43% in 2019 and 3.69% in 2018 (including the effect of interest rate hedging transactions, as described below), due in 2022 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> $424,000 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> $499,000 </td> </tr> <tr class="even" style=""> <td style="width:71%; vertical-align:bottom; "> Finance obligation </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> — </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 25,886 </td> </tr> <tr class="odd" style=""> <td style="width:71%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:10pt; text-align:left; margin-top:0pt; padding-left:0pt; text-indent: -10pt !important; padding-left: 10pt !important; margin-bottom: 0pt;color:#000000; ">Other debt, at an average end of period rate of 5.50% in both 2019 and 2018, due in varying amounts through 2021 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; border-bottom:0.5pt solid; "> 29 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; border-bottom:0.5pt solid; "> 45 </td> </tr> <tr class="even" style=""> <td style="width:71%; vertical-align:bottom; "> Long-term debt </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 424,029 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 524,931 </td> </tr> <tr class="odd" style=""> <td style="width:71%; vertical-align:bottom; "> Less: current portion </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; border-bottom:0.5pt solid; "> (20) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; border-bottom:0.5pt solid; "> (1,224) </td> </tr> <tr class="even" style=""> <td style="width:71%; vertical-align:bottom; "> Long-term debt, net of current portion </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; border-bottom:3px double;"> $424,009 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; border-bottom:3px double;"> $523,707 </td> </tr> </tbody> </table> </div>

0.0343

0.0369

424000000

499000000

25886000

0.0550

29000

45000

424029000

524931000

20000

1224000

424009000

523707000

424000000

17400000

18800000

16000000.0

685000000

550000000

424000000

0.01375

0.01250

0.01750

261000000

25900000

300000000

6300000

120000000

5200000

350000000

0.0211

0.0174

350000000

0.03485

3.50 1.35 14.21

The following table presents the fair-value hierarchy for our Level 1 and Level 2 financial and non-financial assets and liabilities, which are measured at fair value on a recurring basis: <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="100%"> <thead> <tr class="odd" style=""> <td style="width:38%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td colspan="3" style="width:30%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> December 31, 2019 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td colspan="3" style="width:30%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> December 31, 2018 </td> </tr> <tr class="even" style=""> <td style="width:38%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:14%; vertical-align:bottom; "> Quoted prices in active markets </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> Significant other observable inputs </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:14%; vertical-align:bottom; "> Quoted prices in active markets </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> Significant other observable inputs </td> </tr> <tr class="odd" style=""> <td style="width:38%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> (in thousands) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:14%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> (Level 1) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> (Level 2) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:14%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> (Level 1) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> (Level 2) </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:38%; vertical-align:bottom; "> Fair Value </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:14%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:14%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td style="width:38%; vertical-align:bottom; "> Assets: </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:14%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:14%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> </tr> <tr class="odd" style=""> <td style="width:38%; vertical-align:bottom; "> Cash equivalents </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:14%; vertical-align:bottom; "> $16,375 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> $— </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:14%; vertical-align:bottom; "> $14,234 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> $— </td> </tr> <tr class="even" style=""> <td style="width:38%; vertical-align:bottom; "> Other Assets: </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:14%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:14%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> </tr> <tr class="odd" style=""> <td style="width:38%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:10pt; text-align:left; margin-top:0pt; padding-left:20pt; text-indent: -10pt !important; padding-left: 30pt !important; margin-bottom: 0pt;color:#000000; ">Common stock of unaffiliated foreign public company (a) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:14%; vertical-align:bottom; "> 839 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:14%; vertical-align:bottom; "> 731 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> — </td> </tr> <tr class="even" style=""> <td style="width:38%; vertical-align:bottom; "> Interest rate swaps </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:14%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:14%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 4,548(c) </td> </tr> <tr class="odd" style=""> <td style="width:38%; vertical-align:bottom; "> Liabilities: </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:14%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:14%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td style="width:38%; vertical-align:bottom; "> Other noncurrent liabilities: </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:14%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:14%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> </tr> <tr class="odd" style=""> <td style="width:38%; vertical-align:bottom; "> Interest rate swaps </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:14%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> (5,518)(b) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:14%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> — </td> </tr> </tbody> </table> </div> <div> <table cellpadding="0" style="border-collapse: collapse;" width="100%"> <tbody> <tr class="odd" style=""> <td colspan="2" style="width:100%; vertical-align:top; "> <hr style="border-top:0.5pt solid #000000; width:13%; margin-left: 0pt;text-align:left;"/> </td> </tr> <tr class="even" style=""> <td style="width:6%; vertical-align:top; "> (a) </td> <td style="width:92%; vertical-align:top; "> Original cost basis $0.5 million. </td> </tr> <tr class="odd" style=""> <td style="width:6%; vertical-align:top; "> (b) </td> <td style="width:92%; vertical-align:top; "> Net of $15.2 million receivable floating leg and $20.7 million liability fixed leg. </td> </tr> <tr class="even" style=""> <td style="width:6%; vertical-align:top; "> (c) </td> <td style="width:92%; vertical-align:top; "> Net of $32.0 million receivable floating leg and $27.5 million liability fixed leg. </td> </tr> </tbody> </table> </div>

16375000

14234000

839000

731000

4548000

5518000

500000

15200000

20700000

32000000.0

27500000

600000

500000

800000

500000

600000

700000

1300000

Gains/(losses) related to changes in fair value of derivative instruments not designated as a hedge that were recognized in Other (income)/expense, net in the Consolidated Statements of Income were as follows: <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="91.22807017543859%"> <thead> <tr class="odd" style=""> <td style="width:55%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td colspan="5" style="width:42%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Years ended December 31, </td> </tr> <tr class="even" style=""> <td style="width:55%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> (in thousands) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2019 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2018 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2017 </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:55%; vertical-align:bottom; "> Derivatives not designated as hedging instruments </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td style="width:55%; vertical-align:bottom; "> Foreign currency options gains/(losses) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> $— </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> $(61) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> $(131) </td> </tr> </tbody> </table> </div>

-61000

-131000

As of December 31, 2019 and 2018, Other Noncurrent Liabilities consisted of the following: <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="91.22807017543859%"> <thead> <tr class="odd" style=""> <td style="width:70%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> (in thousands) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2019 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2018 </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:70%; vertical-align:bottom; "> Postretirement benefits other than pensions </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> $50,576 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> $47,237 </td> </tr> <tr class="even" style=""> <td style="width:70%; vertical-align:bottom; "> Pension liabilities </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 34,638 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 34,590 </td> </tr> <tr class="odd" style=""> <td style="width:70%; vertical-align:bottom; "> Finance leases </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 22,700 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> — </td> </tr> <tr class="even" style=""> <td style="width:70%; vertical-align:bottom; "> Operating leases </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 14,386 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> — </td> </tr> <tr class="odd" style=""> <td style="width:70%; vertical-align:bottom; "> Interest rate swap agreements </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 5,518 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> — </td> </tr> <tr class="even" style=""> <td style="width:70%; vertical-align:bottom; "> Incentive and deferred compensation </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 2,925 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 3,810 </td> </tr> <tr class="odd" style=""> <td style="width:70%; vertical-align:bottom; "> Other </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 1,282 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 2,540 </td> </tr> <tr class="even" style=""> <td style="width:70%; vertical-align:bottom; "> Restructuring </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> 700 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> 100 </td> </tr> <tr class="odd" style=""> <td style="width:70%; vertical-align:bottom; "> Total </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:3px double;"> $132,725 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:3px double;"> $88,277 </td> </tr> </tbody> </table> </div> The increase in Other Noncurrent liabilities in 2019 was in part due to the cumulative effect of adopting ASC 842 (see Note 20) which upon adoption, increased Other Noncurrent liabilities by $28.0 million. For the year ended December 31, 2019 lease liabilities included in Other noncurrent liabilities are comprised of Finance and Operating leases, and account for an increase over December 31, 2018 of $37.1 million.

50576000

47237000

34638000

34590000

22700000

14386000

5518000

2925000

3810000

1282000

2540000

700000

100000

132725000

88277000

300000

The table below presents the cumulative effect of changes made to our December 31, 2018 Balance Sheet as a result of the adoption of ASC 842, Leases: <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="100%"> <thead> <tr class="odd" style=""> <td style="width:52%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> As previously reported at December 31, 2018 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Adjustments Increase/ (decrease) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Opening balance, as adjusted, January 1, 2019 </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:52%; vertical-align:bottom; "> ASSETS </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td style="width:52%; vertical-align:bottom; "> Cash and cash equivalents </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> $197,755 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> $— </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> $197,755 </td> </tr> <tr class="odd" style=""> <td style="width:52%; vertical-align:bottom; "> Accounts receivable, net </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 223,176 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 223,176 </td> </tr> <tr class="even" style=""> <td style="width:52%; vertical-align:bottom; "> Contract assets </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 57,447 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 57,447 </td> </tr> <tr class="odd" style=""> <td style="width:52%; vertical-align:bottom; "> Inventories </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 85,904 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 85,904 </td> </tr> <tr class="even" style=""> <td style="width:52%; vertical-align:bottom; "> Income taxes prepaid and receivable </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 7,473 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 7,473 </td> </tr> <tr class="odd" style=""> <td style="width:52%; vertical-align:bottom; "> Prepaid expenses and other current assets </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; border-bottom:0.5pt solid; "> 21,294 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; border-bottom:0.5pt solid; "> (370) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; border-bottom:0.5pt solid; "> 20,924 </td> </tr> <tr class="even" style=""> <td style="width:52%; vertical-align:bottom; "> Total current assets </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> $593,049 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> $(370) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> $592,679 </td> </tr> <tr class="odd" style=""> <td style="width:52%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td style="width:52%; vertical-align:bottom; "> Property, plant and equipment, net </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 462,055 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> (6,144) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 455,911 </td> </tr> <tr class="odd" style=""> <td style="width:52%; vertical-align:bottom; "> Intangibles, net </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 49,206 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 49,206 </td> </tr> <tr class="even" style=""> <td style="width:52%; vertical-align:bottom; "> Goodwill </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 164,382 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 164,382 </td> </tr> <tr class="odd" style=""> <td style="width:52%; vertical-align:bottom; "> Deferred income taxes </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 62,622 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> (20) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 62,602 </td> </tr> <tr class="even" style=""> <td style="width:52%; vertical-align:bottom; "> Noncurrent receivables </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 45,061 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 45,061 </td> </tr> <tr class="odd" style=""> <td style="width:52%; vertical-align:bottom; "> Other assets </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; border-bottom:0.5pt solid; "> 41,617 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; border-bottom:0.5pt solid; "> 13,615 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; border-bottom:0.5pt solid; "> 55,232 </td> </tr> <tr class="even" style=""> <td style="width:52%; vertical-align:bottom; "> Total assets </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; border-bottom:3px double;"> $1,417,992 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; border-bottom:3px double;"> $7,081 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; border-bottom:3px double;"> $1,425,073 </td> </tr> <tr class="odd" style=""> <td style="width:52%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td style="width:52%; vertical-align:bottom; "> LIABILITIES AND SHAREHOLDERS' EQUITY </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> </tr> <tr class="odd" style=""> <td style="width:52%; vertical-align:bottom; "> Notes and loans payable </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> $— </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> $— </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> $— </td> </tr> <tr class="even" style=""> <td style="width:52%; vertical-align:bottom; "> Accounts payable </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 52,246 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 52,246 </td> </tr> <tr class="odd" style=""> <td style="width:52%; vertical-align:bottom; "> Accrued liabilities </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 129,030 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 4,964 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 133,994 </td> </tr> <tr class="even" style=""> <td style="width:52%; vertical-align:bottom; "> Current maturities of long-term debt </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 1,224 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> (1,206) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 18 </td> </tr> <tr class="odd" style=""> <td style="width:52%; vertical-align:bottom; "> Income taxes payable </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; border-bottom:0.5pt solid; "> 6,806 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; border-bottom:0.5pt solid; "> 6,806 </td> </tr> <tr class="even" style=""> <td style="width:52%; vertical-align:bottom; "> Total current liabilities </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 189,306 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 3,758 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 193,064 </td> </tr> <tr class="odd" style=""> <td style="width:52%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td style="width:52%; vertical-align:bottom; "> Long-term debt </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 523,707 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> (24,680) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 499,027 </td> </tr> <tr class="odd" style=""> <td style="width:52%; vertical-align:bottom; "> Other noncurrent liabilities </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 88,277 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 27,968 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 116,245 </td> </tr> <tr class="even" style=""> <td style="width:52%; vertical-align:bottom; "> Deferred taxes and other liabilities </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; border-bottom:0.5pt solid; "> 8,422 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; border-bottom:0.5pt solid; "> 8,422 </td> </tr> <tr class="odd" style=""> <td style="width:52%; vertical-align:bottom; "> Total liabilities </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; border-bottom:0.5pt solid; "> 809,712 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; border-bottom:0.5pt solid; "> 7,046 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; border-bottom:0.5pt solid; "> 816,758 </td> </tr> <tr class="even" style=""> <td style="width:52%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> </tr> <tr class="odd" style=""> <td style="width:52%; vertical-align:bottom; "> SHAREHOLDERS' EQUITY </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td style="width:52%; vertical-align:bottom; "> Preferred stock, par value $5.00 per share; </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> </tr> <tr class="odd" style=""> <td style="width:52%; vertical-align:bottom; "> authorized 2,000,000 shares; none issued </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> — </td> </tr> <tr class="even" style=""> <td style="width:52%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:8pt; text-align:left; margin-top:0pt; padding-left:20pt; text-indent: -10pt !important; padding-left: 30pt !important; margin-bottom: 0pt;color:#000000; ">Class A Common Stock, par value $.001 per share; authorized 100,000,000 shares; issued 37,450,329 in 2018 and 37,395,753 in 2017 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 37 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 37 </td> </tr> <tr class="odd" style=""> <td style="width:52%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:8pt; text-align:left; margin-top:0pt; padding-left:20pt; text-indent: -10pt !important; padding-left: 30pt !important; margin-bottom: 0pt;color:#000000; ">Class B Common Stock, par value $.001 per share; authorized 25,000,000 shares; issued and outstanding 3,233,998 in 2018 and 2017 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 3 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 3 </td> </tr> <tr class="even" style=""> <td style="width:52%; vertical-align:bottom; "> Additional paid in capital </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 430,555 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 430,555 </td> </tr> <tr class="odd" style=""> <td style="width:52%; vertical-align:bottom; "> Retained earnings </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 589,645 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 35 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 589,680 </td> </tr> <tr class="even" style=""> <td style="width:52%; vertical-align:bottom; "> Accumulated items of other comprehensive income: </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> </tr> <tr class="odd" style=""> <td style="width:52%; vertical-align:bottom; "> Translation adjustments </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> (115,976) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> (115,976) </td> </tr> <tr class="even" style=""> <td style="width:52%; vertical-align:bottom; "> Pension and postretirement liability adjustments </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> (47,109) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> (47,109) </td> </tr> <tr class="odd" style=""> <td style="width:52%; vertical-align:bottom; "> Derivative valuation adjustment </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 4,697 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 4,697 </td> </tr> <tr class="even" style=""> <td style="width:52%; vertical-align:bottom; "> Treasury stock (Class A), at cost 8,418,620 shares in 2018 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> </tr> <tr class="odd" style=""> <td style="width:52%; vertical-align:bottom; "> and 8,431,335 shares in 2017 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; border-bottom:0.5pt solid; "> (256,603) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; border-bottom:0.5pt solid; "> (256,603) </td> </tr> <tr class="even" style=""> <td style="width:52%; vertical-align:bottom; "> Total Company shareholders' equity </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 605,249 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 35 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 605,284 </td> </tr> <tr class="odd" style=""> <td style="width:52%; vertical-align:bottom; "> Noncontrolling interest </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; border-bottom:0.5pt solid; "> 3,031 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; border-bottom:0.5pt solid; "> 3,031 </td> </tr> <tr class="even" style=""> <td style="width:52%; vertical-align:bottom; "> Total equity </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; border-bottom:0.5pt solid; "> 608,280 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; border-bottom:0.5pt solid; "> 35 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; border-bottom:0.5pt solid; "> 608,315 </td> </tr> <tr class="odd" style=""> <td style="width:52%; vertical-align:bottom; "> Total liabilities and shareholders' equity </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; border-bottom:3px double;"> $1,417,992 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; border-bottom:3px double;"> $7,081 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; border-bottom:3px double;"> $1,425,073 </td></tr></tbody> </table></div>

197755000

223176000

57447000

85904000

7473000

21294000

-370000

20924000

593049000

-370000

592679000

462055000

-6144000

455911000

49206000

164382000

62622000

-20000

62602000

45061000

41617000

13615000

55232000

1417992000

7081000

1425073000

52246000

129030000

4964000

133994000

1224000

-1206000

18000

6806000

189306000

3758000

193064000

523707000

-24680000

499027000

88277000

27968000

116245000

8422000

809712000

7046000

816758000

5.00

2000000

0.001

100000000

37450329

37395753

37000

0.001

25000000

3233998

3000

430555000

589645000

35000

589680000

-115976000

47109000

4697000

8418620

8431335

256603000

605249000

35000

605284000

3031000

608280000

35000

608315000

1417992000

7081000

1425073000

P1Y P15Y

P10Y

P1Y

The components of lease expense were as follows: <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="91.22807017543859%"> <thead> <tr class="odd" style=""> <td style="width:83%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> (in thousands) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:15%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> For the year ended December 31, 2019 </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:83%; vertical-align:bottom; "> Finance lease </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td style="width:83%; vertical-align:bottom; "> Amortization of right-of-use asset </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> $997 </td> </tr> <tr class="odd" style=""> <td style="width:83%; vertical-align:bottom; "> Interest on lease liabilities </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 1,563 </td> </tr> <tr class="even" style=""> <td style="width:83%; vertical-align:bottom; "> Operating lease </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> </tr> <tr class="odd" style=""> <td style="width:83%; vertical-align:bottom; "> Fixed lease cost </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 5,063 </td> </tr> <tr class="even" style=""> <td style="width:83%; vertical-align:bottom; "> Variable lease cost </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 35 </td> </tr> <tr class="odd" style=""> <td style="width:83%; vertical-align:bottom; "> Short-term lease cost </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; border-bottom:0.5pt solid; "> 1,283 </td> </tr> <tr class="even" style=""> <td style="width:83%; vertical-align:bottom; "> Total lease expense </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; border-bottom:3px double;"> $ 8,941 </td> </tr> </tbody> </table> </div>

997000

1563000

5063000

35000

1283000

8941000

8400000

9700000

Supplemental cash flow information related to leases was as follows: <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="91.22807017543859%"> <thead> <tr class="odd" style=""> <td style="width:83%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> (in thousands) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:15%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> For the year ended December 31, 2019 </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:83%; vertical-align:bottom; "> Cash paid for amounts included in the measurement of lease liabilities: </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td style="width:83%; vertical-align:bottom; "> Operating cash flows from operating leases </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> $ 4,932 </td> </tr> <tr class="odd" style=""> <td style="width:83%; vertical-align:bottom; "> Operating cash flows from finance leases </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 1,563 </td> </tr> <tr class="even" style=""> <td style="width:83%; vertical-align:bottom; "> Financing cash flows from finance leases </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 1,180 </td> </tr> <tr class="odd" style=""> <td style="width:83%; vertical-align:bottom; "> Right-of-use assets obtained in exchange for lease obligations: </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td style="width:83%; vertical-align:bottom; "> Operating leases </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> $ 9,250 </td> </tr> <tr class="odd" style=""> <td style="width:83%; vertical-align:bottom; "> Finance leases </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 5,686 </td> </tr> </tbody> </table> </div> The initial recognition of each ROU asset and lease liability at lease commencement is a noncash transaction that is excluded from amounts reported in the Consolidated Statements of Cash Flows. Supplemental balance sheet information related to leases was as follows: <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="91.22807017543859%"> <thead> <tr class="odd" style=""> <td style="width:83%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> (in thousands) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:15%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> December 31, 2019 </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:83%; vertical-align:bottom; "> Operating leases </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td style="width:83%; vertical-align:bottom; "> Right of use assets included in Other assets </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; border-bottom:0.5pt solid; "> $18,223 </td> </tr> <tr class="odd" style=""> <td style="width:83%; vertical-align:bottom; "> Lease liabilities included in </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td style="width:83%; vertical-align:bottom; "> Accrued liabilities </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> $4,023 </td> </tr> <tr class="odd" style=""> <td style="width:83%; vertical-align:bottom; "> Other noncurrent liabilities </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; border-bottom:0.5pt solid; "> 14,386 </td> </tr> <tr class="even" style=""> <td style="width:83%; vertical-align:bottom; "> Total operating lease liabilities </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; border-bottom:3px double;"> $ 18,409 </td> </tr> <tr class="odd" style=""> <td style="width:83%; vertical-align:bottom; "> Finance leases </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td style="width:83%; vertical-align:bottom; "> Right-of-use assets included in Property, plant and equipment, net </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; border-bottom:0.5pt solid; "> $ 15,689 </td> </tr> <tr class="odd" style=""> <td style="width:83%; vertical-align:bottom; "> Lease liabilities included in </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td style="width:83%; vertical-align:bottom; "> Accrued liabilities </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> $1,835 </td> </tr> <tr class="odd" style=""> <td style="width:83%; vertical-align:bottom; "> Other noncurrent liabilities </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; border-bottom:0.5pt solid; "> 22,700 </td> </tr> <tr class="even" style=""> <td style="width:83%; vertical-align:bottom; "> Total finance lease liabilities </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; border-bottom:3px double;"> $24,535 </td> </tr> </tbody> </table> </div> Additional information for leases existing at December 31, 2019 was as follows: <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="91.22807017543859%"> <tbody> <tr class="odd" style=""> <td style="width:83%; vertical-align:bottom; "> Weighted average remaining lease term </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td style="width:83%; vertical-align:bottom; "> Operating leases </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 6 years </td> </tr> <tr class="odd" style=""> <td style="width:83%; vertical-align:bottom; "> Finance leases </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; border-bottom:0.5pt solid; "> 10 years </td> </tr> <tr class="even" style=""> <td style="width:83%; vertical-align:bottom; "> Weighted average discount rate </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> </tr> <tr class="odd" style=""> <td style="width:83%; vertical-align:bottom; "> Operating leases </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 4.9% </td> </tr> <tr class="even" style=""> <td style="width:83%; vertical-align:bottom; "> Finance leases </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; border-bottom:3px double;"> 6.7% </td> </tr> </tbody> </table> </div>

4932000

1563000

1180000

9250000

5686000

The initial recognition of each ROU asset and lease liability at lease commencement is a noncash transaction that is excluded from amounts reported in the Consolidated Statements of Cash Flows.

18223000

4023000

14386000

18409000

15689000

1835000

22700000

24535000

Additional information for leases existing at December 31, 2019 was as follows:

P6Y

P10Y

0.049

0.067

Maturities of lease liabilities as of December 31, 2019 were as follows: <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="91.22807017543859%"> <thead> <tr class="odd" style=""> <td style="width:64%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> (in thousands) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:15%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Operating leases </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:15%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Finance leases </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:64%; vertical-align:bottom; "> Year ending December 31, </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td style="width:64%; vertical-align:bottom; "> 2020 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> $5,153 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> $3,347 </td> </tr> <tr class="odd" style=""> <td style="width:64%; vertical-align:bottom; "> 2021 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 4,133 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 3,347 </td> </tr> <tr class="even" style=""> <td style="width:64%; vertical-align:bottom; "> 2022 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 3,096 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 3,394 </td> </tr> <tr class="odd" style=""> <td style="width:64%; vertical-align:bottom; "> 2023 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 2,128 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 3,560 </td> </tr> <tr class="even" style=""> <td style="width:64%; vertical-align:bottom; "> 2024 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 1,496 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 3,560 </td> </tr> <tr class="odd" style=""> <td style="width:64%; vertical-align:bottom; "> Thereafter </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; border-bottom:0.5pt solid; "> 5,332 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; border-bottom:0.5pt solid; "> 15,692 </td> </tr> <tr class="even" style=""> <td style="width:64%; vertical-align:bottom; "> Total lease payments </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 21,338 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 32,900 </td> </tr> <tr class="odd" style=""> <td style="width:64%; vertical-align:bottom; "> Less imputed interest </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; border-bottom:0.5pt solid; "> (2,929) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; border-bottom:0.5pt solid; "> (8,365) </td> </tr> <tr class="even" style=""> <td style="width:64%; vertical-align:bottom; "> Total </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; border-bottom:3px double;"> $ 18,409 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; border-bottom:3px double;"> $ 24,535 </td> </tr> </tbody> </table> </div> As of December 31, 2018, future rental payments required under operating leases with initial or remaining non-cancelable lease terms in excess of one year, were: 2019, $4.6 million; 2020, $3.2 million; 2021, $2.1 million; 2022, $1.5 million; and 2023 and thereafter, $6.5 million.

5153000

3347000

4133000

3347000

3096000

3394000

2128000

3560000

1496000

3560000

5332000

15692000

21338000

32900000

2929000

8365000

18409000

24535000

4600000

3200000

2100000

1500000

6500000

The following schedule presents future minimum annual payments under the SLC lease finance obligation, and the present value of the minimum payments as of December 31, 2018: <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="91.22807017543859%"> <thead> <tr class="odd" style=""> <td style="width:83%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:15%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> (in thousands) </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:83%; vertical-align:bottom; "> Year ending December 31, </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td style="width:83%; vertical-align:bottom; "> 2019 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> $2,451 </td> </tr> <tr class="odd" style=""> <td style="width:83%; vertical-align:bottom; "> 2020 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 2,974 </td> </tr> <tr class="even" style=""> <td style="width:83%; vertical-align:bottom; "> 2021 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 2,990 </td> </tr> <tr class="odd" style=""> <td style="width:83%; vertical-align:bottom; "> 2022 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 3,054 </td> </tr> <tr class="even" style=""> <td style="width:83%; vertical-align:bottom; "> 2023 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 3,277 </td> </tr> <tr class="odd" style=""> <td style="width:83%; vertical-align:bottom; "> Thereafter </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; border-bottom:0.5pt solid; "> 18,930 </td> </tr> <tr class="even" style=""> <td style="width:83%; vertical-align:bottom; "> Total minimum payments </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 33,676 </td> </tr> <tr class="odd" style=""> <td style="width:83%; vertical-align:bottom; "> Less imputed interest </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; border-bottom:0.5pt solid; "> (7,790) </td> </tr> <tr class="even" style=""> <td style="width:83%; vertical-align:bottom; "> Total </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; border-bottom:3px double;"> $25,886 </td> </tr> </tbody> </table> </div> As of December 31, 2018, the capitalized value associated with the SLC lease was included in Property, plant, and equipment, net at a value of $17.3 million, which included a gross cost of $20.8 million, and Accumulated depreciation of $3.6 million.

2451000

2974000

2990000

3054000

3277000

18930000

33676000

7790000

25886000

17300000

20800000

3600000

The following table sets forth the number of claims filed, the number of claims settled, dismissed or otherwise resolved, and the aggregate settlement amount during the periods presented: <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="91.22807017543859%"> <thead> <tr class="odd" style=""> <td style="width:35%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Year ended December 31, </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Opening Number of Claims </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Claims Dismissed, Settled, or Resolved </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> New Claims </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Closing Number of Claims </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Amounts Paid (thousands) to Settle or Resolve </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:35%; vertical-align:bottom; "> 2014 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 4,299 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 625 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 147 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 3,821 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $437 </td> </tr> <tr class="even" style=""> <td style="width:35%; vertical-align:bottom; "> 2015 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 3,821 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 116 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 86 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 3,791 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 164 </td> </tr> <tr class="odd" style=""> <td style="width:35%; vertical-align:bottom; "> 2016 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 3,791 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 148 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 102 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 3,745 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 758 </td> </tr> <tr class="even" style=""> <td style="width:35%; vertical-align:bottom; "> 2017 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 3,745 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 105 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 90 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 3,730 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 55 </td> </tr> <tr class="odd" style=""> <td style="width:35%; vertical-align:bottom; "> 2018 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 3,730 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 152 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 106 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 3,684 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 100 </td> </tr> <tr class="even" style=""> <td style="width:35%; vertical-align:bottom; "> 2019 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 3,684 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 51 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 75 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 3,708 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $25 </td> </tr> </tbody> </table> </div>

4299

625

147

3821

437000

3821

116

3791

164000

3791

148

102

3745

758000

3745

105

3730

55000

3730

152

106

3684

100000

3684

3708

25000

37797 10300000 1 140000000 7710 1

P20Y

P10Y

Activity with respect to these plans is as follows: <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="91.22807017543859%"> <thead> <tr class="odd" style=""> <td style="width:55%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2019 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2018 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2017 </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:55%; vertical-align:bottom; "> Shares under option January 1 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 18,940 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 29,340 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 62,390 </td> </tr> <tr class="even" style=""> <td style="width:55%; vertical-align:bottom; "> Options canceled </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> — </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> — </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 150 </td> </tr> <tr class="odd" style=""> <td style="width:55%; vertical-align:bottom; "> Options exercised </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> 6,990 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> 10,400 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> 32,900 </td> </tr> <tr class="even" style=""> <td style="width:55%; vertical-align:bottom; "> Shares under option at December 31 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 11,950 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 18,940 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 29,340 </td> </tr> <tr class="odd" style=""> <td style="width:55%; vertical-align:bottom; "> Options exercisable at December 31 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> 11,950 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> 18,940 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> 29,340 </td> </tr> </tbody> </table> </div> The weighted average exercise price is as follows: <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="91.22807017543859%"> <thead> <tr class="odd" style=""> <td style="width:55%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2019 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2018 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2017 </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:55%; vertical-align:bottom; "> Shares under option January 1 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> $17.87 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> $18.40 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> $18.28 </td> </tr> <tr class="even" style=""> <td style="width:55%; vertical-align:bottom; "> Options canceled </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> — </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> — </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 20.63 </td> </tr> <tr class="odd" style=""> <td style="width:55%; vertical-align:bottom; "> Options exercised </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> 16.06 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> 19.38 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> 18.16 </td> </tr> <tr class="even" style=""> <td style="width:55%; vertical-align:bottom; "> Shares under option December 31 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 18.93 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 17.87 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> 18.40 </td> </tr> <tr class="odd" style=""> <td style="width:55%; vertical-align:bottom; "> Options exercisable December 31 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> 18.93 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> 17.87 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> 18.40 </td> </tr> </tbody> </table> </div>

18940

29340

62390

150

6990

10400

32900

11950

18940

29340

11950

18940

29340

17.87

18.40

18.28

20.63

16.06

19.38

18.16

18.93

17.87

18.40

18.93

17.87

18.40

700000

400000

500000

1100000

25473

1000000.0

33425

1300000

25899

1000000.0

800000

2600000

0.40 0.50

10751

1400000

18784

1900000

2600000

3300000

P3Y

4900000

3400000

400000 200000

As of December 31, 2019, there were 1,115,472 shares of Company stock authorized for the payment of awards under these plans. Information with respect to these plans is presented below: <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="91.22807017543859%"> <thead> <tr class="odd" style=""> <td style="width:61%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Number of shares </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Weighted average grant date value per share </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Year-end intrinsic value (000's) </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:61%; vertical-align:bottom; "> Shares potentially payable at January 1, 2017 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 189,418 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> $36.90 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> $6,989 </td> </tr> <tr class="even" style=""> <td style="width:61%; vertical-align:bottom; "> Forfeitures </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> </tr> <tr class="odd" style=""> <td style="width:61%; vertical-align:bottom; "> Payments </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> (75,545) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> $36.35 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td style="width:61%; vertical-align:bottom; "> Shares accrued based on 2017 performance </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 43,532 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> $48.26 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> </td> </tr> <tr class="odd" style=""> <td style="width:61%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td style="width:61%; vertical-align:bottom; "> Shares potentially payable at December 31, 2017 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 157,405 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> $40.30 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> $6,343 </td> </tr> <tr class="odd" style=""> <td style="width:61%; vertical-align:bottom; "> Forfeitures </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td style="width:61%; vertical-align:bottom; "> Payments </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> (79,762) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> $39.90 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> </tr> <tr class="odd" style=""> <td style="width:61%; vertical-align:bottom; "> Shares accrued based on 2018 performance </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 34,822 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> $70.59 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> </td> </tr> <tr class="even" style=""> <td style="width:61%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> </tr> <tr class="odd" style=""> <td style="width:61%; vertical-align:bottom; "> Shares potentially payable at December 31, 2018 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 112,465 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> $49.96 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> $5,619 </td> </tr> <tr class="even" style=""> <td style="width:61%; vertical-align:bottom; "> Forfeitures </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> </tr> <tr class="odd" style=""> <td style="width:61%; vertical-align:bottom; "> Payments </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> (45,689) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> $36.74 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td style="width:61%; vertical-align:bottom; "> Shares accrued based on 2019 performance </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 14,936 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> $92.12 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> </td> </tr> <tr class="odd" style=""> <td style="width:61%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td style="width:61%; vertical-align:bottom; "> Shares potentially payable at December 31, 2019 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 81,712 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:12%; vertical-align:bottom; border-bottom:0.5pt solid; "> $65.06 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> $5,316 </td> </tr> </tbody> </table> </div>

1115472

189418

36.90

6989000

75545

36.35

43532

48.26

157405

40.30

6343000

79762

39.90

34822

70.59

112465

49.96

5619000

45689

36.74

14936

92.12

81712

65.06

5316000

P5Y

6300000

4800000

4900000

11000000

P2Y

The determination of compensation expense for other management share-based compensation plans is based on the number of outstanding share units, the end-of-period share price, and Company performance. Information with respect to these plans is presented below: <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="91.22807017543859%"> <thead> <tr class="odd" style=""> <td style="width:64%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Number of shares </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Weighted average value per share </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Cash paid for share based liabilities (000's) </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:64%; vertical-align:bottom; "> Share units potentially payable at January 1, 2017 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 261,145 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td style="width:64%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> </tr> <tr class="odd" style=""> <td style="width:64%; vertical-align:bottom; "> Grants </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 96,505 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td style="width:64%; vertical-align:bottom; "> Changes due to performance </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> (11,891) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> </tr> <tr class="odd" style=""> <td style="width:64%; vertical-align:bottom; "> Payments </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> (89,190) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $46.64 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $4,160 </td> </tr> <tr class="even" style=""> <td style="width:64%; vertical-align:bottom; "> Forfeitures </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> (20,473) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> </tr> <tr class="odd" style=""> <td style="width:64%; vertical-align:bottom; "> Share units potentially payable at December 31, 2017 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 236,096 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td style="width:64%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> </tr> <tr class="odd" style=""> <td style="width:64%; vertical-align:bottom; "> Grants </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 65,370 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td style="width:64%; vertical-align:bottom; "> Changes due to performance </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 14,343 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> </tr> <tr class="odd" style=""> <td style="width:64%; vertical-align:bottom; "> Payments </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> (75,545) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $62.69 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $4,736 </td> </tr> <tr class="even" style=""> <td style="width:64%; vertical-align:bottom; "> Forfeitures </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> (12,963) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> </tr> <tr class="odd" style=""> <td style="width:64%; vertical-align:bottom; "> Share units potentially payable at December 31, 2018 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 227,301 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td style="width:64%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> </tr> <tr class="odd" style=""> <td style="width:64%; vertical-align:bottom; "> Grants </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 58,878 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td style="width:64%; vertical-align:bottom; "> Changes due to performance </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 21,740 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> </tr> <tr class="odd" style=""> <td style="width:64%; vertical-align:bottom; "> Payments </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> (69,912) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $70.67 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $5,528 </td> </tr> <tr class="even" style=""> <td style="width:64%; vertical-align:bottom; "> Forfeitures </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> (22,935) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> </tr> <tr class="odd" style=""> <td style="width:64%; vertical-align:bottom; "> Share units potentially payable at December 31, 2019 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 215,072 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> </tr> </tbody> </table> </div>

261145

96505

11891

89190

46.64

4160000

20473

236096

65370

-14343

75545

62.69

4736000

12963

227301

58878

-21740

69912

70.67

5528000

22935

215072

1100000

500000

1500000

3000000.0

0.50

6800000

6300000

5900000

3700000

3200000

2600000

In 2019, a public offering of a portion of the Standish Family shares reduced the number of Class A Common Stock reserved for the conversion of Class B shares, by 1.6 million. At December 31, 2019, 1.6 million shares of Class A Common Stock were reserved for the conversion of Class B Common Stock and the exercise of stock options. In August 2006, we announced that the Board of Directors authorized management to purchase up to 2 million additional shares of our Class A Common Stock. The Board’s action authorizes management to purchase shares from time to time, in the open market or otherwise, whenever it believes such purchase to be advantageous to our shareholders, and it is otherwise legally permitted to do so. We have made no share purchases under the August 2006 authorization. Activity in Shareholders’ equity for 2017, 2018, and 2019 is presented below: <div> 101 <hr style="border-top:1.5pt solid #000000;"/> <div style="page-break-after: always;"/> <a href="#t001">Index</a> </div> ALBANY INTERNATIONAL CORP. Notes to Consolidated Financial Statements 23. Shareholders’ Equity — (continued) <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="100%"> <thead> <tr class="odd" style=""> <td rowspan="2" style="width:21%; vertical-align:bottom; "> (in thousands) </td> <td rowspan="2" style="width:1%; vertical-align:bottom; "> </td> <td colspan="3" style="width:11%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Class A Common Stock </td> <td rowspan="2" style="width:1%; vertical-align:bottom; "> </td> <td colspan="3" style="width:11%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Class B Common Stock </td> <td rowspan="2" style="width:1%; vertical-align:bottom; "> </td> <td rowspan="2" style="width:7%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Additional paid-in capital </td> <td rowspan="2" style="width:1%; vertical-align:bottom; "> </td> <td rowspan="2" style="width:6%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Retained earnings </td> <td rowspan="2" style="width:1%; vertical-align:bottom; "> </td> <td rowspan="2" style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Accumulated items of other comprehensive income </td> <td rowspan="2" style="width:1%; vertical-align:bottom; "> </td> <td colspan="3" style="width:12%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Class A Treasury Stock </td> <td rowspan="2" style="width:1%; vertical-align:bottom; "> </td> <td rowspan="2" style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Noncontrolling Interest </td> <td rowspan="2" style="width:1%; vertical-align:bottom; "> </td> <td rowspan="2" style="width:5%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Total Equity </td> </tr> <tr class="even" style=""> <td style="width:5%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Shares </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Amount </td> <td style="width:5%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Shares </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Amount </td> <td style="width:5%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Shares </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:5%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Amount </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:21%; vertical-align:bottom; "> January 1, 2017 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> 37,319 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> $37 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> 3,234 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> $3 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:7%; vertical-align:bottom; "> $425,953 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:6%; vertical-align:bottom; "> $522,855 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $(184,189) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> 8,443 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> $(257,136) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $3,767 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> $511,290 </td> </tr> <tr class="even" style=""> <td style="width:21%; vertical-align:bottom; "> Net income </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:7%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:6%; vertical-align:bottom; "> 33,111 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> (526) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> 32,585 </td> </tr> <tr class="odd" style=""> <td style="width:21%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:7pt; text-align:left; margin-top:0pt; padding-left:0pt; text-indent: -10pt !important; padding-left: 10pt !important; margin-bottom: 0pt;color:#000000; ">Compensation and benefits paid or payable in shares </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> 44 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:7%; vertical-align:bottom; "> 1,564 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:6%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> 1,564 </td> </tr> <tr class="even" style=""> <td style="width:21%; vertical-align:bottom; "> Options exercised </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> 33 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:7%; vertical-align:bottom; "> 597 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:6%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> 597 </td> </tr> <tr class="odd" style=""> <td style="width:21%; vertical-align:bottom; "> Shares issued to Directors' </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:7%; vertical-align:bottom; "> 309 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:6%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> (12) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> 260 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> 569 </td> </tr> <tr class="even" style=""> <td style="width:21%; vertical-align:bottom; "> Dividends declared </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:7%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:6%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> </td> </tr> <tr class="odd" style=""> <td style="width:21%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:7pt; text-align:left; margin-top:0pt; padding-left:10pt; text-indent: -10pt !important; padding-left: 20pt !important; margin-bottom: 0pt;color:#000000; ">Class A Common Stock, $0.68 per share </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:7%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:6%; vertical-align:bottom; "> (19,685) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> (19,685) </td> </tr> <tr class="even" style=""> <td style="width:21%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:7pt; text-align:left; margin-top:0pt; padding-left:10pt; text-indent: -10pt !important; padding-left: 20pt !important; margin-bottom: 0pt;color:#000000; ">Class B Common Stock, $0.68 per share </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:7%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:6%; vertical-align:bottom; "> (2,199) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> (2,199) </td> </tr> <tr class="odd" style=""> <td style="width:21%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:7pt; text-align:left; margin-top:0pt; padding-left:0pt; text-indent: -10pt !important; padding-left: 10pt !important; margin-bottom: 0pt;color:#000000; ">Cumulative translation adjustments </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:7%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:6%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 45,980 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 6 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> 45,986 </td> </tr> <tr class="even" style=""> <td style="width:21%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:7pt; text-align:left; margin-top:0pt; padding-left:0pt; text-indent: -10pt !important; padding-left: 10pt !important; margin-bottom: 0pt;color:#000000; ">Pension and postretirement liability adjustments </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:7%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:6%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 1,183 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> 1,183 </td> </tr> <tr class="odd" style=""> <td style="width:21%; vertical-align:bottom; "> Derivative valuation adjustment. </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:7%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:6%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 1,125 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; border-bottom:0.5pt solid; "> 1,125 </td> </tr> <tr class="even" style=""> <td style="width:21%; vertical-align:bottom; "> December 31, 2017 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; border-bottom:0.5pt solid; "> 37,396 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; border-bottom:0.5pt solid; "> $37 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; border-bottom:0.5pt solid; "> 3,234 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; border-bottom:0.5pt solid; "> $3 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:7%; vertical-align:bottom; border-bottom:0.5pt solid; "> $428,423 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:6%; vertical-align:bottom; border-bottom:0.5pt solid; "> $534,082 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> $(135,901) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; border-bottom:0.5pt solid; "> 8,431 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; border-bottom:0.5pt solid; "> $(256,876) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> $3,247 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; border-bottom:0.5pt solid; "> $573,015 </td> </tr> <tr class="odd" style=""> <td style="width:21%; vertical-align:bottom; "> Net income </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:7%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:6%; vertical-align:bottom; "> 82,891 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 128 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> 83,019 </td> </tr> <tr class="even" style=""> <td style="width:21%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:7pt; text-align:left; margin-top:0pt; padding-left:0pt; text-indent: -10pt !important; padding-left: 10pt !important; margin-bottom: 0pt;color:#000000; ">Adoption of accounting standards (a),(b) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:7%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:6%; vertical-align:bottom; "> (5,068) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> (327) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> (5,395) </td> </tr> <tr class="odd" style=""> <td style="width:21%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:7pt; text-align:left; margin-top:0pt; padding-left:0pt; text-indent: -10pt !important; padding-left: 10pt !important; margin-bottom: 0pt;color:#000000; ">Compensation and benefits paid or payable in shares </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> 44 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:7%; vertical-align:bottom; "> 1,437 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:6%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> 1,437 </td> </tr> <tr class="even" style=""> <td style="width:21%; vertical-align:bottom; "> Options exercised </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> 10 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:7%; vertical-align:bottom; "> 201 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:6%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> 201 </td> </tr> <tr class="odd" style=""> <td style="width:21%; vertical-align:bottom; "> Shares issued to Directors' </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:7%; vertical-align:bottom; "> 494 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:6%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> (12) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> 273 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> 767 </td> </tr> <tr class="even" style=""> <td style="width:21%; vertical-align:bottom; "> Dividends declared </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:7%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:6%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> </td> </tr> <tr class="odd" style=""> <td style="width:21%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:7pt; text-align:left; margin-top:0pt; padding-left:10pt; text-indent: -10pt !important; padding-left: 20pt !important; margin-bottom: 0pt;color:#000000; ">Class A Common Stock, $0.69 per share </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:7%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:6%; vertical-align:bottom; "> (20,029) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> (20,029) </td> </tr> <tr class="even" style=""> <td style="width:21%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:7pt; text-align:left; margin-top:0pt; padding-left:10pt; text-indent: -10pt !important; padding-left: 20pt !important; margin-bottom: 0pt;color:#000000; ">Class B Common Stock, $0.69 per share </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:7%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:6%; vertical-align:bottom; "> (2,231) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> (2,231) </td> </tr> <tr class="odd" style=""> <td style="width:21%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:7pt; text-align:left; margin-top:0pt; padding-left:0pt; text-indent: -10pt !important; padding-left: 10pt !important; margin-bottom: 0pt;color:#000000; ">Cumulative translation adjustments </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:7%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:6%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> (28,658) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> (17) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> (28,675) </td> </tr> <tr class="even" style=""> <td style="width:21%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:7pt; text-align:left; margin-top:0pt; padding-left:0pt; text-indent: -10pt !important; padding-left: 10pt !important; margin-bottom: 0pt;color:#000000; ">Pension and postretirement liability adjustments </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:7%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:6%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 3,427 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> 3,427 </td> </tr> <tr class="odd" style=""> <td style="width:21%; vertical-align:bottom; "> Derivative valuation adjustment. </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:7%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:6%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> 2,744 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; border-bottom:0.5pt solid; "> 2,744 </td> </tr> <tr class="even" style=""> <td style="width:21%; vertical-align:bottom; "> December 31, 2018 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; border-bottom:0.5pt solid; "> 37,450 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; border-bottom:0.5pt solid; "> $37 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; border-bottom:0.5pt solid; "> 3,234 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; border-bottom:0.5pt solid; "> $3 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:7%; vertical-align:bottom; border-bottom:0.5pt solid; "> $430,555 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:6%; vertical-align:bottom; border-bottom:0.5pt solid; "> $589,645 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> $(158,388) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; border-bottom:0.5pt solid; "> 8,419 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; border-bottom:0.5pt solid; "> $(256,603) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> $3,031 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; border-bottom:0.5pt solid; "> $608,280 </td> </tr> <tr class="odd" style=""> <td style="width:21%; vertical-align:bottom; "> Net income </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:7%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:6%; vertical-align:bottom; "> 132,398 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 985 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> 133,383 </td> </tr> <tr class="even" style=""> <td style="width:21%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:7pt; text-align:left; margin-top:0pt; padding-left:0pt; text-indent: -10pt !important; padding-left: 10pt !important; margin-bottom: 0pt;color:#000000; ">Adoption of accounting standards (c) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:7%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:6%; vertical-align:bottom; "> 35 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> 35 </td> </tr> <tr class="odd" style=""> <td style="width:21%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:7pt; text-align:left; margin-top:0pt; padding-left:0pt; text-indent: -10pt !important; padding-left: 10pt !important; margin-bottom: 0pt;color:#000000; ">Compensation and benefits paid or payable in shares </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> 26 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:7%; vertical-align:bottom; "> 1,311 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:6%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> 1,311 </td> </tr> <tr class="even" style=""> <td style="width:21%; vertical-align:bottom; "> Options exercised </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> 7 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:7%; vertical-align:bottom; "> 112 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:6%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> 112 </td> </tr> <tr class="odd" style=""> <td style="width:21%; vertical-align:bottom; "> Shares issued to Directors' </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:7%; vertical-align:bottom; "> 540 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:6%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> (10) </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> 212 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> 752 </td> </tr> <tr class="even" style=""> <td style="width:21%; vertical-align:bottom; "> Dividends declared </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:7%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:6%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> </td> </tr> <tr class="odd" style=""> <td style="width:21%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:7pt; text-align:left; margin-top:0pt; padding-left:10pt; text-indent: -10pt !important; padding-left: 20pt !important; margin-bottom: 0pt;color:#000000; ">Class A Common Stock, $0.73 per share </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:7%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:6%; vertical-align:bottom; "> (21,818) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> (21,818) </td> </tr> <tr class="even" style=""> <td style="width:21%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:7pt; text-align:left; margin-top:0pt; padding-left:10pt; text-indent: -10pt !important; padding-left: 20pt !important; margin-bottom: 0pt;color:#000000; ">Class B Common Stock, $0.73 per share </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:7%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:6%; vertical-align:bottom; "> (1,763) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> (1,763) </td> </tr> <tr class="odd" style=""> <td style="width:21%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:7pt; text-align:left; margin-top:0pt; padding-left:0pt; text-indent: -10pt !important; padding-left: 10pt !important; margin-bottom: 0pt;color:#000000; ">Conversion of Class B shares to Class A shares (d) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> 1,616 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> 2 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> (1,616) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> (1) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:7%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:6%; vertical-align:bottom; "> (1) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> </tr> <tr class="even" style=""> <td style="width:21%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:7pt; text-align:left; margin-top:0pt; padding-left:0pt; text-indent: -10pt !important; padding-left: 10pt !important; margin-bottom: 0pt;color:#000000; ">Cumulative translation adjustments </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:7%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:6%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> (6,876) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> (10) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> (6,886) </td> </tr> <tr class="odd" style=""> <td style="width:21%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:7pt; text-align:left; margin-top:0pt; padding-left:0pt; text-indent: -10pt !important; padding-left: 10pt !important; margin-bottom: 0pt;color:#000000; ">Pension and postretirement liability adjustments </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:7%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:6%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> (2,885) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> (2,885) </td> </tr> <tr class="even" style=""> <td style="width:21%; vertical-align:bottom; "> Derivative valuation adjustment. </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:7%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:6%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> (7,832) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> — </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; border-bottom:0.5pt solid; "> (7,832) </td> </tr> <tr class="odd" style=""> <td style="width:21%; vertical-align:bottom; "> December 31, 2019 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; border-bottom:0.5pt solid; "> 39,099 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; border-bottom:0.5pt solid; "> $39 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; border-bottom:0.5pt solid; "> 1,618 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; border-bottom:0.5pt solid; "> $2 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:7%; vertical-align:bottom; border-bottom:0.5pt solid; "> $432,518 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:6%; vertical-align:bottom; border-bottom:0.5pt solid; "> $698,496 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> $(175,981) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; border-bottom:0.5pt solid; "> 8,409 </td> <td style="width:2%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; border-bottom:0.5pt solid; "> $(256,391) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; border-bottom:0.5pt solid; "> $4,006 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; border-bottom:0.5pt solid; "> $702,689 </td> </tr> </tbody> </table> </div> <div> <table cellpadding="0" style="border-collapse: collapse;" width="100%"> <tbody> <tr class="odd" style=""> <td colspan="2" style="width:100%; vertical-align:top; "> <hr style="border-top:0.5pt solid #000000; width:13%; margin-left: 0pt;text-align:left;"/> </td> </tr> <tr class="even" style=""> <td style="width:4%; vertical-align:top; "> (a) </td> <td style="width:94%; vertical-align:top; "> As described in Note 2, the Company adopted ASC 606 effective January 1, 2018, which resulted in a decrease to Retained earnings of $5.6 million and a $0.3 million decrease to Noncontrolling interest. </td> </tr> </tbody> </table> </div> <div> 102 <hr style="border-top:1.5pt solid #000000;"/> <div style="page-break-after: always;"/> <a href="#t001">Index</a> </div> ALBANY INTERNATIONAL CORP. Notes to Consolidated Financial Statements 23. Shareholders’ Equity — (continued) <div> <table cellpadding="0" style="border-collapse: collapse;" width="100%"> <tbody> <tr class="odd" style=""> <td colspan="2" style="width:100%; vertical-align:top; "> </td> </tr> <tr class="even" style=""> <td style="width:4%; vertical-align:top; "> (b) </td> <td style="width:94%; vertical-align:top; "> The Company adopted ASU 2016-16 effective January 1, 2018, which resulted in a $0.5 million increase to Retained earnings. </td> </tr> <tr class="odd" style=""> <td style="width:4%; vertical-align:top; "> (c) </td> <td style="width:94%; vertical-align:top; "> As described in Note 20, the Company adopted ASC 842, Leases effective January 1, 2019, which resulted in an increase to Retained earnings of less than $0.1 million. </td> </tr> <tr class="even" style=""> <td style="width:4%; vertical-align:top; "> (d) </td> <td style="width:94%; vertical-align:top; "> In the second quarter of 2019, Standish Family Holdings, LLC executed a secondary offering of Albany shares. As a result of the offering, 1.6 million shares of Class B Common Stock previously owned by Standish Family Holdings, LLC were converted to Class A Common Stock and then sold to third parties. Costs associated with the offering were charged directly to Standish Family Holdings, LLC. </td> </tr> </tbody> </table> </div>

1600000

2000000

37319000

37000

3234000

3000

425953000

522855000

-184189000

8443000

-257136000

3767000

511290000

33111000

-526000

32585000

44000

1564000

33000

597000

309000

-12000

260000

569000

0.68

19685000

0.68

2199000

45980000

6000

45986000

-1183000

1125000

37396000

37000

3234000

3000

428423000

534082000

-135901000

8431000

-256876000

3247000

573015000

82891000

128000

83019000

-5068000 -327000 -5395000

44000

1437000

10000

201000

494000

-12000

273000

767000

0.69

20029000

0.69

2231000

-28658000

-17000

-28675000

-3427000

2744000

37450000

37000

3234000

3000

430555000

589645000

-158388000

8419000

-256603000

3031000

608280000

132398000

985000

133383000

35000 35000

26000

1311000

7000

112000

540000

-10000

212000

752000

0.73

21818000

0.73

1763000

1616

2000

-1616

-1000

-6876000

-10000

-6886000

2885000

-7832000

39099000

39000

1618000

2000

432518000

698496000

-175981000

8409000

-256391000

4006000

702689000

5600000

300000

500000 100000

1600000

32400000

5600000

The seller provided representations, warranties and indemnities customary for acquisition transactions, including indemnities for certain customer claims identified, before closing. The acquired entity is part of the AEC segment. CirComp specializes in designing and manufacturing customized engineered composite components for aerospace and other demanding industrial applications. The following table summarizes the provisional allocation of the purchase price to the fair value of the assets and liabilities acquired: <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="100%"> <thead> <tr class="odd" style=""> <td style="width:80%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> (in thousands) </td> <td style="width:5%; vertical-align:bottom; "> </td> <td style="width:15%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> November 20, 2019 </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:80%; vertical-align:bottom; "> Assets acquired </td> <td style="width:5%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td style="width:80%; vertical-align:bottom; "> Cash </td> <td style="width:5%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> $1,607 </td> </tr> <tr class="odd" style=""> <td style="width:80%; vertical-align:bottom; "> Accounts receivable </td> <td style="width:5%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 986 </td> </tr> <tr class="even" style=""> <td style="width:80%; vertical-align:bottom; "> Contract assets </td> <td style="width:5%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 2,269 </td> </tr> <tr class="odd" style=""> <td style="width:80%; vertical-align:bottom; "> Inventories </td> <td style="width:5%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 525 </td> </tr> <tr class="even" style=""> <td style="width:80%; vertical-align:bottom; "> Prepaid expenses and other current assets </td> <td style="width:5%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 452 </td> </tr> <tr class="odd" style=""> <td style="width:80%; vertical-align:bottom; "> Right of use assets </td> <td style="width:5%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 5,686 </td> </tr> <tr class="even" style=""> <td style="width:80%; vertical-align:bottom; "> Property, plant and equipment </td> <td style="width:5%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 4,884 </td> </tr> <tr class="odd" style=""> <td style="width:80%; vertical-align:bottom; "> Amortizable intangible assets (see Note 15) </td> <td style="width:5%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 9,973 </td> </tr> <tr class="even" style=""> <td style="width:80%; vertical-align:bottom; "> Goodwill </td> <td style="width:5%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; border-bottom:0.5pt solid; "> 17,343 </td> </tr> <tr class="odd" style=""> <td style="width:80%; vertical-align:bottom; "> Total assets acquired </td> <td style="width:5%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; border-bottom:0.5pt solid; "> $43,725 </td> </tr> <tr class="even" style=""> <td style="width:80%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> </tr> <tr class="odd" style=""> <td style="width:80%; vertical-align:bottom; "> Liabilities assumed </td> <td style="width:5%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td style="width:80%; vertical-align:bottom; "> Accounts payable </td> <td style="width:5%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> $65 </td> </tr> <tr class="odd" style=""> <td style="width:80%; vertical-align:bottom; "> Accrued liabilities </td> <td style="width:5%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 2,249 </td> </tr> <tr class="even" style=""> <td style="width:80%; vertical-align:bottom; "> Lease liabilities </td> <td style="width:5%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 502 </td> </tr> <tr class="odd" style=""> <td style="width:80%; vertical-align:bottom; "> Deferred income taxes </td> <td style="width:5%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> 3,325 </td> </tr> <tr class="even" style=""> <td style="width:80%; vertical-align:bottom; "> Other noncurrent liabilities </td> <td style="width:5%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; border-bottom:0.5pt solid; "> 5,184 </td> </tr> <tr class="odd" style=""> <td style="width:80%; vertical-align:bottom; "> Total liabilities assumed </td> <td style="width:5%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; border-bottom:0.5pt solid; "> $11,325 </td> </tr> <tr class="even" style=""> <td style="width:80%; vertical-align:bottom; "> </td> <td style="width:5%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> </td> </tr> <tr class="odd" style=""> <td style="width:80%; vertical-align:bottom; "> Net assets acquired </td> <td style="width:5%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; border-bottom:0.5pt solid; "> $32,400 </td> </tr> <tr class="even" style=""> <td style="width:80%; vertical-align:bottom; "> Purchase of business, net of cash acquired </td> <td style="width:5%; vertical-align:bottom; "> </td> <td style="width:15%; vertical-align:bottom; "> $30,793 </td> </tr> </tbody> </table> </div>

1607000

986000

2269000

525000

452000

5686000

4884000

9973000

17343000

43725000

65000

2249000

502000

3325000

5184000

11325000

32400000

30793000

The following table presents operational results of the acquired entity that are included in the Consolidated Statements of Income (unaudited): <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="100%"> <thead> <tr class="odd" style=""> <td style="width:80%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> (in thousands, except per share amounts) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:17%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> November 20 to December 31, 2019 </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:80%; vertical-align:bottom; "> Net sales </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:17%; vertical-align:bottom; "> $485 </td> </tr> <tr class="even" style=""> <td style="width:80%; vertical-align:bottom; "> Operating loss </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:17%; vertical-align:bottom; "> (162) </td> </tr> <tr class="odd" style=""> <td style="width:80%; vertical-align:bottom; "> Loss before income taxes </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:17%; vertical-align:bottom; "> (199) </td> </tr> <tr class="even" style=""> <td style="width:80%; vertical-align:bottom; "> Net loss attributable to the Company </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:17%; vertical-align:bottom; "> (324) </td> </tr> <tr class="odd" style=""> <td style="width:80%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:17%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td style="width:80%; vertical-align:bottom; "> Loss per share: </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:17%; vertical-align:bottom; "> </td> </tr> <tr class="odd" style=""> <td style="width:80%; vertical-align:bottom; "> Basic </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:17%; vertical-align:bottom; "> $(0.01) </td> </tr> <tr class="even" style=""> <td style="width:80%; vertical-align:bottom; "> Diluted </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:17%; vertical-align:bottom; border-bottom:0.5pt solid; "> $(0.01) </td> </tr> </tbody> </table> </div>

485000

-162000

-199000

-324000

-0.01

100000

5500000

500000

<div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="91.22807017543859%"> <thead> <tr class="odd" style=""> <td style="width:42%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> (in millions, except per share amounts) </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 1st </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 2nd </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 3rd </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> 4th </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Total </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:42%; vertical-align:bottom; "> 2019 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td style="width:42%; vertical-align:bottom; "> Net sales </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> $251.4 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> $273.9 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> $271.1 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> $257.7 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> $1,054.1 </td> </tr> <tr class="odd" style=""> <td style="width:42%; vertical-align:bottom; "> Gross profit </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 91.8 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 105.2 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 104.1 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 96.6 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 397.7 </td> </tr> <tr class="even" style=""> <td style="width:42%; vertical-align:bottom; "> <p style="font-family: Arial, Helvetica, sans-serif; font-size:10pt; text-align:left; margin-top:0pt; padding-left:0pt; text-indent: -10pt !important; padding-left: 10pt !important; margin-bottom: 0pt;color:#000000; ">Net income attributable to the Company </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 29.2 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 34.1 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 40.0 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 29.1 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 132.4 </td> </tr> <tr class="odd" style=""> <td style="width:42%; vertical-align:bottom; "> Basic earnings per share </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 0.90 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 1.05 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 1.24 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 0.91 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 4.10 </td> </tr> <tr class="even" style=""> <td style="width:42%; vertical-align:bottom; "> Diluted earnings per share </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 0.90 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 1.05 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 1.24 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 0.91 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 4.10 </td> </tr> <tr class="odd" style=""> <td style="width:42%; vertical-align:bottom; "> Cash dividends per share </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 0.18 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 0.18 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 0.18 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 0.19 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 0.73 </td> </tr> <tr class="even" style=""> <td style="width:42%; vertical-align:bottom; "> Class A Common Stock prices: </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> </td> </tr> <tr class="odd" style=""> <td style="width:42%; vertical-align:bottom; "> High </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 78.45 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 82.91 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 91.51 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 90.30 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td style="width:42%; vertical-align:bottom; "> Low </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 60.82 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 69.29 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 78.41 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 75.92 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> </td> </tr> <tr class="odd" style=""> <td style="width:42%; vertical-align:bottom; "> 2018 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td style="width:42%; vertical-align:bottom; "> Net sales </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> $223.6 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> $255.4 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> $251.9 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> $251.6 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> $982.5 </td> </tr> <tr class="odd" style=""> <td style="width:42%; vertical-align:bottom; "> Gross profit </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 77.7 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 91.7 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 92.4 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 87.9 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 349.7 </td> </tr> <tr class="even" style=""> <td style="width:42%; vertical-align:bottom; "> Net income attributable to the Company </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 7.7 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 29.9 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 27.7 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 17.6 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 82.9 </td> </tr> <tr class="odd" style=""> <td style="width:42%; vertical-align:bottom; "> Basic earnings per share </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 0.24 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 0.93 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 0.86 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 0.54 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 2.57 </td> </tr> <tr class="even" style=""> <td style="width:42%; vertical-align:bottom; "> Diluted earnings per share </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 0.24 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 0.93 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 0.86 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 0.54 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 2.57 </td> </tr> <tr class="odd" style=""> <td style="width:42%; vertical-align:bottom; "> Cash dividends per share </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 0.17 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 0.17 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 0.17 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 0.18 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 0.69 </td> </tr> <tr class="even" style=""> <td style="width:42%; vertical-align:bottom; "> Class A Common Stock prices: </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> </td> </tr> <tr class="odd" style=""> <td style="width:42%; vertical-align:bottom; "> High </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 67.30 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 65.45 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 81.40 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 78.31 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td style="width:42%; vertical-align:bottom; "> Low </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 60.05 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 58.35 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 60.70 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 58.41 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> </td> </tr> <tr class="odd" style=""> <td style="width:42%; vertical-align:bottom; "> 2017 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td style="width:42%; vertical-align:bottom; "> Net sales </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> $199.3 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> $215.6 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> $222.1 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> $226.7 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> $863.7 </td> </tr> <tr class="odd" style=""> <td style="width:42%; vertical-align:bottom; "> Gross profit </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 76.0 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 63.2 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 79.6 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 77.5 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 296.3 </td> </tr> <tr class="even" style=""> <td style="width:42%; vertical-align:bottom; "> Net income attributable to the Company </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 10.8 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 1.1 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 15.3 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 5.9 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 33.1 </td> </tr> <tr class="odd" style=""> <td style="width:42%; vertical-align:bottom; "> Basic earnings per share </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 0.34 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 0.03 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 0.47 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 0.19 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 1.03 </td> </tr> <tr class="even" style=""> <td style="width:42%; vertical-align:bottom; "> Diluted earnings per share </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 0.34 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 0.03 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 0.47 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 0.19 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 1.03 </td> </tr> <tr class="odd" style=""> <td style="width:42%; vertical-align:bottom; "> Cash dividends per share </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 0.17 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 0.17 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 0.17 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 0.17 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 0.68 </td> </tr> <tr class="even" style=""> <td style="width:42%; vertical-align:bottom; "> Class A Common Stock prices: </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> </td> </tr> <tr class="odd" style=""> <td style="width:42%; vertical-align:bottom; "> High </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 49.05 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 53.40 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 57.60 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 65.25 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td style="width:42%; vertical-align:bottom; "> Low </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 43.90 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 43.90 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 50.25 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> 56.45 </td> <td style="width:1%; vertical-align:bottom; "> </td> <td style="width:11%; vertical-align:bottom; "> </td> </tr> </tbody> </table> </div> In 2019, restructuring charges (decreased)/increased earnings per share by ($0.01) in the first quarter, ($0.02) in the second quarter, $0.01 in the third quarter, and ($0.04) in the fourth quarter. The charges were primarily related to the closure of the MC Facility in Sélestat, France.

251400000

273900000

271100000

257700000

91800000

105200000

104100000

96600000

29200000

34100000

40000000.0

29100000

0.90

1.05

1.24

0.91

4.10

0.90

1.05

1.24

0.91

4.10

0.18

0.19

0.73

78.45 82.91 91.51 90.30 60.82 69.29 78.41 75.92

223600000

255400000

251900000

251600000

77700000

91700000

92400000

87900000

7700000

29900000

27700000

17600000

0.24

0.93

0.86

0.54

2.57

0.24

0.93

0.86

0.54

2.57

0.17

0.18

0.69

67.30 65.45 81.40 78.31 60.05 58.35 60.70 58.41

199300000

215600000

222100000

226700000

76000000.0

63200000

79600000

77500000

10800000

1100000

15300000

5900000

0.34

0.03

0.47

0.19

1.03

0.34

0.03

0.47

0.19

1.03

0.17

0.68

49.05 53.40 57.60 65.25 43.90 43.90 50.25 56.45 0.01 0.02 -0.01 0.04 0.10 -0.03 0.02 0.06 -0.18 -0.06 -0.06 -0.04 0.01 0.12 0.00 -0.01 -0.05 -0.04 -0.11 -0.07 -0.03 -0.02 0.12 -0.21 -0.06 0.01 20000 <div> <table cellpadding="0" style="border-collapse: collapse;margin: auto;" width="100%"> <thead> <tr class="odd" style=""> <td style="width:48%; vertical-align:bottom; "> Column A </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Column B </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Column C </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Column D </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Column E </td> </tr> <tr class="even" style=""> <td style="width:48%; vertical-align:bottom; "> Description </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Balance at beginning of period </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Charge to expense </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Other </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; border-bottom-width:0.5pt; border-bottom-style:solid; vertical-align:bottom; "> Balance at end of the period </td> </tr> </thead> <tbody> <tr class="odd" style=""> <td style="width:48%; vertical-align:bottom; "> Allowance for doubtful accounts </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td style="width:48%; vertical-align:bottom; "> Year ended December 31: </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> </tr> <tr class="odd" style=""> <td style="width:48%; vertical-align:bottom; "> 2019 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $7,337 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $309 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $(5,927) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $1,719 </td> </tr> <tr class="even" style=""> <td style="width:48%; vertical-align:bottom; "> 2018 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 7,919 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 579 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> (1,161) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 7,337 </td> </tr> <tr class="odd" style=""> <td style="width:48%; vertical-align:bottom; "> 2017 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 6,952 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 1,388 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> (421) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 7,919 </td> </tr> <tr class="even" style=""> <td style="width:48%; vertical-align:bottom; "> Allowance for sales returns </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> </tr> <tr class="odd" style=""> <td style="width:48%; vertical-align:bottom; "> Year ended December 31: </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td style="width:48%; vertical-align:bottom; "> 2019 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $11,343 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $7,278 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $(7,372) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $11,249 </td> </tr> <tr class="odd" style=""> <td style="width:48%; vertical-align:bottom; "> 2018 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 11,370 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 8,372 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> (8,399) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 11,343 </td> </tr> <tr class="even" style=""> <td style="width:48%; vertical-align:bottom; "> 2017 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 13,714 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 8,909 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> (11,253) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 11,370 </td> </tr> <tr class="odd" style=""> <td style="width:48%; vertical-align:bottom; "> Valuation allowance deferred tax assets </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> </tr> <tr class="even" style=""> <td style="width:48%; vertical-align:bottom; "> Year ended December 31: </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> </td> </tr> <tr class="odd" style=""> <td style="width:48%; vertical-align:bottom; "> 2019 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $8,389 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $859 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $(146) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> $9,102 </td> </tr> <tr class="even" style=""> <td style="width:48%; vertical-align:bottom; "> 2018 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 16,057 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> (4,882) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> (2,786) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 8,389 </td> </tr> <tr class="odd" style=""> <td style="width:48%; vertical-align:bottom; "> 2017 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 22,821 </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> (3,552) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> (3,212) </td> <td style="width:3%; vertical-align:bottom; "> </td> <td style="width:10%; vertical-align:bottom; "> 16,057 </td> </tr> </tbody> </table> </div> <div> <table cellpadding="0" style="border-collapse: collapse;" width="100%"> <tbody> <tr class="odd" style=""> <td colspan="2" style="width:100%; vertical-align:top; "> <hr style="border-top:0.5pt solid #000000; width:13%; margin-left: 0pt;text-align:left;"/> </td> </tr> <tr class="even" style=""> <td style="width:4%; vertical-align:top; "> (A) </td> <td style="width:94%; vertical-align:top; "> Amounts sold, written off, or recovered, and the effect of changes in currency translation rates, are included in Column D. </td> </tr> </tbody> </table> </div>

7337000

309000

-5927000

1719000

7919000

579000

-1161000

7337000

6952000

1388000

-421000

7919000

11343000

7278000

-7372000

11249000

11370000

8372000

-8399000

11343000

13714000

8909000

-11253000

11370000

8389000

146000

9102000

16057000

-4882000

-2786000

8389000

22821000

-3552000

-3212000

16057000

Included in interest expense, net are payments related to the interest rate swap agreements and amortization of swap buyouts (see Notes 17 and 18). These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note 4). In 2019, the Company acquired CirComp GmbH, which resulted in an increase in Property, plant and equipment of $10.6 million. Other includes hedged equity and absolute return strategies, and private equity. The Company has procedures to closely monitor the performance of these investments and compares asset valuations to audited financial statements of the funds. Original cost basis $0.5 million. Net of $32.0 million receivable floating leg and $27.5 million liability fixed leg. Net of $15.2 million receivable floating leg and $20.7 million liability fixed leg. As described in Note 2, the Company adopted ASC 606 effective January 1, 2018, which resulted in a decrease to Retained earnings of $5.6 million and a $0.3 million decrease to Noncontrolling interest. The Company adopted ASU 2016-16 effective January 1, 2018, which resulted in a $0.5 million increase to Retained earnings. As described in Note 20, the Company adopted ASC 842, Leases effective January 1, 2019, which resulted in an increase to Retained earnings of less than $0.1 million. In the second quarter of 2019, Standish Family Holdings, LLC executed a secondary offering of Albany shares. As a result of the offering, 1.6 million shares of Class B Common Stock previously owned by Standish Family Holdings, LLC were converted to Class A Common Stock and then sold to third parties. Costs associated with the offering were charged directly to Standish Family Holdings, LLC. Amounts sold, written off, or recovered, and the effect of changes in currency translation rates, are included in Column D.