Noncontrolling Interests

6 Months Ended

Jun. 30, 2025

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 second 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	Six months ended June 30,
(in thousands, except percentages)	2025			2024
Net income of Albany Safran Composites (ASC)	$	3,175		$	1,841
Less: Return attributable to the Company's preferred holding	892			589
Net income of ASC available for common ownership	$	2,283		$	1,252
Ownership percentage of noncontrolling shareholder	10		%	10		%
Net income attributable to the noncontrolling interest	$	228		$	125

Noncontrolling interest, beginning of year	$	4,983		$	5,423
Net income attributable to noncontrolling interest	228			125
Changes in other comprehensive income attributable to the noncontrolling interest	286			(304)
ASC Noncontrolling interest, end of interim period	$	5,497		$	5,244












Arcari Noncontrolling interest, end of interim period	$	0		$	562


Total Noncontrolling interest, end of interim period	$	5,497		$	5,806