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Noncontrolling Interests

9 Months Ended

Sep. 30, 2025

Noncontrolling Interest [Abstract]

Noncontrolling Interests

Noncontrolling Interests

Effective October 31, 2013, Safran S.A. (Safran) acquired a 10 percent equity interest in Albany Safran Composites, LLC ("ASC").

On August 31, 2023, the Company acquired all the outstanding shares of Heimbach, a privately held manufacturer of paper machine clothing with headquarters in Düren, Germany. In July 2021, Heimbach acquired 85% of Arcari, SRL (“Arcari”). Arcari is a manufacturer of textile and plastic industrial technical products and conveyor belts.

On April 1, 2025, Heimbach sold its 85% controlling interest in Arcari to the minority shareholder and recorded a gain of $1.6 million included in Other (Income) expense on the sale. In connection with the sale, the corresponding value of the non-controlling interest was reduced to zero. The Company did not retain any ownership in Arcari as a result of the sale and accordingly there was no impact on operating results during the third quarter of 2025.

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

ASC Noncontrolling Interest			Nine months ended September 30,
(in thousands, except percentages)			2025			2024
Net income of Albany Safran Composites (ASC)			$	4,857		$	3,754
Less: Return attributable to the Company's preferred holding			1,352			850
Net income of ASC available for common ownership			$	3,505		$	2,904
Ownership percentage of noncontrolling shareholder			10		%	10		%
Net income attributable to the noncontrolling interest			$	351		$	290
Noncontrolling interest, beginning of year			$	4,983		$	5,423
Net income attributable to noncontrolling interest			351			290
Changes in other comprehensive income attributable to the noncontrolling interest			376			(481)
ASC Noncontrolling interest, end of interim period			$	5,709		$	5,232
Arcari Noncontrolling interest, end of interim period			$	0		$	447
Total Noncontrolling interest, end of interim period			$	5,709		$	5,679

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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
-Topic 810
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/810/tableOfContent

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- References

No definition available.

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