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Noncontrolling Interest

9 Months Ended

Sep. 30, 2021

Noncontrolling Interest [Abstract]

Noncontrolling Interest

Noncontrolling InterestEffective October 31, 2013, Safran S.A. (Safran) acquired a 10 percent equity interest in a new Albany subsidiary, Albany Safran Composites, LLC (ASC). 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:

			Nine months ended September 30,
(in thousands, except percentages)			2021			2020
Net income/(loss) of Albany Safran Composites (ASC)			$	2,495		$	(13,310)
Less: Return attributable to the Company's preferred holding			991			884
Net income/(loss) of ASC available for common ownership			$	1,504		$	(14,194)
Ownership percentage of noncontrolling shareholder			10		%	10		%
Net income/(loss) attributable to the noncontrolling interest			$	150		$	(1,419)
Noncontrolling interest, beginning of year			$	3,799		$	4,006
Net income/(loss) attributable to the noncontrolling interest			150			(1,419)
Changes in other comprehensive income attributable to the noncontrolling interest			(219)			462
Noncontrolling interest, end of interim period			$	3,730		$	3,049

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- Definition

The entire disclosure for noncontrolling interest in consolidated subsidiaries, which could include the name of the subsidiary, the ownership percentage held by the parent, the ownership percentage held by the noncontrolling owners, the amount of the noncontrolling interest, the location of this amount on the balance sheet (when not reported separately), an explanation of the increase or decrease in the amount of the noncontrolling interest, the noncontrolling interest share of the net Income or Loss of the subsidiary, the location of this amount on the income statement (when not reported separately), the nature of the noncontrolling interest such as background information and terms, the amount of the noncontrolling interest represented by preferred stock, a description of the preferred stock, and the dividend requirements of the preferred stock.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-URI http://asc.fasb.org/topic&trid=2197479

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- References

No definition available.

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