The Company reported a net reduction in restructuring costs for Q4 2013, principally due to a pension curtailment gain associated with the Company’s Machine Clothing production facilities in France. Q4 2013 Other expense, net, was $1.6 million, including losses related to the revaluation of nonfunctional-currency balances of $1.3 million. Q4 2012 Other expense, net, was $2.6 million, including losses of $2.8 million related to the revaluation of nonfunctional-currency balances.
Albany International Corp., a global advanced textiles and materials processing company with core businesses in machine clothing and engineered #
The Company’s income tax rate, excluding tax adjustments, was 48.8 percent for Q4 2013, compared to 38.5 percent for the same period of 2012. The increase in the tax rate was primarily attributable to changes in the amount and distribution of income and loss among the countries in which the Company operates, including losses in Europe driven by significant restructuring charges during 2013.
Albany International Corp., a global advanced textiles and materials processing company with core businesses in machine clothing and engineered #
Q4 2013 income tax expense included a charge of $1.2 million for a change in the income tax rate, and a net benefit of $1.8 million for discrete tax adjustments. Q4 2012 income tax expense included an unfavorable adjustment of $1.2 million related to a change in the tax rate, and net favorable discrete income tax adjustments of $1.1 million.
Albany International Corp., a global advanced textiles and materials processing company with core businesses in machine clothing and engineered #
Capital spending for equipment and software was $16.9 million for Q4 2013, resulting in a full-year total of $64.5 million, including $36.9 million for the Engineered Composites segment and its expansion associated with the LEAP program. Depreciation and amortization was $16.0 million for Q4 2013.
Albany International Corp., a global advanced textiles and materials processing company with core businesses in machine clothing and engineered #
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