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Noncontrolling Interest (Tables)

6 Months Ended

Jun. 30, 2024

Noncontrolling Interest [Abstract]

Schedule of Income Attributable to Noncontrolling Interest and Noncontrolling Equity

The table below presents a reconciliation of income attributable to the noncontrolling interest and noncontrolling equity in the Company’s subsidiaries:

ASC Noncontrolling Interest			Six months ended June 30,
(in thousands, except percentages)			2024			2023
Net income of Albany Safran Composites (ASC)			$	1,841		$	4,146
Less: Return attributable to the Company's preferred holding			589			637
Net income of ASC available for common ownership			$	1,252		$	3,509
Ownership percentage of noncontrolling shareholder			10		%	10		%
Net income attributable to the noncontrolling interest			$	125		$	351
Noncontrolling interest, beginning of year			$	5,423		$	4,494
Net income attributable to noncontrolling interest			125			351
Changes in other comprehensive income attributable to the noncontrolling interest			(304)			417
ASC Noncontrolling interest, end of interim period			$	5,244		$	5,262
Arcari Noncontrolling interest, end of interim period			$	562		$	—
Total Noncontrolling interest, end of interim period			$	5,806		$	5,262

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- Definition

Tabular disclosure of 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.

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