4 unchanged sentences
Our Class B Common Stock does not trade publicly.
−Removed: As of December 31, 2020, there were 6 holders of Class B Common Stock.
+Added: As of December 31, 2021, there was 1 holder of Class B Common Stock.
Dividends are paid equally on shares of each class.
11 unchanged sentences
$ 31.61 $ 42.13 $ 48.08 $ 49.50
−Removed: The graph below matches the cumulative 5-Year total return of holders of Albany International Corp.’s common stock with the cumulative total returns of the Russell 2000 index and a customized peer group of twenty two companies that includes:
−Removed: Astronics Corp, Barnes Group Inc., Circor International Inc., Curtiss-wright Corp, Ducommun Inc., Enerpac Tool Group Corp, Enpro Industries Inc., Esco Technologies Inc., Heico Corp, Hexcel Corp, Idex Corp, Kadant Inc., National Presto Industries Inc., Neenah Inc., Nordson Corp, P H Glatfelter Co, Raven Industries Inc., Rogers Corp, Schweitzer-Mauduit International Inc., Tredegar Corp, Trimas Corp and Watts Water Technologies Inc.
+Added: The graph below matches the cumulative 5-Year total return of holders of Albany International Corp.’s common stock with the cumulative total returns of the Russell 2000 index and a customized peer group of twenty one companies that includes:
+Added: Astronics Corp, Barnes Group Inc., Circor International Inc., Curtiss-wright Corp, Ducommun Inc., Enerpac Tool Group Corp, Enpro Industries Inc., Esco Technologies Inc., Heico Corp, Hexcel Corp, Idex Corp, Kadant Inc., National Presto Industries Inc., Neenah Inc., Nordson Corp, P H Glatfelter Co, Rogers Corp, Schweitzer-Mauduit International Inc., Tredegar Corp, Trimas Corp and Watts Water Technologies Inc.
The graph assumes that the value of the investment in our common stock, in each index, and in the peer group (including reinvestment of dividends) was $100 on December 31, 2016 and tracks it through December 31, 2021.
1 unchanged sentence
*$100 invested on 12/31/16 in stock or index, including reinvestment of dividends.
−Removed: Fiscal year ending December 31.
Copyright© 2022 Russell Investment Group.
All rights reserved.
+Added: Fiscal year ending December 31.
2016 2017 2018 2019 2020 2021
4 unchanged sentences
The stock price performance included in this graph is not necessarily indicative of future stock price performance.
−Removed: Restrictions on dividends and other distributions are described in Note 17 of the Consolidated Financial Statements, included under Item 8 of this Form 10-K, which is incorporated herein.
+Added: Restrictions on dividends and other distributions are described in Note 17 of the Consolidated Financial Statements, included under Item 8 of this Form 10-K.
Disclosures of securities authorized for issuance under equity compensation plans are included under Item 12 of this Form 10-K.
−Removed: In August 2006, we announced that the Board of Directors had authorized management to purchase up to 2 million additional shares of our Class A Common Stock.
−Removed: The Board’s action authorized 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.
−Removed: Management has made no share purchases under this authorization.
+Added: Issuer Purchases of Equity Securities during the three months ended December 31, 2021
+Added: Period Total number of shares purchased Average price paid per share Total number of shares purchased as part of publicly announced program Approx.
+Added: dollar value of shares that may yet be purchased under the program
+Added: November 1 to November 30 126,677 $ 86.46 126,677 $ 189,110
+Added: December 1 to December 31 158,609 85.48 158,609 175,631
+Added: Total 285,286 285,286 $ 175,631
+Added: On October 25, 2021, the Company's Board of Directors authorized the Company to repurchase shares of up to $200 million through open market purchases, privately negotiated transactions or otherwise, and to determine the prices, times and amounts.
+Added: The program does not obligate the Company to acquire any particular amount of common stock, and it may be suspended or terminated at any time at the Company's discretion.
+Added: The share repurchase program does not have an expiration date.
+Added: The timing and amount of any share repurchases will be based on the Company’s liquidity, general business and market conditions, debt covenant restrictions and other factors, including alternative investment opportunities and capital structure.
+Added: Through December 31, 2021, the Company has repurchased 285,286 shares for a total of cost of $24.4 million.
SELECTED FINANCIAL DATA
The following selected historical financial data have been derived from our Consolidated Financial Statements in Item 8, which is incorporated herein by reference.
−Removed: The data should be read in conjunction with those financial statements and Management’s Discussion and Analysis of Financial Condition and Results of Operations in Item 7, which is incorporated herein by reference.
+Added: The data should be read in conjunction with those financial statements and Management’s Discussion and Analysis of Financial Condition and Results of Operations in Item 7.
(in thousands, except per share amounts) 2021 2020 2019 2018 2017
5 unchanged sentences
Interest expense, net 14,891 13,584 16,921 18,124 17,091
−Removed: Income/(loss) from continuing operations 97,243 133,383 83,019 32,585 52,812
+Added: Income from continuing operations 118,768 97,243 133,383 83,019 32,585
Net income attributable to the Company 118,478 98,589 132,398 82,891 33,111
6 unchanged sentences
Cash $ 302,036 $ 241,316 $ 195,540 $ 197,755 $ 183,727
−Removed: Asset held for sale (6) 563 515 — — —
Property, plant and equipment, net (2) (3) 436,417 448,554 466,462 462,055 454,302
26 unchanged sentences
required by that update, we have reclassified pension costs for periods prior to 2018.
−Removed: (6) In 2018, we discontinued operations at the Company’s production facility in Sélestat, France, and wrote
−Removed: down the land and building to its estimated fair market value.
−Removed: The value of $0.6 million as of December 31,
−Removed: 2020 reflects the estimated selling price.
−Removed: We anticipate the sale of the property to occur in 2021.
(6) In 2017, we discontinued the Bear Claw® line of hydraulic fracturing components used in the oil and gas
1 unchanged sentence
cash restructuring charge of $4.5 million for the write-off of equipment and intangibles.
−Removed: (8) In 2016, we acquired the outstanding shares of Harris Corporation’s composite aerostructures business for
−Removed: cash of $187 million, plus the assumption of certain liabilities.
−Removed: The table above includes operational results
−Removed: from April 8, 2016 to December 31, 2016 and for full years 2017 through 2020.
(7) During the period 2017 through 2021, we recorded restructuring charges related to organizational changes
1 unchanged sentence
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.