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Noncontrolling Interests
 9 Months Ended
Sep. 30, 2024
Noncontrolling Interest [Abstract]  
Noncontrolling Interest 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. For the nine months ended September 30, 2024, the net income/(loss) attributable to Arcari’s noncontrolling interest was less than $0.1 million and the noncontrolling interest balance at September 30, 2024 was $0.4 million.
The table below presents a reconciliation of income attributable to the noncontrolling interest and noncontrolling equity in the Company’s subsidiaries:
ASC Noncontrolling InterestNine months ended September 30,
(in thousands, except percentages)20242023
Net income of Albany Safran Composites (ASC)$3,754 $4,929 
Less: Return attributable to the Company's preferred holding850 974 
Net income of ASC available for common ownership$2,904 $3,955 
Ownership percentage of noncontrolling shareholder10 %10 %
Net income attributable to the noncontrolling interest$290 $396 
Noncontrolling interest, beginning of year$5,423 $4,494 
Net income attributable to noncontrolling interest290 396 
Changes in other comprehensive income attributable to the noncontrolling interest(481)317 
ASC Noncontrolling interest, end of interim period
$5,232 $5,207 
Arcari Noncontrolling interest, end of interim period
$447 $1,587 
Total Noncontrolling interest, end of interim period$5,679 $6,794