Noncontrolling Interest

3 Months Ended

Mar. 31, 2021

Effective 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:


	Three months ended March 31,
(in thousands, except percentages)	2021			2020
Net income/(loss) of Albany Safran Composites (ASC)	$	585		$	(14,849)
Less: Return attributable to the Company's preferred holding	318			302
Net /income/(loss) of ASC available for common ownership	$	267		$	(15,151)
Ownership percentage of noncontrolling shareholder	10		%	10		%
Net /income/(loss) attributable to the noncontrolling interest	$	27		$	(1,515)

Noncontrolling interest, beginning of year	$	3,799		$	4,006
Net income/(loss) attributable to noncontrolling interest	27			(1,515)
Changes in other comprehensive income attributable to the noncontrolling interest	(210)			109
Noncontrolling interest, end of interim period	$	3,616		$	2,600