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Restructuring | 6 Months Ended
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Jun. 30, 2025
Restructuring and Related Activities [Abstract] |
Restructuring | Restructuring At MC, restructuring actions were taken in 2025 and 2024 to cease operations at five facilities. For the three month ended June 30, 2025, these actions related to workforce reductions of $3.0 million. For the three month ended June 30, 2024, these actions related to workforce reductions and inventory write-off costs totaling $1.1 million. For the six month ended June 30, 2025, these actions related to workforce reductions, fixed asset impairments and related costs and inventory write-off costs of $6.1 million offset by a $1.8 million pension curtailment gain, For the six month ended June 30, 2024 these actions related to workforce reductions and write-off of inventory of $1.1 million. At AEC, restructuring activities were related to reorganizational and workforce reduction costs, which resulted in restructuring expenses of $0.5 million for the three months ended June 30, 2025 and $0.9 million for the three months ended June 30, 2024. For the six months ended June 30, 2025 and June 30, 2024, restructuring expenses were related to reductions in workforce and totaled $1.7 million and $3.1 million, respectively. The following table summarizes charges reported in the Consolidated Statements of Income under "Restructuring expenses, net":
| Three months ended June 30, | Six months ended June 30,
(in thousands) | 2025 | 2024 | 2025 | 2024
Machine Clothing | $ | 3,015 |  | $ | 1,066 |  | $ | 4,362 |  | $ | 1,087 |
Albany Engineered Composites | 520 |  | 922 |  | 1,688 |  | 3,110 |
Corporate expenses | 648 |  | 115 |  | 648 |  | 115 |
Total | $ | 4,183 |  | $ | 2,103 |  | $ | 6,698 |  | $ | 4,312 |
The following tables summarize charges by type of expense reported in the Consolidated Statements of Income under "Restructuring expenses, net" and "Cost of goods sold":
Six months ended June 30, 2025 | Total restructuring costs incurred | Termination and other costs | Impairment of assets | Pension Curtailment (Gain)/Loss
(in thousands) |  |  |  |
Machine Clothing | $ | 4,362 |  | $ | 5,399 |  | $ | 723 |  | $ | (1,760) |
Albany Engineered Composites | 1,688 |  | 1,688 |  | — |  | — |
Corporate expenses | 648 |  | 648 |  | — |  | — |
Total | $ | 6,698 |  | $ | 7,735 |  | $ | 723 |  | $ | (1,760) |
Six months ended June 30, 2024 | Total restructuring costs incurred | Termination and other costs | Impairment of assets | Pension Curtailment (Gain)/Loss
(in thousands) |  |  |  |
Machine Clothing | $ | 1,605 |  | $ | 1,087 |  | $ | 518 |  | $ | — |
Albany Engineered Composites | 3,110 |  | 3,110 |  | — |  | — |
Corporate expenses | 115 |  | 115 |  | — |  | — |
Total | $ | 4,830 |  | $ | 4,312 |  | $ | 518 |  | $ | — |
The table below presents the year-to-date changes in restructuring liabilities for 2025 and 2024:
(in thousands) | December 31, 2024 | Restructuring charges accrued | Payments and other | June 30, 2025
Total termination and other costs | $ | 4,996 |  | $ | 7,735 |  | $ | (8,185) |  | $ | 4,546 |
(in thousands) | December 31, 2023 | Restructuring charges accrued | Payments and other | June 30, 2024
Total termination and other costs | $ | — |  | $ | 4,312 |  | $ | (1,388) |  | $ | 2,924 |

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- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4.e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479823/420-10-S99-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/420/tableOfContent Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 + Details
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