Other (Income)/Expense, net

9 Months Ended

Sep. 30, 2014

Other (Income)/Expense, net [Abstract]

Other (Income)/Expense, net

6. Other (Income)/Expenses, net

The components of Other (income)/expenses, net, are:

	Three months ended September 30,					Nine months ended September 30,
(in thousands)	2014			2013		2014			2013
Currency transactions	$	(1,916	)	$	1,975	$	(3,819	)	$	3,879
Bank fees and amortization of debt issuance costs		271			203		868			1,201
Gain on insurance recovery		(165	)		-		(1,126	)		-
Organizational costs related to Albany Safran Composites		-			500		-			500
Other		(54	)		14		(387	)		57
Total	$	(1,864	)	$	2,692	$	(4,464	)	$	5,637

In July 2013, the Company's manufacturing facility in Germany was damaged by severe weather. At that time, the Company expensed the remaining book value of the damaged property, but that value was minimal. The gain recorded in the third quarter of 2014 represented the finalization of the insurance claim.