Fair-Value Measurements (Tables)

6 Months Ended

Jun. 30, 2024

Schedule of Fair Value Measurements, Recurring and Nonrecurring

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:


	June 30, 2024				December 31, 2023
	Quoted prices in active markets		Significant other observable inputs		Quoted prices in active markets		Significant other observable inputs
(in thousands)	(Level 1)		(Level 2)		(Level 1)		(Level 2)
Fair Value
Assets:
Cash equivalents	$	12,184	$	—	$	27,157	$	—
Foreign currency option contracts	—		1,048		—		1,725
Foreign currency forward contracts	—		—		—		199
Other Assets:
Common stock of unaffiliated foreign public company (a)	759		—		682		—
Interest rate swaps	—		5,635		—		12,214
Liabilities
Foreign currency forward contracts	—		(2,790)		—		—

(a)Original cost basis $0.5 million.

Schedule of Derivative Instruments, Gain (Loss)

(Gains)/losses related to changes in fair value of derivative instruments that were recognized in Other (income)/expense, net in the Consolidated Statements of Income were as follows:


	Three months ended June 30,				Six months ended June 30,
(in thousands)	2024		2023		2024		2023
Derivatives not designated as hedging instruments:
Foreign currency options (gains)/losses	$	4,391	$	(138)	$	4,273	$	(123)

ALBANY INTERNATIONAL CORP /DE/ 10-Q