Noncontrolling Interest

3 Months Ended

Mar. 31, 2022

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)	2022			2021
Net income/(loss) of Albany Safran Composites (ASC)	$	3,702		$	585
Less: Return attributable to the Company's preferred holding	319			318
Net /income/(loss) of ASC available for common ownership	$	3,383		$	267
Ownership percentage of noncontrolling shareholder	10		%	10		%
Net /income/(loss) attributable to the noncontrolling interest	$	338		$	27

Noncontrolling interest, beginning of year	$	3,638		$	3,799
Net income/(loss) attributable to noncontrolling interest	338			27
Changes in other comprehensive income attributable to the noncontrolling interest	56			(210)
Noncontrolling interest, end of interim period	$	4,032		$	3,616