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<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0in"><b><i>1. Significant Accounting Policies</i></b></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in"><b><i>Basis of Presentation</i></b></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">In the opinion of management, the
accompanying unaudited consolidated financial statements contain all adjustments necessary for a fair presentation of results for
such periods. Albany International Corp. (Albany, the Registrant, the Company, we, us, or our) consolidates the financial results
of its subsidiaries for all periods presented. The results for any interim period are not necessarily indicative of results for
the full year.</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">The preparation of financial statements
in accordance with U.S. generally accepted accounting principles (“GAAP”) requires management to make estimates and
assumptions that affect the amounts reported in Albany International Corp.’s Consolidated Financial Statements and accompanying
Notes. Actual results could differ materially from those estimates.</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">The information included in this
Quarterly Report on Form 10-Q should be read in conjunction with “Risk Factors,” “Legal Proceedings,” “Management’s
Discussion and Analysis of Financial Condition and Results of Operation,” “Quantitative and Qualitative Disclosures
about Market Risk” and the Consolidated Financial Statements and Notes thereto included in Items 1A, 3, 7, 7A and 8, respectively,
of the Albany International Corp. Annual Report on Form 10-K for the year ended December 31, 2018. Certain quarterly results for
2018 contained within this report have been revised to correct immaterial errors, as described in Note 24 of Item 8 in that same
Annual Report on Form 10-K.</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">Effective January 1, 2019, we adopted
the provisions of ASC 842, <i>Leases</i>, using the <font style="font-weight: normal">effective date approach for transition as
discussed in Note 3, Leases</font>. Accounting policies have been applied consistently to periods presented, except for the application
of ASC 842, as further described in Note 3.</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0in"><b><i>4. Pensions and Other Postretirement
Benefit Plans </i></b></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0in"><i>Pension Plans </i></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">The Company has defined benefit
pension plans covering certain U.S. and non-U.S. employees. The U.S. qualified defined benefit pension plan has been closed to
new participants since October 1998, and benefits accrued under this plan have been frozen since February 2009. As a result of
the freeze, employees covered by the pension plan will receive, at retirement, benefits already accrued through February 2009 but
no new benefits accrue after that date. Benefit accruals under the U.S. Supplemental Executive Retirement Plan ("SERP")
were similarly frozen. The eligibility, benefit formulas, and contribution requirements for plans outside of the U.S. vary by location.</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0in"><i>Other Postretirement Benefits </i></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0in; text-indent: 0.5in">The Company also provides certain
postretirement benefits to retired employees in the U.S. and Canada. The Company accrues the cost of providing postretirement benefits
during the active service period of the employees. The Company currently funds the plans as claims are paid.</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in"><font style="font-weight: normal"></font></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">The composition of the net periodic
benefit cost for the three months ended March 31, 2019 and 2018, was as follows:</p>
<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="border-top: Black 1pt solid; text-align: right; text-indent: 0in"> </td>
<td style="border-top: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Pension plans</b></font></td>
<td style="border-top: Black 1pt solid; text-align: center; text-indent: 0in"> </td>
<td colspan="2" style="border-top: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Other postretirement benefits</b></font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in; width: 50%"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>(in thousands)</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; width: 13%"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>2019</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; width: 12%"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>2018</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; width: 13%"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>2019</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; width: 12%"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>2018</b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Components of net periodic benefit cost:</font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Service cost</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$632 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$699 </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$47 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$58 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Interest cost</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  1,794 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  1,820 </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>   528 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  507 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Expected return on assets</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  (2,057)</b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  (2,247)</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  - </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  - </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Amortization of prior service cost/(credit)</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>   17 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   8 </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  (1,122)</b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  (1,122)</font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Amortization of net actuarial loss</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>   564 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  558 </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>   557 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  739 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Net periodic benefit cost</font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$950 </b></font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$838 </font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$10 </b></font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$182</font></td></tr>
</table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in"><b> </b></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">Service cost for defined benefit
pension and postretirement plans are reported in the same line item or items as other compensation costs arising from services
rendered by the pertinent employees during the period. Other components of net periodic benefit cost are presented in the income
statement separately from the service cost component and outside a subtotal of income from operations, in the line item Other (income)/expense,
net in the Consolidated Statements of Income.</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 0in"><b><i>6. Other (Income)/Expense, net </i></b></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 0in"><b><i> </i></b></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">The components of Other (Income)/Expense,
net are:</p>
<table cellspacing="0" cellpadding="0" style="width: 90%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="border-top: Black 1pt solid; text-align: right; text-indent: 0in"> </td>
<td colspan="2" style="border-top: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Three months ended  March 31,</b></font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in; width: 62%"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>(in thousands)  </b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; width: 19%"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>2019</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; width: 19%"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>2018</b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Currency transaction (gains)/losses</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>($2,038)</b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$690 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Bank fees and amortization of debt issuance costs</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  109 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   108 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Components of net periodic pension and postretirement cost other than service</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  281 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  263 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Other  </font></td>
<td style="text-align: right; text-indent: 0in; border-bottom: Black 1pt solid"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  440 </b></font></td>
<td style="text-align: right; text-indent: 0in; border-bottom: Black 1pt solid"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   391 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Total  </font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>($1,208)</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$1,452</font></td></tr></table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0in; text-indent: 0in"><b><i>7. Income Taxes</i></b></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 0in"><b><i> </i></b></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-align: justify; text-indent: 0.5in">The following
table presents components of income tax expense for the three months ended March 31, 2019 and 2018:<b><i> </i></b></p>
<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<tr style="vertical-align: top; background-color: white">
<td style="text-align: right; text-indent: 0in; border-top: Black 1px solid"> </td>
<td style="text-align: right; text-indent: 0in; border-top: Black 1px solid"> </td>
<td style="text-align: right; text-indent: 0in; border-top: Black 1px solid"> </td>
<td style="text-align: right; text-indent: 0in; border-top: Black 1px solid"> </td>
<td colspan="2" style="text-align: center; text-indent: 0in; border-top: Black 1px solid"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Three months ended</b></font></td></tr>
<tr style="vertical-align: top; background-color: white">
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td colspan="2" style="text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>March 31,</b></font></td></tr>
<tr style="vertical-align: top; background-color: white">
<td colspan="4" style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>(in thousands, except percentages)</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>2019</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">2018</font></td></tr>
<tr style="vertical-align: top; background-color: white">
<td colspan="4" style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Income tax based on income from continuing operations, at estimated tax </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top; background-color: white">
<td colspan="4" style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">rates of 29.4% and 32.5%, respectively</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$10,847</b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$3,656</font></td></tr>
<tr style="vertical-align: top; background-color: white">
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; width: 11%"> </td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; width: 11%"> </td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; width: 11%"> </td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; width: 43%"> </td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; width: 12%"> </td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; width: 12%"> </td></tr>
<tr style="vertical-align: top; background-color: white">
<td colspan="3" style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Income tax before discrete items</font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  10,847 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  3,656 </font></td></tr>
<tr style="vertical-align: top; background-color: white">
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top; background-color: white">
<td colspan="2" style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Discrete tax expense:</font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top; background-color: white">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top; background-color: white">
<td colspan="3" style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Exercise of U.S. stock options</font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  (50)</b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  (123)</font></td></tr>
<tr style="vertical-align: top; background-color: white">
<td colspan="4" style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Adjustments to prior period tax liabilities</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  194 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  (46)</font></td></tr>
<tr style="vertical-align: top; background-color: white">
<td colspan="4" style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Provision for resolution of tax audits and contingencies, net</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  (2,232)</b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   5 </font></td></tr>
<tr style="vertical-align: top">
<td colspan="4" style="background-color: white; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Adjustment related to prior period change in opening valuation allowance</font></td>
<td style="background-color: white; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  (1,346)</b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   - </font></td></tr>
<tr style="vertical-align: top; background-color: white">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Other</font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  63 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  (127)</font></td></tr>
<tr style="vertical-align: top; background-color: white">
<td colspan="3" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Total income tax expense</font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"> </td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$7,476</b></font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$3,365</font></td></tr>
</table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 40.5pt; text-align: justify; text-indent: 0in"> </p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-align: justify; text-indent: 0.5in">The first-quarter
estimated annual effective tax rate on continuing operations was 29.4 percent in 2019, compared to 32.5 percent for the same period
in 2018.</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-align: justify; text-indent: 0.5in">Income tax
expense for the quarter was computed in accordance with ASC 740-270 “Income Taxes – Interim Reporting”. Under
this method, loss jurisdictions, which cannot recognize a tax benefit with regard to their generated losses, are excluded from
the annual effective tax rate (AETR) calculation and their taxes will be recorded discretely in each quarter.</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-align: justify; text-indent: 0.5in">The Company’s
tax rate is affected by recurring items such as the income tax rate in the U.S. and in non-U.S. jurisdictions and the mix of income
earned in those jurisdictions, including changes in losses and income from excluded loss jurisdictions, and the impact of discrete
items in the respective quarter.</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0in; text-indent: 0.5in">The Company records the residual
U.S. and foreign taxes on certain amounts of foreign earnings that have been targeted for repatriation to the U.S. These amounts
are not considered to be indefinitely reinvested, and the Company accrued for the tax cost on these earnings to the extent they
cannot be repatriated in a tax-free manner. The Company has targeted for repatriation $159.2 million of current year and prior
year earnings of the Company’s foreign operations. If these earnings were distributed, the Company would be subject to foreign
withholding taxes of $4.1 million and state income taxes of $3.3 million which have already been recorded.</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in"><font style="font-weight: normal"></font></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-align: justify; text-indent: 0.5in">The Company
conducts business globally and, as a result, files income tax returns in the U.S. federal jurisdiction and various state and foreign
jurisdictions. In the normal course of business the Company is subject to examination by taxing authorities throughout the world,
including major jurisdictions such as the United States, Brazil, Canada, France, Germany, Italy, Mexico, and Switzerland. The open
tax years in these jurisdictions range from 2007 to 2019. The Company is currently under audit in non-U.S. tax jurisdictions, including
but not limited to Italy.</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-align: justify; text-indent: 0.5in">In the first
quarter of 2019, the Company recorded a net benefit of $2.2 million for tax audit settlements with Canada. The Canadian Revenue
Agency agreed to accept the Company’s appeal of all protested issues. The Company has begun to receive refunds from the Canadian
Revenue Agency and Ontario for taxes that were pre-paid at the time of protests. As such, the Company determined that it is more
likely than not that the liability for unrecognized tax benefits of $2.2 million that was recorded as of December 31, 2018 was
no longer warranted and thus it was reduced in the first quarter of 2019, resulting in a $2.2 million discrete tax benefit.</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-align: justify; text-indent: 0.5in">As of each
reporting date, management considers new evidence, both positive and negative, that could affect its view of the future realization
of deferred tax assets. There was no evidence obtained during the first quarter 2019 that would require the Company to make any
changes to its view of the future realization of deferred tax assets. In the first quarter of 2019, the Company recorded a $1.3
million out-of-period immaterial adjustment related to a German tax valuation allowance.</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 0"><b><i>8. Earnings Per Share</i></b></p>
<p style="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">The amounts used in computing earnings
per share and the weighted average number of shares of potentially dilutive securities are as follows:</p>
<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="border-top: Black 1pt solid; text-align: right; text-indent: 0in"> </td>
<td colspan="2" style="border-top: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Three months ended<br />
March 31,</b></font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in; width: 70%"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>(in thousands, except market price and earnings per share)</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; width: 15%"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>2019</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; width: 15%"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>2018</b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in; font-size: 8pt"> </td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Net income attributable to the Company</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$29,190 </b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$7,662 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Weighted average number of shares:</b></font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Weighted average number of shares used in</font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">calculating basic net income per share</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  32,272 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  32,220 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Effect of dilutive stock-based compensation plans:</b></font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Stock options</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>   13 </b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   16 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Weighted average number of shares used in</font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">calculating diluted net income per share</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  32,285 </b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  32,236 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Average market price of common stock used</font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">for calculation of dilutive shares</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$71.24 </b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$63.86 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Net income attributable to the Company per share:</b></font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Basic</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$0.90 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$0.24 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Diluted</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$0.90 </b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$0.24</font></td></tr></table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt; text-indent: 0"><b><i>10. Noncontrolling Interest</i></b></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">Effective October 31, 2013, Safran
S.A. (Safran) acquired a 10 percent equity interest in a new Albany subsidiary, Albany Safran Composites, LLC (ASC). Under the
terms of the transaction agreements, ASC is the exclusive supplier to Safran of advanced 3D-woven composite parts for use in aircraft
and rocket engines, thrust reversers and nacelles, and aircraft landing and braking systems (the “Safran Applications”).
AEC may develop and supply parts other than advanced 3D-woven composite parts for all aerospace applications, as well as advanced
3D-woven composite parts for any aerospace applications that are not Safran Applications (such as airframe applications) and any
non-aerospace applications.</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">The agreement provides Safran an
option to purchase Albany’s remaining 90 percent interest upon the occurrence of certain bankruptcy or performance default
events, or if Albany’s Engineered Composites business is sold to a direct competitor of Safran. The purchase price is based
initially on the same valuation of ASC used to determine Safran’s 10 percent equity interest, and increases over time as
LEAP production increases.</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0in; text-indent: 0.5in">In accordance with the operating
agreement, Albany received a $28 million preferred holding in ASC which includes a preferred return based on the Company’s
revolving credit agreement. The common shares of ASC are owned 90 percent by Albany and 10 percent by Safran.</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in"><font style="font-weight: normal"></font></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">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:</p>
<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td colspan="2" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Three months ended <br />
March 31,</b></font></td></tr>
<tr style="vertical-align: top">
<td style="width: 74%; border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>(in thousands)</b></font></td>
<td style="width: 14%; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>2019</b></font></td>
<td style="width: 12%; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>2018</b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Net income of Albany Safran Composites (ASC)</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b> $2,510 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"> $2,681 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Less: Return attributable to the Company's preferred holding</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  328 </b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  312 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Net income of ASC available for common ownership</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b> $2,182 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"> $2,369 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Ownership percentage of noncontrolling shareholder</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>10%</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">10%</font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Net income attributable to noncontrolling interest</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b> $218 </b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"> $237 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Noncontrolling interest, beginning of year</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b> $3,031 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"> $3,247 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Decrease attributable to 2018 adoption of ASC 606</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>   - </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  (327)</font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Net income attributable to noncontrolling interest</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  218 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   237 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Changes in other comprehensive income attributable to noncontrolling interest</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>   (8)</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  (7)</font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Noncontrolling interest</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b> $3,241 </b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"> $3,150 </font></td></tr></table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0in"><b><i>11. Accounts Receivable</i></b></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">Accounts receivable includes trade
receivables.</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">In connection with certain sales
in Asia, the Company accepts a bank promissory note as customer payment. The notes may be presented for payment at maturity, which
is less than one year.</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">The Company also maintains allowances
for doubtful accounts for estimated losses resulting from the inability of its customers to make required payments. The Company
determines the allowance based on historical write-off experience, customer-specific facts and economic conditions. If the financial
condition of the Company’s customers were to deteriorate, resulting in an impairment of their ability to make payments, additional
allowances may be required.</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">As of March 31, 2019 and December
31, 2018, Accounts receivable consisted of the following:</p>
<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="width: 66%; border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; text-indent: 0in; text-align: left; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>(in thousands)  </b></font></td>
<td style="width: 17%; border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; padding-right: 1.5pt; padding-left: 1.5pt">
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; text-align: center"><b>March 31,</b></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; text-align: center"><b>2019</b></p></td>
<td style="width: 17%; border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; padding-right: 1.5pt; padding-left: 1.5pt">
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; text-align: center"><b>December 31,</b></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; text-align: center"><b>2018</b></p></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Trade and other accounts receivable</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$223,717 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$211,244 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Bank promissory notes</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>18,332 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">19,269 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Allowance for doubtful accounts</font></td>
<td style="text-align: right; text-indent: 0in; border-bottom: Black 1pt solid"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  (7,922)</b></font></td>
<td style="text-align: right; text-indent: 0in; border-bottom: Black 1pt solid"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  (7,337)</font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Accounts receivable, net</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$234,127 </b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$223,176 </font></td></tr>
</table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0in"> </p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0in; text-indent: 0in">The Company has Noncurrent receivables
in the AEC segment that represent revenue earned which has extended payment terms. The Noncurrent receivables will be invoiced
to the customer, with 2% interest, over a 10-year period starting in 2020.</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in"><font style="font-weight: normal"></font></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">As of March 31, 2019 and December
31, 2018, Noncurrent receivables consisted of the following:</p>
<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-indent: 0in; text-align: left; vertical-align: bottom; width: 66%"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>(in thousands)  </b></font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 1.5pt; padding-left: 1.5pt; width: 17%">
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; text-align: center"><b>March 31,</b></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; text-align: center"><b>2019</b></p></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 1.5pt; padding-left: 1.5pt; width: 17%">
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; text-align: center"><b>December 31,</b></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; text-align: center"><b>2018</b></p></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Noncurrent receivables</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$45,354 </b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$45,061</font></td></tr></table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0in"><b><i>13. Inventories </i></b></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0in; text-indent: 0.5in">Costs included in inventories are
raw materials, labor, supplies and allocable depreciation and overhead. Raw material inventories are valued on an average cost
basis. Other inventory cost elements are valued at cost, using the first-in, first-out method. The Company writes down the inventories
for estimated obsolescence, and to lower of cost or net realizable value based upon assumptions about future demand and market
conditions. If actual demand or market conditions are less favorable than those projected by the Company, additional inventory
write-downs may be required. Once established, the original cost of the inventory less the related write-down represents the new
cost basis of such inventories.</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in"><font style="font-weight: normal"></font></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">As of March 31, 2019 and December
31, 2018, Inventories consisted of the following:</p>
<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="width: 60%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>(in thousands)  </b></font></td>
<td style="width: 18%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>March 31, <br />
2019</b></font></td>
<td style="width: 22%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>December 31, <br />
2018</b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Raw materials</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$47,820 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$40,489 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Work in process</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  37,582 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   33,181 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Finished goods</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  16,977 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  12,234 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Total inventories</font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$102,379 </b></font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$85,904</font></td></tr></table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 0"><b><i>15. Financial Instruments </i></b></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 0in"><b><i> </i></b></p>
<p style="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0">Long-term debt, principally to
banks and noteholders, consists of:</p>
<table cellspacing="0" cellpadding="0" style="width: 93%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse; margin-left: 0.5in">
<tr style="vertical-align: top">
<td style="width: 55%; border-bottom: Black 1pt solid; text-indent: 0in; text-align: left; vertical-align: bottom; border-top: Black 1px solid"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>(in thousands, except interest rates)</b></font></td>
<td style="width: 4%; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; border-top: Black 1px solid"> </td>
<td style="width: 17%; border-bottom: Black 1pt solid; text-align: center; vertical-align: bottom; border-top: Black 1px solid"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>March 31, <br />
2019</b></font></td>
<td style="width: 24%; border-bottom: Black 1pt solid; text-align: center; vertical-align: bottom; border-top: Black 1px solid"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>December 31, 2018</b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"> </td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"> </td></tr>
<tr style="vertical-align: top">
<td colspan="2" style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Revolving credit agreement with borrowings outstanding at an end of period interest rate of 3.61% in 2019 and 3.69% in 2018 (including the effect of interest rate hedging transactions, as described below), due in 2022</font></td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b> $491,000 </b></font></td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"> $499,000 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"> </td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Finance obligation</font></td>
<td style="text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>-</b></font></td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">25,886</font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"> </td>
<td style="text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"> </td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"> </td></tr>
<tr style="vertical-align: top">
<td colspan="2" style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Other debt, at an average end of period rate of 5.50% in both 2019 and 2018, due in varying amounts through 2021</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>41</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">45</font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"> </td>
<td style="text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"> </td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Long-term debt</font></td>
<td style="text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>491,041</b></font></td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">524,931</font></td></tr>
<tr style="vertical-align: top">
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"> </td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"> </td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Less: current portion</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"> </td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>(19)</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">(1,224)</font></td></tr>
<tr style="vertical-align: top">
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"> </td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"> </td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Long-term debt, net of current portion</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"> </td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$491,022</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$523,707</font></td></tr>
</table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in"> </p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0in; text-indent: 0.5in">On November 7, 2017, we entered
into a $685 million unsecured Five-Year Revolving Credit Facility Agreement (the “Credit Agreement”) which amended
and restated the prior $550 million Agreement, entered into on April 8, 2016 (the “Prior Agreement”). Under the Credit
Agreement, $491 million of borrowings were outstanding
as of March 31, 2019. The applicable interest rate for borrowings was LIBOR plus a spread, based on our leverage ratio at the time
of borrowing. At the time of the last borrowing on March 18, 2019, the spread was 1.375%. The spread was based on a pricing grid,
which ranged from 1.250% to 1.750%, based on our leverage ratio. Based on our maximum leverage ratio and our Consolidated EBITDA,
and without modification to any other credit agreements, as of March 31, 2019, we would have been able to borrow an additional
$194 million under the Agreement.</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0in; text-indent: 0.5in"> </p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">The Credit Agreement contains customary
terms, as well as affirmative covenants, negative covenants and events of default that are comparable to those in the Prior Agreement.
The Borrowings are guaranteed by certain of the Company’s subsidiaries.</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">Our ability to borrow additional
amounts under the Credit Agreement is conditional upon the absence of any defaults, as well as the absence of any material adverse
change (as defined in the Credit Agreement).</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">Due to the implementation of ASC
842, <i>Leases, </i>on January 1, 2019, as further described in Note 3 the finance obligation that had a balance of $25.9 million
as of December 31, 2018, was eliminated and replaced with a finance lease obligation that is included in Other noncurrent liabilities
and Accrued liabilities.</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">On November 27, 2017, we terminated
our interest rate swap agreements, originally entered into on May 9, 2016, that had effectively fixed the interest rate on $300
million of revolving credit borrowings, in order to enter into a new interest rate swap with a greater notional amount, and the
same maturity as the Credit Agreement. We received $6.3 million when the swap agreements were terminated and that payment will
be amortized into interest expense through March 2021.</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">On May 6, 2016, we terminated other
interest rate swap agreements that had effectively fixed the interest rate on $120 million of revolving credit borrowings, in order
to enter into a new interest rate swap with a greater notional amount, and the same maturity as the Credit Agreement. We paid $5.2
million to terminate the swap agreements and that cost will be amortized into interest expense through June 2020.</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">On November 28, 2017, we entered
into interest rate swap agreements for the period December 18, 2017 through October 17, 2022. These transactions have the effect
of fixing the LIBOR portion of the effective interest rate (before addition of the spread) on $350 million of indebtedness drawn
under the Credit Agreement at the rate of 2.11% during the period. Under the terms of these transactions, we pay the fixed rate
of 2.11% and the counterparties pay a floating rate based on the one-month LIBOR rate at each monthly calculation date, which on
March 18, 2019 was 2.49%, during the swap period. On March 18, 2019, the all-in-rate on the $350 million of debt was 3.61%.</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">These interest rate swaps are accounted
for as a hedge of future cash flows, as further described in Note 16. No cash collateral was received or pledged in relation to
the swap agreements.</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">Under the Credit Agreement, we are
currently required to maintain a leverage ratio (as defined in the agreement) of not greater than 3.75 to 1.00 for each fiscal
quarter ending prior to (but not including) September 30, 2019, and 3.50 to 1.00 for each fiscal quarter ending on or after September
30, 2019, and minimum interest coverage (as defined) of 3.00 to 1.00.</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0in; text-indent: 0.5in">As of March 31, 2019, our leverage
ratio was 1.79 to 1.00 and our interest coverage ratio was 12.08 to 1.00. We may purchase our Common Stock or pay dividends to
the extent our leverage ratio remains at or below 3.50 to 1.00, and may make acquisitions with cash provided our leverage ratio
does not exceed the limits noted above.</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in"><font style="font-weight: normal"></font></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">Indebtedness under the Credit Agreement
is ranked equally in right of payment to all unsecured senior debt.</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">We were in compliance with all debt
covenants as of March 31, 2019.</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt; text-indent: 0in"><b><i>16. Fair-Value Measurements</i></b></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">Fair value is defined as the exchange
price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous
market for the asset or liability in an orderly transaction between market participants at the measurement date. Accounting principles
establish a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use
of unobservable inputs by requiring that the most observable inputs be used when available. Level 3 inputs are unobservable data
points for the asset or liability, and include situations in which there is little, if any, market activity for the asset or liability.
We had no Level 3 financial assets or liabilities at March 31, 2019, or at December 31, 2018.</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 6pt 0in; text-indent: 0.5in">The following table presents the
fair-value hierarchy for our Level 1 and Level 2 financial and non-financial assets and liabilities, which are measured at fair
value on a recurring basis:</p>
<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="border-top: Black 1pt solid; text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="border-top: Black 1pt solid; text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td colspan="4" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; font-size: 11pt"><b>March 31, 2019</b></td>
<td style="border-top: Black 1pt solid; text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td colspan="4" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; font-size: 11pt"><b>December 31, 2018</b></td></tr>
<tr style="vertical-align: top">
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td colspan="2" style="text-align: center; text-indent: 0in; font-size: 8pt; vertical-align: bottom"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>Quoted<br />
prices in<br />
active <br />
markets</b></font></td>
<td colspan="3" style="text-align: center; text-indent: 0in; font-size: 8pt; vertical-align: bottom"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>Significant<br />
other <br />
observable <br />
inputs</b></font></td>
<td colspan="2" style="text-align: center; text-indent: 0in; font-size: 8pt; vertical-align: bottom"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>Quoted<br />
prices in<br />
active<br />
markets</b></font></td>
<td colspan="2" style="text-align: center; text-indent: 0in; font-size: 8pt; vertical-align: bottom"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>Significant<br />
other<br />
observable<br />
inputs</b></font></td></tr>
<tr style="vertical-align: top">
<td style="width: 44%; text-align: right; text-indent: 0in"> </td>
<td style="width: 1%; text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="width: 11%; text-align: center; text-indent: 0in; font-size: 8pt"> </td>
<td style="width: 3%; text-align: center; text-indent: 0in; font-size: 8pt"> </td>
<td style="width: 11%; text-align: center; text-indent: 0in; font-size: 8pt"> </td>
<td style="width: 2%; text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="width: 3%; text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="width: 10%; text-align: center; text-indent: 0in; font-size: 8pt"> </td>
<td style="width: 2%; text-align: center; text-indent: 0in; font-size: 8pt"> </td>
<td style="width: 11%; text-align: center; text-indent: 0in; font-size: 8pt"> </td>
<td style="width: 2%; text-align: center; text-indent: 0in; font-size: 8pt"> </td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>(in thousands)</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; font-size: 8pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>(Level 1)</b></font></td>
<td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; font-size: 8pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>(Level 2)</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; font-size: 8pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>(Level 1)</b></font></td>
<td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; font-size: 8pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>(Level 2)</b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Fair Value</b></font></td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="text-align: center; text-indent: 0in; font-size: 9pt"> </td>
<td style="text-align: center; text-indent: 0in; font-size: 9pt"> </td>
<td style="text-align: center; text-indent: 0in; font-size: 9pt"> </td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="text-align: center; text-indent: 0in; font-size: 9pt"> </td>
<td style="text-align: center; text-indent: 0in; font-size: 9pt"> </td>
<td style="text-align: center; text-indent: 0in; font-size: 9pt"> </td>
<td style="text-align: center; text-indent: 0in; font-size: 9pt"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><i>Assets:</i></font></td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="text-align: center; text-indent: 0in"> </td>
<td style="text-align: center; text-indent: 0in"> </td>
<td style="text-align: center; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="text-align: center; text-indent: 0in"> </td>
<td style="text-align: center; text-indent: 0in"> </td>
<td style="text-align: center; text-indent: 0in"> </td>
<td style="text-align: center; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Cash equivalents</font></td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"> $13,897 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"> $- </font></td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"> $14,234 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"> $- </font></td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><i>Other Assets:</i></font></td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Common stock of unaffiliated foreign public company (a)</font></td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   743 </font></td>
<td style="text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    -  </font></td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  731 </font></td>
<td style="text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    -  </font></td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in; padding-left: 20pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Interest rate swaps</font></td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    -  </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   822 </font></td>
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><sup>(b) </sup></font></td>
<td style="text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  -  </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   4,548 </font></td>
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><sup>(c) </sup></font></td></tr>
<tr style="vertical-align: top">
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1.5pt solid; text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: right; text-indent: 0in; font-size: 11pt"> </td></tr>
<tr style="vertical-align: top">
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td></tr>
</table>
<table cellpadding="0" cellspacing="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt"><tr style="vertical-align: top">
<td style="width: 0pt; padding-bottom: 8pt"></td>
<td style="width: 13%; padding-bottom: 8pt"> </td><td style="width: 0.25in; text-align: left; padding-bottom: 8pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif">(a)</font></td><td style="padding-bottom: 8pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif">Original
cost basis $0.5 million.</font></td>
</tr>
<tr style="vertical-align: top">
<td style="padding-bottom: 8pt"></td>
<td style="padding-bottom: 8pt"> </td><td style="text-align: left; padding-bottom: 8pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif">(b)</font></td><td style="padding-bottom: 8pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif">Net
of $26.7 million receivable floating leg and $25.9 million liability fixed leg.</font></td>
</tr>
<tr style="vertical-align: top">
<td style="padding-bottom: 8pt"></td>
<td style="padding-bottom: 8pt"> </td><td style="text-align: left; padding-bottom: 8pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif">(c)</font></td><td style="padding-bottom: 8pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif">Net
of $32.0 million receivable floating leg and $27.5 million liability fixed leg.</font></td>
</tr></table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">Cash equivalents include short-term
securities that are considered to be highly liquid and easily tradable. These securities are valued using inputs observable in
active markets for identical securities.</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">The common stock of the unaffiliated
foreign public company is traded in an active market exchange. The shares are measured at fair value using closing stock prices
and are recorded in the Consolidated Balance Sheets as Other assets. Changes in the fair value of the investment are reported in
the Consolidated Statements of Income.</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0in; text-indent: 0.5in">We operate our business in many
regions of the world, and currency rate movements can have a significant effect on operating results. Foreign currency instruments
are entered into periodically, and consist of foreign currency option contracts and forward contracts that are valued using quoted
prices in active markets obtained from independent pricing sources. These instruments are measured using market foreign exchange
prices and are recorded in the Consolidated Balance Sheets as Other current assets and
Accounts payable, as applicable. Changes in fair value of these instruments are recorded as gains or losses within Other (income)/expense,
net.</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0in; text-indent: 0.5in"> </p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">When exercised, the foreign currency
instruments are net settled with the same financial institution that bought or sold them. For all positions, whether options or
forward contracts, there is risk from the possible inability of the financial institution to meet the terms of the contracts and
the risk of unfavorable changes in interest and currency rates, which may reduce the value of the instruments. We seek to mitigate
risk by evaluating the creditworthiness of counterparties and by monitoring the currency exchange and interest rate markets while
reviewing the hedging risks and contracts to ensure compliance with our internal guidelines and policies.</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">Changes in exchange rates can result
in revaluation gains and losses that are recorded in Selling, general and administrative expenses or Other (income)/expense, net.
Revaluation gains and losses occur when our business units have cash, intercompany (recorded in Other (income)/expense, net) or
third-party trade (recorded in selling, general and administrative expenses) receivable or payable balances in a currency other
than their local reporting (or functional) currency.</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">Operating results can also be affected
by the translation of sales and costs, for each non-U.S. subsidiary, from the local functional currency to the U.S. dollar. The
translation effect on the Consolidated Statements of Income is dependent on our net income or expense position in each non-U.S.
currency in which we do business. A net income position exists when sales realized in a particular currency exceed expenses paid
in that currency; a net expense position exists if the opposite is true.</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">The interest rate swaps are accounted
for as hedges of future cash flows. The fair value of our interest rate swaps are derived from a discounted cash flow analysis
based on the terms of the contract and the interest rate curve, and is included in Other assets and/or Other noncurrent liabilities
in the Consolidated Balance Sheets. Unrealized gains and losses on the swaps flow through the caption Derivative valuation adjustment
in the Shareholders’ equity section of the Consolidated Balance Sheets. As of March 31, 2019, these interest rate swaps were
determined to be highly effective hedges of interest rate cash flow risk. Amounts accumulated in Other comprehensive income are
reclassified as Interest expense, net when the related interest payments (that is, the hedged forecasted transactions), and amortization
related to the swap buyouts, affect earnings. Interest expense related to payments under the active swap agreements totaled ($0.3)
million for the three month period ended March 31, 2019, and $0.5 million for the three month period ended March 31, 2018. Additionally,
non-cash interest income related to the amortization of swap buyouts totaled $0.1 million for the three month period ended March
31, 2019 and $0.2 million for the three month period ended March 31, 2018.</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 12pt 0 0 0in; text-indent: 0.5in">Gains/(losses) related to changes
in fair value of derivative instruments that were recognized in Other (income)/expense, net in the Consolidated Statements of Income
were as follows:</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 12pt 0 0 0in; text-indent: 0.5in"> </p>
<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="border-top: Black 1pt solid; text-align: right; text-indent: 0in"> </td>
<td colspan="2" style="border-top: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Three months <br />
ended  March 31,</b></font></td></tr>
<tr style="vertical-align: top">
<td style="width: 68%; border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>(in thousands)</b></font></td>
<td style="width: 17%; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>2019</b></font></td>
<td style="width: 15%; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>2018</b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: center; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Derivatives not designated as hedging instruments</font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Foreign currency options (losses)</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b> $ -  </b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">($37)</font></td></tr>
</table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0in"><b><i>17. Contingencies </i></b></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0in"><b>Asbestos Litigation</b></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">Albany International Corp. is a
defendant in suits brought in various courts in the United States by plaintiffs who allege that they have suffered personal injury
as a result of exposure to asbestos-containing paper machine clothing synthetic dryer fabrics marketed during the period from 1967
to 1976 and used in certain paper mills.</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">We were defending 3,688 claims as
of March 31, 2019.</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">The following table sets forth the
number of claims filed, the number of claims settled, dismissed or otherwise resolved, and the aggregate settlement amount during
the periods presented:</p>
<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="width: 24%; border-top: Black 1.5pt solid; border-right: Black 1pt solid; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; text-align: center; text-indent: 0in; vertical-align: bottom; white-space: nowrap"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Year ended December 31,</b></font></td>
<td style="width: 14%; border-top: Black 1.5pt solid; border-right: Black 1pt solid; border-bottom: Black 1.5pt solid; text-align: center; text-indent: 0in; vertical-align: bottom; white-space: nowrap"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Opening Number <br />
of Claims</b></font></td>
<td style="width: 16%; border-top: Black 1.5pt solid; border-right: Black 1pt solid; border-bottom: Black 1.5pt solid; text-align: center; text-indent: 0in; vertical-align: bottom; white-space: nowrap"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Claims<br />
Dismissed,Settled,<br />
or Resolved</b></font></td>
<td style="width: 16%; border-top: Black 1.5pt solid; border-right: Black 1pt solid; border-bottom: Black 1.5pt solid; text-align: center; text-indent: 0in; vertical-align: bottom; white-space: nowrap"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>New Claims</b></font></td>
<td style="width: 14%; border-top: Black 1.5pt solid; border-right: Black 1pt solid; border-bottom: Black 1.5pt solid; text-align: center; text-indent: 0in; vertical-align: bottom; white-space: nowrap"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Closing Number<br />
of Claims</b></font></td>
<td style="width: 16%; border-top: Black 1.5pt solid; border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; text-align: center; text-indent: 0in; vertical-align: bottom; white-space: nowrap"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Amounts Paid<br />
(thousands) to<br />
Settle or Resolve</b></font></td></tr>
<tr style="vertical-align: top">
<td style="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; border-left: black 2.25pt solid; text-align: right; text-indent: 0in; padding-right: 3pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">2014</font></td>
<td style="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; text-align: right; text-indent: 0in; padding-right: 3pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  4,299 </font></td>
<td style="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; text-align: right; text-indent: 0in; padding-right: 3pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  625 </font></td>
<td style="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; text-align: right; text-indent: 0in; padding-right: 3pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   147 </font></td>
<td style="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; text-align: right; text-indent: 0in; padding-right: 3pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  3,821 </font></td>
<td style="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; text-align: right; text-indent: 0in; padding-right: 3pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   $437 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; border-left: black 2.25pt solid; text-align: right; text-indent: 0in; padding-right: 3pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">2015</font></td>
<td style="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; text-align: right; text-indent: 0in; padding-right: 3pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  3,821 </font></td>
<td style="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; text-align: right; text-indent: 0in; padding-right: 3pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  116 </font></td>
<td style="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; text-align: right; text-indent: 0in; padding-right: 3pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  86 </font></td>
<td style="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; text-align: right; text-indent: 0in; padding-right: 3pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  3,791 </font></td>
<td style="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; text-align: right; text-indent: 0in; padding-right: 3pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   164 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; border-left: black 2.25pt solid; text-align: right; text-indent: 0in; padding-right: 3pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">2016</font></td>
<td style="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; text-align: right; text-indent: 0in; padding-right: 3pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  3,791 </font></td>
<td style="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; text-align: right; text-indent: 0in; padding-right: 3pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  148 </font></td>
<td style="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; text-align: right; text-indent: 0in; padding-right: 3pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   102 </font></td>
<td style="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; text-align: right; text-indent: 0in; padding-right: 3pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  3,745 </font></td>
<td style="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; text-align: right; text-indent: 0in; padding-right: 3pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   758 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; border-left: black 2.25pt solid; text-align: right; text-indent: 0in; padding-right: 3pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">2017</font></td>
<td style="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; text-align: right; text-indent: 0in; padding-right: 3pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  3,745 </font></td>
<td style="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; text-align: right; text-indent: 0in; padding-right: 3pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   105 </font></td>
<td style="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; text-align: right; text-indent: 0in; padding-right: 3pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  90 </font></td>
<td style="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; text-align: right; text-indent: 0in; padding-right: 3pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  3,730 </font></td>
<td style="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; text-align: right; text-indent: 0in; padding-right: 3pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">55</font></td></tr>
<tr style="vertical-align: top">
<td style="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; border-left: black 2.25pt solid; text-align: right; text-indent: 0in; padding-right: 3pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">2018</font></td>
<td style="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; text-align: right; text-indent: 0in; padding-right: 3pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  3,730 </font></td>
<td style="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; text-align: right; text-indent: 0in; padding-right: 3pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   152 </font></td>
<td style="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; text-align: right; text-indent: 0in; padding-right: 3pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  106 </font></td>
<td style="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; text-align: right; text-indent: 0in; padding-right: 3pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  3,684 </font></td>
<td style="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; text-align: right; text-indent: 0in; padding-right: 3pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">100</font></td></tr>
<tr style="vertical-align: top">
<td style="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; border-left: black 2.25pt solid; text-indent: 0in; font-size: 9pt; padding-right: 3pt"><font style="font: 9pt Arial, Helvetica, Sans-Serif"><b>2019 (as of March 31)</b></font></td>
<td style="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; text-align: right; text-indent: 0in; padding-right: 3pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>3,684</b></font></td>
<td style="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; text-align: right; text-indent: 0in; padding-right: 3pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>13</b></font></td>
<td style="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; text-align: right; text-indent: 0in; padding-right: 3pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>17</b></font></td>
<td style="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; text-align: right; text-indent: 0in; padding-right: 3pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>3,688</b></font></td>
<td style="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; text-align: right; text-indent: 0in; padding-right: 3pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$-</b></font></td></tr>
</table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0in"> </p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">We anticipate that additional claims
will be filed against the Company and related companies in the future, but are unable to predict the number and timing of such
future claims. Due to the fact that information sufficient to meaningfully estimate a range of possible loss of a particular claim
is typically not available until late in the discovery process, we do not believe a meaningful estimate can be made regarding the
range of possible loss with respect to pending or future claims and therefore are unable to estimate a range of reasonably possible
loss in excess of amounts already accrued for pending or future claims.</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">While we believe we have meritorious
defenses to these claims, we have settled certain claims for amounts we consider reasonable given the facts and circumstances of
each case. Our insurance carrier has defended each case and funded settlements under a standard reservation of rights. As of March
31, 2019 we had resolved, by means of settlement or dismissal, 37,759 claims. The total cost of resolving all claims was $10.3
million. Of this amount, almost 100% was paid by our insurance carrier, who has confirmed that we have approximately $140 million
of remaining coverage under primary and excess policies that should be available with respect to current and future asbestos claims.</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">The Company’s subsidiary,
Brandon Drying Fabrics, Inc. (“Brandon”), is also a separate defendant in many of the asbestos cases in which Albany
is named as a defendant, despite never having manufactured any fabrics containing asbestos. While Brandon was defending against
7,709 claims as of March 31, 2019, only eleven claims have been filed against Brandon since January 1, 2012, and no settlement
costs have been incurred since 2001. Brandon was acquired by the Company in 1999, and has its own insurance policies covering periods
prior to 1999. Since 2004, Brandon’s insurance carriers have covered 100% of indemnification and defense costs, subject to
policy limits and a standard reservation of rights.</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0in; text-indent: 0.5in">In some of these asbestos cases,
the Company is named both as a direct defendant and as the “successor in interest” to Mount Vernon Mills (“Mount
Vernon”). We acquired certain assets from Mount Vernon in 1993. Certain plaintiffs allege injury caused by asbestos-containing
products alleged to have been sold by Mount Vernon
many years prior to this acquisition. Mount Vernon is contractually obligated to indemnify the Company against any liability arising
out of such products. We deny any liability for products sold by Mount Vernon prior to the acquisition of the Mount Vernon assets.
Pursuant to its contractual indemnification obligations, Mount Vernon has assumed the defense of these claims. On this basis, we
have successfully moved for dismissal in a number of actions.</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">We currently do not anticipate,
based on currently available information, that the ultimate resolution of the aforementioned proceedings will have a material adverse
effect on the financial position, results of operations, or cash flows of the Company. Although we cannot predict the number and
timing of future claims, based on the foregoing factors, the trends in claims filed against us, and available insurance, we also
do not currently anticipate that potential future claims will have a material adverse effect on our financial position, results
of operations, or cash flows.</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 0in"><b><i>18. Changes in Shareholders’ Equity</i></b></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 12pt 0 0 0in; text-indent: 0.5in">The following table summarizes changes
in Shareholders’ Equity for the period December 31, 2018 to March 31, 2019:</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in"><b> </b></p>
<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="width: 30%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-indent: 0in; text-align: left; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>(in thousands, except per share amounts)</b></font></td>
<td style="width: 8%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 1.5pt; padding-left: 1.5pt; text-align: center; vertical-align: bottom">
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; text-align: center"><b>Common<br />
Stock<br />
Class</b></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; text-align: center"><b>A and B</b></p></td>
<td style="width: 9%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Additional<br />
paid in<br />
capital</b></font></td>
<td style="width: 8%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Retained<br />
earnings</b></font></td>
<td style="width: 11%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Accumulated<br />
items of other<br />
comprehensive<br />
income/(loss)</b></font></td>
<td style="width: 12%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Treasury<br />
stock</b></font></td>
<td style="width: 12%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Noncontrolling<br />
Interest</b></font></td>
<td style="width: 10%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Total<br />
Equity</b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>December 31, 2018</b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$40 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$430,555 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$589,645 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>($158,388)</b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>($256,603)</b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$3,031 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$608,280 </b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Adoption of accounting standards (a)</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  35 </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">     - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   35 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Net income </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   29,190 </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">     - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    218 </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    29,408 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Compensation and benefits paid or payable in shares</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    (547)</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">     - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   (547)</font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Options exercised</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    44 </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">     - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   44 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Dividends declared:</font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Class A Common Stock, $0.18 per share</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   (5,813)</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">     - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    (5,813)</font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Class B Common Stock, $0.18 per share</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">     - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Cumulative translation adjustments</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    (654)</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">     - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    (8)</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   (662)</font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Pension and postretirement liability adjustments</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    (1,487)</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">     - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    (1,487)</font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Derivative valuation adjustment</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    (2,851)</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">     - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    (2,851)</font></td></tr>
<tr style="vertical-align: top">
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>March 31, 2019</b></font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$40 </b></font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$430,052 </b></font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$613,057 </b></font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>($163,380)</b></font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>($256,603)</b></font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$3,241 </b></font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$626,407 </b></font></td></tr>
</table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in"><font style="font-weight: normal"></font></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">The following table summarizes changes
in Shareholders’ Equity for the period December 31, 2017 to March 31, 2018:</p>
<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="width: 30%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-indent: 0in; text-align: left; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>(in thousands, except per share amounts)</b></font></td>
<td style="width: 8%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 1.5pt; padding-left: 1.5pt; text-align: center; vertical-align: bottom">
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; text-indent: 0in"><b>Common<br />
Stock<br />
Class</b></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; text-align: center"><b>A and B</b></p></td>
<td style="width: 9%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Additional<br />
paid in<br />
capital</b></font></td>
<td style="width: 8%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Retained<br />
earnings</b></font></td>
<td style="width: 11%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Accumulated<br />
items of other<br />
comprehensive<br />
income/(loss)</b></font></td>
<td style="width: 12%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Treasury<br />
stock</b></font></td>
<td style="width: 12%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Noncontrolling<br />
Interest</b></font></td>
<td style="width: 10%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Total<br />
Equity</b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>December 31, 2017</b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$40 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$428,423 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$534,082 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>($135,901)</b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>($256,876)</b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$3,247 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$573,015 </b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Adoption of accounting standards (b),(c)</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  (5,068)</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    (327)</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   (5,395)</font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Net income </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    7,662 </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   237 </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    7,899 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Compensation and benefits paid or payable in shares</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   289 </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   289 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Options exercised</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   147 </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   147 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Dividends declared:</font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Class A Common Stock, $0.17 per share</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  (5,483)</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   (5,483)</font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Class B Common Stock, $0.17 per share</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Cumulative translation adjustments</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    17,646 </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    (7)</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   17,639 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Pension and postretirement liability adjustments</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    (13)</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   (13)</font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Derivative valuation adjustment</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   4,480 </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    4,480 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>March 31, 2018</b></font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$40 </b></font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$428,859 </b></font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$531,193 </b></font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>($113,788)</b></font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>($256,876)</b></font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$3,150 </b></font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$592,578 </b></font></td></tr>
</table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 12pt 0 0 0in; text-indent: 0in"> </p>
<table cellpadding="0" cellspacing="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top">
<td style="width: 0; padding-bottom: 8pt"></td><td style="width: 0.25in; text-align: left; padding-bottom: 8pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">(a)</font></td><td style="padding-bottom: 8pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">As
described in Note 3, the Company adopted ASC 842, <i>Leases</i> effective January 1, 2019, which resulted in an increase to Retained
earnings of less than $0.1 million.</font></td>
</tr>
<tr style="vertical-align: top">
<td style="width: 0; padding-bottom: 8pt"></td><td style="width: 0.25in; text-align: left; padding-bottom: 8pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">(b)</font></td><td style="padding-bottom: 8pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">The
Company adopted ASC 606 effective January 1, 2018, which resulted in a decrease to Retained earnings of $5.6 million and a $0.3
million decrease to Noncontrolling interest.</font></td>
</tr>
<tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 0.25in; text-align: left"><font style="font: 10pt Arial, Helvetica, Sans-Serif">(c)</font></td><td><font style="font: 10pt Arial, Helvetica, Sans-Serif">The
Company adopted ASU 2016-16 effective January 1, 2018, which resulted in a $0.5 million increase to Retained earnings.</font></td></tr></table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 0"><b>19. Recent Accounting Pronouncements </b></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 0in"><b> </b></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">In June 2016, an accounting update
was issued which changes the way entities recognize impairment of many financial assets by requiring immediate recognition of credit
losses expected to occur over their remaining life. We are continuing to evaluate the expected impact on our consolidated financial
statements and related disclosures. We will adopt the new standard effective January 1, 2020.</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">In August 2018, an accounting update
was issued which aims to improve the overall usefulness of disclosures to financial statement users and reduce unnecessary costs
to companies when preparing defined benefit plan disclosures. We do not expect a significant impact to our consolidated assets
and liabilities, net earnings, or cash flows as a result of adopting this new standard. We plan to adopt the new standard effective
January 1, 2020.</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">In August 2018, an accounting update
was issued which aims to improve the overall usefulness of disclosures to financial statement users and reduce unnecessary costs
to companies when preparing fair value measurement disclosures. We are currently evaluating the impact of this update. We will
adopt the new standard effective January 1, 2020.</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">In November 2018, an accounting
update was issued which clarifies when transactions between collaborative arrangement participants are in the scope of ASC 606.
The update also provides some guidance on presentation of transactions not in the scope of ASC 606. We are currently evaluating
the impact of this update. We will adopt the new standard effective January 1, 2020.</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in"><b><i>Basis of Presentation</i></b></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">In the opinion of management, the
accompanying unaudited consolidated financial statements contain all adjustments necessary for a fair presentation of results for
such periods. Albany International Corp. (Albany, the Registrant, the Company, we, us, or our) consolidates the financial results
of its subsidiaries for all periods presented. The results for any interim period are not necessarily indicative of results for
the full year.</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">The preparation of financial statements
in accordance with U.S. generally accepted accounting principles (“GAAP”) requires management to make estimates and
assumptions that affect the amounts reported in Albany International Corp.’s Consolidated Financial Statements and accompanying
Notes. Actual results could differ materially from those estimates.</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">The information included in this
Quarterly Report on Form 10-Q should be read in conjunction with “Risk Factors,” “Legal Proceedings,” “Management’s
Discussion and Analysis of Financial Condition and Results of Operation,” “Quantitative and Qualitative Disclosures
about Market Risk” and the Consolidated Financial Statements and Notes thereto included in Items 1A, 3, 7, 7A and 8, respectively,
of the Albany International Corp. Annual Report on Form 10-K for the year ended December 31, 2018. Certain quarterly results for
2018 contained within this report have been revised to correct immaterial errors, as described in Note 24 of Item 8 in that same
Annual Report on Form 10-K.</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">Effective January 1, 2019, we adopted
the provisions of ASC 842, <i>Leases</i>, using the <font style="font-weight: normal">effective date approach for transition as
discussed in Note 3, Leases</font>. Accounting policies have been applied consistently to periods presented, except for the application
of ASC 842, as further described in Note 3.</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in"><font style="font-weight: normal">The
table below presents the cumulative effect of changes made to our December 31, 2018 Balance Sheet as a result of the adoption of
ASC 842,<i> Leases</i>:</font></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; text-indent: 0in">ALBANY INTERNATIONAL CORP.</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; text-indent: 0in">CONSOLIDATED BALANCE SHEET</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; text-indent: 0in">(in thousands, except share
data)</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; text-indent: 0in">(unaudited)</p>
<table cellspacing="0" cellpadding="0" style="font: 10pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="width: 46%; text-indent: 0in"> </td>
<td style="width: 16%; text-align: center; text-indent: 0in"> </td>
<td style="width: 3%; text-align: center; text-indent: 0in"> </td>
<td style="width: 16%; text-align: center; text-indent: 0in"> </td>
<td style="width: 3%; text-align: center; text-indent: 0in"> </td>
<td style="width: 16%; text-align: center; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"> </td>
<td style="text-align: center; text-indent: 0in"> </td>
<td style="text-align: center; text-indent: 0in"> </td>
<td style="text-align: center; text-indent: 0in"> </td>
<td style="text-align: center; text-indent: 0in"> </td>
<td style="text-align: center; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-align: center; text-indent: 0in"> </td>
<td style="border-bottom: black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">As previously<br />
reported at <br />
December 31, <br />
2018</font></td>
<td style="text-align: center; text-indent: 0in; vertical-align: bottom"> </td>
<td style="border-bottom: black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Adjustments<br />
Increase/<br />
(decrease)</font></td>
<td style="text-align: center; text-indent: 0in; vertical-align: bottom"> </td>
<td style="border-bottom: black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Opening <br />
balance, as <br />
adjusted, <br />
January 1, 2019</font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">ASSETS</font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top; background-color: silver">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Cash and cash equivalents</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$197,755 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$ - </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$197,755 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Accounts receivable, net</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    223,176 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      - </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    223,176 </font></td></tr>
<tr style="vertical-align: top; background-color: #969696">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Contract assets</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">     57,447 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      - </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">     57,447 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Inventories</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">     85,904 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      - </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">     85,904 </font></td></tr>
<tr style="vertical-align: top; background-color: #969696">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Income taxes prepaid and receivable</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">     7,473 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      - </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">     7,473 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Prepaid expenses and other current assets</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      21,294 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      (370)</font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">     20,924 </font></td></tr>
<tr style="vertical-align: top; background-color: #969696">
<td style="text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Total current assets</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">593,049 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">(370)</font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">592,679 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Property, plant and equipment, net</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    462,055 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">     (6,144)</font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">     455,911 </font></td></tr>
<tr style="vertical-align: top; background-color: #969696">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Intangibles, net</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">     49,206 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      - </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">     49,206 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Goodwill</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    164,382 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      - </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    164,382 </font></td></tr>
<tr style="vertical-align: top; background-color: #969696">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Deferred income taxes</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">     62,622 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      (20)</font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">     62,602 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"> Noncurrent receivables</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      45,061 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      - </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      45,061 </font></td></tr>
<tr style="vertical-align: top; background-color: #969696">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Other assets</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    41,617 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    13,615 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">     55,232 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Total assets</font></td>
<td style="border-bottom: black 2.25pt double; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$1,417,992 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="border-bottom: black 2.25pt double; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$7,081 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="border-bottom: black 2.25pt double; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$1,425,073 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">LIABILITIES AND SHAREHOLDERS' EQUITY</font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top; background-color: #969696">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Notes and loans payable</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$- </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$- </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$- </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Accounts payable</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">     52,246 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      - </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">     52,246 </font></td></tr>
<tr style="vertical-align: top; background-color: #969696">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Accrued liabilities</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    129,030 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">     4,964 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    133,994 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Current maturities of long-term debt</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      1,224 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">     (1,206)</font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      18 </font></td></tr>
<tr style="vertical-align: top; background-color: #969696">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Income taxes payable</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">     6,806 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      - </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">     6,806 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Total current liabilities</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">189,306 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">3,758 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">193,064 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top; background-color: #969696">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Long-term debt</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    523,707 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    (24,680)</font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    499,027 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Other noncurrent liabilities</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">     88,277 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">     27,968 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">     116,245 </font></td></tr>
<tr style="vertical-align: top; background-color: #969696">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Deferred taxes and other liabilities</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">     8,422 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      - </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">     8,422 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Total liabilities</font></td>
<td style="border-bottom: black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">809,712 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="border-bottom: black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">7,046 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="border-bottom: black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">816,758 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">SHAREHOLDERS' EQUITY</font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top; background-color: #969696">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Preferred stock, par value $5.00 per share;</font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top; background-color: #969696">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  authorized 2,000,000 shares; none issued</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      - </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      - </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      - </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Class A Common Stock, par value $.001 per share;</font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  authorized 100,000,000 shares; issued 37,450,329 in 2018</font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  and 37,395,753 in 2017</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      37 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      - </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      37 </font></td></tr>
<tr style="vertical-align: top; background-color: #969696">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Class B Common Stock, par value $.001 per share;</font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top; background-color: #969696">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  authorized 25,000,000 shares; issued and </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top; background-color: #969696">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  outstanding 3,233,998 in 2018 and 2017</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">     3 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      - </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">     3 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Additional paid in capital</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    430,555 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      - </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    430,555 </font></td></tr>
<tr style="vertical-align: top; background-color: #969696">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Retained earnings</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    589,645 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      35 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    589,680 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Accumulated items of other comprehensive income:</font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Translation adjustments</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      (115,976)</font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      - </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      (115,976)</font></td></tr>
<tr style="vertical-align: top; background-color: #969696">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Pension and postretirement liability adjustments</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    (47,109)</font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      - </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    (47,109)</font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Derivative valuation adjustment</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">     4,697 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      - </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">     4,697 </font></td></tr>
<tr style="vertical-align: top; background-color: #969696">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Treasury stock (Class A), at cost 8,418,620 shares in 2018</font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top; background-color: #969696">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  and 8,431,335 shares in 2017 </font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    (256,603)</font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      - </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    (256,603)</font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Total Company shareholders' equity</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    605,249 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      35 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    605,284 </font></td></tr>
<tr style="vertical-align: top; background-color: #969696">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Noncontrolling interest</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      3,031 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      - </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      3,031 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"> Total equity</font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">608,280 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">35 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">608,315 </font></td></tr>
<tr style="vertical-align: top; background-color: #969696">
<td style="text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Total liabilities and shareholders' equity</font></td>
<td style="border-bottom: black 2.25pt double; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$1,417,992</font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="border-bottom: black 2.25pt double; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$7,081</font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="border-bottom: black 2.25pt double; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$1,425,073</font></td></tr></table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 9pt 0 0 0in; text-align: justify; text-indent: 0.5in">The components
of lease expense were as follows:</p>
<table cellspacing="0" cellpadding="0" style="width: 60%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse; margin-left: 0.5in">
<tr style="vertical-align: top">
<td style="width: 71%; border-bottom: Black 1pt solid; text-indent: 0in; border-top: Black 1pt solid; text-align: left; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>(in thousands)</b></font></td>
<td style="width: 29%; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; border-top: Black 1pt solid"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>For the three<br />
months ended<br />
March 31, 2019</b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Finance lease</font></td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Amortization of right-of-use asset</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b> $ 253 </b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Interest on lease liabilities</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  399 </b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Operating lease</font></td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Fixed lease cost</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  1,217 </b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Variable lease cost</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  57 </b></font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Short-term lease cost</font></td>
<td style="text-align: right; text-indent: 0in; border-bottom: Black 1pt solid"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  332 </b></font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Total lease expense</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b> $ 2,258</b></font></td></tr></table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">Supplemental cash flow information
related to leases was as follows:</p>
<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="width: 78%; border-bottom: Black 1pt solid; text-indent: 0in; border-top: Black 1pt solid; text-align: left; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>(in thousands)</b></font></td>
<td style="width: 22%; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; border-top: Black 1pt solid"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>For the three<br />
months ended <br />
March 31, 2019</b></font></td></tr>
<tr style="vertical-align: top">
<td colspan="2" style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Cash paid for amounts included in the measurement of lease liabilities:</font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Operating cash flows from operating leases</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b> $ 1,191 </b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Operating cash flows from finance leases</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>   399 </b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Financing cash flows from finance leases</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>   400 </b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td colspan="2" style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Right-of-use assets obtained in exchange for lease obligations:</font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Operating leases</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b> $ 412 </b></font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Finance leases</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>   - </b></font></td></tr></table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in"><font style="font-weight: normal; font-style: normal">Supplemental
balance sheet information related to leases was as follows:</font></p>
<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="width: 82%; border-bottom: Black 1.5pt solid; text-align: right; text-indent: 0in"> </td>
<td style="width: 18%; border-bottom: Black 1.5pt solid; text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in; text-align: left; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>(in thousands)</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>March 31, 2019</b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Operating leases</b></font></td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Right of use assets included in Other assets </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b> $ 12,969 </b></font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"> </td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Lease liabilities included in </font></td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Accrued liabilities</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b> $ 4,182 </b></font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Other noncurrent liabilities</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>   8,935 </b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Total operating lease liabilities</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b> $ 13,117 </b></font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1.5pt solid; text-indent: 0in"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Finance leases</b></font></td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Right of use assets included in Property, plant and equipment, net</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b> $ 10,890 </b></font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"> </td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Lease liabilities included in </font></td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Accrued liabilities</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b> $ 1,216 </b></font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Other noncurrent liabilities</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  18,564 </b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Total finance lease liabilities</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b> $ 19,780</b></font></td></tr></table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in"><font style="font-weight: normal; font-style: normal">Additional
information for leases existing at March 31, 2019 was as follows:</font></p>
<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="width: 83%; text-indent: 0in; border-top: Black 1.5pt solid"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Weighted average remaining lease term</b></font></td>
<td style="width: 17%; text-align: right; text-indent: 0in; border-top: Black 1.5pt solid"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Operating leases</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>5 years</b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Finance leases</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>11 years</b></font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"> </td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Weighted average discount rate</b></font></td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Operating leases</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>6.1%</b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Finance leases</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>8.0%</b></font></td></tr></table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in"><font style="font-weight: normal; font-style: normal">Maturities
of lease liabilities as of March 31, 2019 were as follows:</font></p>
<table cellspacing="0" cellpadding="0" align="center" style="width: 85%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="width: 50%; border-bottom: Black 1pt solid; text-indent: 0in; border-top: Black 1px solid"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>(in thousands)</b></font></td>
<td style="width: 25%; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; border-top: Black 1px solid"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Operating leases</b></font></td>
<td style="width: 25%; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; border-top: Black 1px solid"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Finance lease</b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Year ending December 31,</font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">2019</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b> $ 3,487 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b> $ 2,057 </b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">2020</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  4,068 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  2,790 </b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">2021</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  2,033 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  2,790 </b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">2022</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>   1,419 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  2,838 </b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">2023</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>   1,346 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  3,004 </b></font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Thereafter</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  3,047 </b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  15,512 </b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Total lease payments</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  15,400 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  28,991 </b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Less imputed interest</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  (2,283)</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  (9,211)</b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Total</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b> $ 13,117 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b> $ 19,780</b></font></td></tr></table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in"><font style="font-weight: normal; font-style: normal">As
of December 31, 2018, the following schedule presents future minimum annual payments under the SLC lease finance obligation, and
the present value of the minimum payments:</font></p>
<table cellspacing="0" cellpadding="0" style="width: 70%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse; margin-left: 0.5in">
<tr style="vertical-align: top">
<td style="width: 66%; text-align: right; text-indent: 0in; border-bottom: Black 1pt solid"> </td>
<td style="width: 34%; text-align: right; text-indent: 0in; border-bottom: Black 1pt solid"> </td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"> </td>
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>(in thousands)</b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Year ending December 31,</font></td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">2019</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"> $ 2,451 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">2020</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   2,974 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">2021</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   2,990 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">2022</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   3,054 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">2023</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   3,277 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Thereafter</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   18,930 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Total minimum payments</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   33,676 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Less imputed interest</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   (7,790)</font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Total</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"> $ 25,886</font></td></tr></table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-indent: 0.5in">The following tables show data by reportable
segment, reconciled to consolidated totals included in the financial statements:</p>
<p style="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt; text-indent: 0.5in"> </p>
<table cellspacing="0" cellpadding="0" style="width: 90%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="border-top: Black 1pt solid; text-align: right; text-indent: 0in"> </td>
<td colspan="2" style="border-top: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Three months ended March 31,</b></font></td></tr>
<tr style="vertical-align: top">
<td style="width: 50%; border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>(in thousands)</b></font></td>
<td style="width: 24%; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>2019</b></font></td>
<td style="width: 26%; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>2018</b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Net sales</b></font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Machine Clothing</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$144,334 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$141,773 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Albany Engineered Composites</font></td>
<td style="text-align: right; text-indent: 0in; border-bottom: Black 1pt solid"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>   107,039 </b></font></td>
<td style="text-align: right; text-indent: 0in; border-bottom: Black 1pt solid"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  81,830 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Consolidated total</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$251,373 </b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$223,603 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Operating income/(loss)</b></font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Machine Clothing </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$44,243 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$26,942 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Albany Engineered Composites </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  9,522 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   2,275 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Corporate expenses</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>   (13,672)</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  (12,213)</font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Operating income </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$40,093 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$17,004 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Reconciling items:</font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Interest income</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  (599)</b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   (382)</font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Interest expense</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  5,016 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   4,670 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Other (income)/expense, net</font></td>
<td style="text-align: right; text-indent: 0in; border-bottom: Black 1pt solid"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>   (1,208)</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   1,452 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Income before income taxes</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$36,884 </b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$11,264</font></td></tr></table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-indent: 0.5in">The table below presents restructuring
costs by reportable segment (also see Note 5):</p>
<p style="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt; text-indent: 0.5in"> </p>
<table cellspacing="0" cellpadding="0" style="font: 10pt Calibri, Helvetica, Sans-Serif; width: 60%; border-collapse: collapse; margin-left: 1in">
<tr style="vertical-align: top">
<td style="text-align: right; text-indent: 0.5in; border-top: Black 1px solid"> </td>
<td colspan="2" style="text-align: center; text-indent: 0in; border-top: Black 1px solid"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Three months ended<br />
March 31,</b></font></td></tr>
<tr style="vertical-align: top">
<td style="width: 61%; border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>(in thousands)</b></font></td>
<td style="width: 21%; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>2019</b></font></td>
<td style="width: 18%; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>2018</b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Machine Clothing </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$401 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$8,352 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Albany Engineered Composites </font></td>
<td style="text-align: right; text-indent: 0in; border-bottom: Black 1pt solid"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  83 </b></font></td>
<td style="text-align: right; text-indent: 0in; border-bottom: Black 1pt solid"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   221 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1.5pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"> Total  </font></td>
<td style="border-bottom: Black 1.5pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$484 </b></font></td>
<td style="border-bottom: Black 1.5pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$8,573</font></td></tr></table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">The composition of the net periodic
benefit cost for the three months ended March 31, 2019 and 2018, was as follows:</p>
<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="border-top: Black 1pt solid; text-align: right; text-indent: 0in"> </td>
<td style="border-top: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Pension plans</b></font></td>
<td style="border-top: Black 1pt solid; text-align: center; text-indent: 0in"> </td>
<td colspan="2" style="border-top: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Other postretirement benefits</b></font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in; width: 50%"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>(in thousands)</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; width: 13%"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>2019</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; width: 12%"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>2018</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; width: 13%"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>2019</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; width: 12%"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>2018</b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Components of net periodic benefit cost:</font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Service cost</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$632 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$699 </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$47 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$58 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Interest cost</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  1,794 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  1,820 </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>   528 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  507 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Expected return on assets</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  (2,057)</b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  (2,247)</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  - </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  - </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Amortization of prior service cost/(credit)</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>   17 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   8 </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  (1,122)</b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  (1,122)</font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Amortization of net actuarial loss</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>   564 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  558 </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>   557 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  739 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Net periodic benefit cost</font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$950 </b></font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$838 </font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$10 </b></font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$182</font></td></tr></table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 11.25pt 0 0 0in; text-indent: 0.5in">The following table summarizes
charges reported in the Consolidated Statements of Income under “Restructuring expenses, net”:</p>
<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="width: 69%; border-bottom: Black 1.5pt solid; text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="width: 17%; border-bottom: Black 1.5pt solid; text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="width: 14%; border-bottom: Black 1.5pt solid; text-align: right; text-indent: 0in; font-size: 11pt"> </td></tr>
<tr style="vertical-align: top">
<td style="text-align: right; text-indent: 0in"> </td>
<td colspan="2" style="text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Three months ended March 31,</b></font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>(in thousands)</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>2019</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>2018</b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Machine Clothing </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$401 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$8,352 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Albany Engineered Composites </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>   83 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  221 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Corporate expenses</font></td>
<td style="text-align: right; text-indent: 0in; border-bottom: Black 1pt solid"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  - </b></font></td>
<td style="text-align: right; text-indent: 0in; border-bottom: Black 1pt solid"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  - </font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1.5pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"> Total  </font></td>
<td style="border-bottom: Black 1.5pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$484 </b></font></td>
<td style="border-bottom: Black 1.5pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$8,573 </font></td></tr>
</table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in"><font style="font-weight: normal"></font></p><table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="border-top: Black 1pt solid; text-indent: 0in; text-align: left; vertical-align: middle; width: 57%"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Three months ended March 31, 2019</b></font></td>
<td style="border-top: Black 1pt solid; text-align: center; text-indent: 0in; width: 24%"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Total<br />
restructuring <br />
costs incurred  </b></font></td>
<td style="border-top: Black 1pt solid; text-align: center; text-indent: 0in; width: 19%"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b> Termination <br />
and other <br />
costs  </b></font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>(in thousands)</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in"> </td>
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Machine Clothing  </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"> $401 </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"> $401 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Albany Engineered Composites  </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   83 </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  83 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Corporate expenses</font></td>
<td style="text-align: right; text-indent: 0in; border-bottom: Black 1pt solid"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in; border-bottom: Black 1pt solid"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   - </font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Total  </font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"> $484 </font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"> $484 </font></td></tr>
</table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0in"> </p>
<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="width: 57%; border-top: Black 1pt solid; text-indent: 0in; text-align: left; vertical-align: middle"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Three months ended March 31, 2018</b></font></td>
<td style="width: 24%; border-top: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Total <br />
restructuring <br />
costs<br />
incurred  </b></font></td>
<td style="width: 19%; border-top: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b> Termination <br />
and other <br />
costs  </b></font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in; text-align: left; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>(in thousands)</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in"> </td>
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in; text-align: left; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Machine Clothing  </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"> $8,352 </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"> $8,352 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in; text-align: left; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Albany Engineered Composites  </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    221 </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   221 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in; text-align: left; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Corporate expenses</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    -  </font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   -  </font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in; text-align: left; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Total  </font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$8,573 </font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$8,573</font></td></tr></table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">The table below presents the year-to-date changes
in restructuring liabilities for 2019 and 2018, all of which related to termination costs:</p>
<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="width: 33%; text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="width: 13%; text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="width: 13%; text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="width: 13%; text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="width: 13%; text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="width: 15%; text-align: right; text-indent: 0in; font-size: 11pt"> </td></tr>
<tr style="vertical-align: top">
<td style="border-top: Black 1pt solid; text-align: right; text-indent: 0in"> </td>
<td style="border-top: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>December 31,</b></font></td>
<td style="border-top: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Restructuring</b></font></td>
<td style="border-top: Black 1pt solid; text-align: center; text-indent: 0in"> </td>
<td style="border-top: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Currency</b></font></td>
<td style="border-top: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>March 31, </b></font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>(in thousands)</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>2018</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>charges accrued</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Payments</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>translation /other</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>2019</b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Total termination and other costs</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$5,570 </font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$484 </font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">($876)</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$23 </font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"> $5,201 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td></tr>
</table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0in"> </p>
<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="width: 33%; border-top: Black 1pt solid; text-align: right; text-indent: 0in"> </td>
<td style="width: 13%; border-top: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>December 31,</b></font></td>
<td style="width: 13%; border-top: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Restructuring</b></font></td>
<td style="width: 13%; border-top: Black 1pt solid; text-align: center; text-indent: 0in"> </td>
<td style="width: 13%; border-top: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Currency</b></font></td>
<td style="width: 15%; border-top: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>March 31,</b></font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>(in thousands)</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>2017</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>charges accrued</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Payments</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>translation /other</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>2018</b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Total termination and other costs</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$3,326 </font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$8,573 </font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">($2,051)</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$25 </font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"> $9,873</font></td></tr></table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">The components of Other (Income)/Expense,
net are:</p>
<table cellspacing="0" cellpadding="0" style="width: 90%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="border-top: Black 1pt solid; text-align: right; text-indent: 0in"> </td>
<td colspan="2" style="border-top: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Three months ended  March 31,</b></font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in; width: 62%"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>(in thousands)  </b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; width: 19%"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>2019</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; width: 19%"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>2018</b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Currency transaction (gains)/losses</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>($2,038)</b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$690 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Bank fees and amortization of debt issuance costs</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  109 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   108 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Components of net periodic pension and postretirement cost other than service</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  281 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  263 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Other  </font></td>
<td style="text-align: right; text-indent: 0in; border-bottom: Black 1pt solid"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  440 </b></font></td>
<td style="text-align: right; text-indent: 0in; border-bottom: Black 1pt solid"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   391 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Total  </font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>($1,208)</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$1,452</font></td></tr></table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-align: justify; text-indent: 0.5in">The following
table presents components of income tax expense for the three months ended March 31, 2019 and 2018:<b><i> </i></b></p>
<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<tr style="vertical-align: top; background-color: white">
<td style="text-align: right; text-indent: 0in; border-top: Black 1px solid"> </td>
<td style="text-align: right; text-indent: 0in; border-top: Black 1px solid"> </td>
<td style="text-align: right; text-indent: 0in; border-top: Black 1px solid"> </td>
<td style="text-align: right; text-indent: 0in; border-top: Black 1px solid"> </td>
<td colspan="2" style="text-align: center; text-indent: 0in; border-top: Black 1px solid"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Three months ended</b></font></td></tr>
<tr style="vertical-align: top; background-color: white">
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td colspan="2" style="text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>March 31,</b></font></td></tr>
<tr style="vertical-align: top; background-color: white">
<td colspan="4" style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>(in thousands, except percentages)</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>2019</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">2018</font></td></tr>
<tr style="vertical-align: top; background-color: white">
<td colspan="4" style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Income tax based on income from continuing operations, at estimated tax </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top; background-color: white">
<td colspan="4" style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">rates of 29.4% and 32.5%, respectively</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$10,847</b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$3,656</font></td></tr>
<tr style="vertical-align: top; background-color: white">
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; width: 11%"> </td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; width: 11%"> </td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; width: 11%"> </td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; width: 43%"> </td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; width: 12%"> </td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; width: 12%"> </td></tr>
<tr style="vertical-align: top; background-color: white">
<td colspan="3" style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Income tax before discrete items</font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  10,847 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  3,656 </font></td></tr>
<tr style="vertical-align: top; background-color: white">
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top; background-color: white">
<td colspan="2" style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Discrete tax expense:</font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top; background-color: white">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top; background-color: white">
<td colspan="3" style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Exercise of U.S. stock options</font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  (50)</b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  (123)</font></td></tr>
<tr style="vertical-align: top; background-color: white">
<td colspan="4" style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Adjustments to prior period tax liabilities</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  194 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  (46)</font></td></tr>
<tr style="vertical-align: top; background-color: white">
<td colspan="4" style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Provision for resolution of tax audits and contingencies, net</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  (2,232)</b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   5 </font></td></tr>
<tr style="vertical-align: top">
<td colspan="4" style="background-color: white; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Adjustment related to prior period change in opening valuation allowance</font></td>
<td style="background-color: white; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  (1,346)</b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   - </font></td></tr>
<tr style="vertical-align: top; background-color: white">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Other</font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  63 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  (127)</font></td></tr>
<tr style="vertical-align: top; background-color: white">
<td colspan="3" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Total income tax expense</font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"> </td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$7,476</b></font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$3,365</font></td></tr></table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">The amounts used in computing earnings
per share and the weighted average number of shares of potentially dilutive securities are as follows:</p>
<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="border-top: Black 1pt solid; text-align: right; text-indent: 0in"> </td>
<td colspan="2" style="border-top: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Three months ended<br />
March 31,</b></font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in; width: 70%"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>(in thousands, except market price and earnings per share)</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; width: 15%"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>2019</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; width: 15%"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>2018</b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in; font-size: 8pt"> </td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Net income attributable to the Company</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$29,190 </b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$7,662 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Weighted average number of shares:</b></font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Weighted average number of shares used in</font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">calculating basic net income per share</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  32,272 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  32,220 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Effect of dilutive stock-based compensation plans:</b></font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Stock options</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>   13 </b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   16 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Weighted average number of shares used in</font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">calculating diluted net income per share</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  32,285 </b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  32,236 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Average market price of common stock used</font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">for calculation of dilutive shares</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$71.24 </b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$63.86 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Net income attributable to the Company per share:</b></font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Basic</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$0.90 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$0.24 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Diluted</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$0.90 </b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$0.24</font></td></tr></table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 6pt 0.5in; text-indent: 0.5in">The table below presents the expense/(income)
amounts reclassified, and the line items of the Consolidated Statements of Income that were affected for the three months ended
March 31, 2019 and 2018.</p>
<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="border-top: Black 1pt solid; text-align: right; text-indent: 0in"> </td>
<td colspan="2" style="border-top: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Three months ended<br />
March 31, </b></font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in; width: 76%"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>(in thousands)</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; width: 13%"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>2019</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; width: 11%"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>2018</b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Pretax Derivative valuation reclassified from Accumulated Other Comprehensive Income:</b></font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in; padding-left: 10pt">
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0pt; text-indent: 0in">Expense related to interest rate swaps included
in Income</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0pt; text-indent: 0in">before taxes (a)</p></td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>($452)</b></font></td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$180 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Income tax effect</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>115 </b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">(43)</font></td></tr>
<tr style="vertical-align: top">
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Effect on net income due to items reclassified from Accumulated Other Comprehensive Income</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>($337)</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$137 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Pretax pension and postretirement liabilities reclassified from Accumulated Other Comprehensive Income:</b></font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Amortization of prior service credit</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  (1,105)</b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  (1,114)</font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Amortization of net actuarial loss</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  1,121 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  1,297 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-top: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Total pretax amount reclassified (b)</font></td>
<td style="border-top: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>16 </b></font></td>
<td style="border-top: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">183 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Income tax effect</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>(5)</b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">(55)</font></td></tr>
<tr style="vertical-align: top">
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Effect on net income due to items reclassified from Accumulated Other Comprehensive Income</font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$11 </b></font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$128 </font></td></tr>
</table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 6pt 0.5in; text-indent: 0in"></p>
<table cellpadding="0" cellspacing="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><font style="font: 10pt Arial, Helvetica, Sans-Serif">(a)</font></td><td><font style="font: 10pt Arial, Helvetica, Sans-Serif">Included
in Interest expense, net, are payments related to the interest rate swap agreements and amortization of swap buyouts (see Notes
15 and 16).</font></td>
</tr></table>
<table cellpadding="0" cellspacing="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><font style="font: 10pt Arial, Helvetica, Sans-Serif">(b)</font></td><td><font style="font: 10pt Arial, Helvetica, Sans-Serif">These
accumulated other comprehensive income components are included in the computation of net periodic cost (see Note 4).</font></td></tr></table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">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:</p>
<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td colspan="2" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Three months ended <br />
March 31,</b></font></td></tr>
<tr style="vertical-align: top">
<td style="width: 74%; border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>(in thousands)</b></font></td>
<td style="width: 14%; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>2019</b></font></td>
<td style="width: 12%; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>2018</b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Net income of Albany Safran Composites (ASC)</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b> $2,510 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"> $2,681 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Less: Return attributable to the Company's preferred holding</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  328 </b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  312 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Net income of ASC available for common ownership</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b> $2,182 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"> $2,369 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Ownership percentage of noncontrolling shareholder</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>10%</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">10%</font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Net income attributable to noncontrolling interest</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b> $218 </b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"> $237 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Noncontrolling interest, beginning of year</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b> $3,031 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"> $3,247 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Decrease attributable to 2018 adoption of ASC 606</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>   - </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  (327)</font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Net income attributable to noncontrolling interest</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  218 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   237 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Changes in other comprehensive income attributable to noncontrolling interest</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>   (8)</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  (7)</font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Noncontrolling interest</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b> $3,241 </b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"> $3,150</font></td></tr></table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">As of March 31, 2019 and December
31, 2018, Accounts receivable consisted of the following:</p>
<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="width: 66%; border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; text-indent: 0in; text-align: left; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>(in thousands)  </b></font></td>
<td style="width: 17%; border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; padding-right: 1.5pt; padding-left: 1.5pt">
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; text-align: center"><b>March 31,</b></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; text-align: center"><b>2019</b></p></td>
<td style="width: 17%; border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; padding-right: 1.5pt; padding-left: 1.5pt">
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; text-align: center"><b>December 31,</b></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; text-align: center"><b>2018</b></p></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Trade and other accounts receivable</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$223,717 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$211,244 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Bank promissory notes</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>18,332 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">19,269 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Allowance for doubtful accounts</font></td>
<td style="text-align: right; text-indent: 0in; border-bottom: Black 1pt solid"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  (7,922)</b></font></td>
<td style="text-align: right; text-indent: 0in; border-bottom: Black 1pt solid"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  (7,337)</font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Accounts receivable, net</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$234,127 </b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$223,176</font></td></tr></table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">As of March 31, 2019 and December
31, 2018, Noncurrent receivables consisted of the following:</p>
<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-indent: 0in; text-align: left; vertical-align: bottom; width: 66%"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>(in thousands)  </b></font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 1.5pt; padding-left: 1.5pt; width: 17%">
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; text-align: center"><b>March 31,</b></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; text-align: center"><b>2019</b></p></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 1.5pt; padding-left: 1.5pt; width: 17%">
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; text-align: center"><b>December 31,</b></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; text-align: center"><b>2018</b></p></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Noncurrent receivables</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$45,354 </b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$45,061</font></td></tr></table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">As of March 31, 2019 and December
31, 2018, Inventories consisted of the following:</p>
<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="width: 60%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>(in thousands)  </b></font></td>
<td style="width: 18%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>March 31, <br />
2019</b></font></td>
<td style="width: 22%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>December 31, <br />
2018</b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Raw materials</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$47,820 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$40,489 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Work in process</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  37,582 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   33,181 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Finished goods</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  16,977 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  12,234 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Total inventories</font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$102,379 </b></font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$85,904</font></td></tr></table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">Estimated amortization expense of
intangibles for the years ending December 31, 2019 through 2023, is as follows:</p>
<table cellspacing="0" cellpadding="0" style="width: 60%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse; margin-left: 0.5in">
<tr style="vertical-align: top">
<td style="width: 44%; border-top: Black 1pt solid; text-align: center; text-indent: 0in"> </td>
<td style="width: 56%; border-top: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Annual amortization</b></font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Year</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>(in thousands)</b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">2019</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$6,234 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">2020</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  6,234 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">2021</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   6,163 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">2022</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  3,949 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">2023</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  3,228</font></td></tr></table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">The gross carrying
value, accumulated amortization and net values of intangible assets and goodwill as of March 31, 2019 and December 31, 2018, were
as follows:</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0in; text-indent: 0.5in"> </p>
<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="width: 35%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-indent: 0in; text-align: left; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>As of March 31, 2019   <br />
(in thousands)</b></font></td>
<td style="width: 20%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Weighted
average<br />
amortization life in<br />
years</b></font></td>
<td style="width: 12%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Gross<br />
carrying<br />
amount</b></font></td>
<td style="width: 18%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Accumulated<br />
amortization</b></font></td>
<td style="width: 15%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Net carrying<br />
amount</b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Amortized intangible assets:</font></td>
<td style="text-indent: 0in"> </td>
<td style="text-indent: 0in"> </td>
<td style="text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">AEC trade names</font></td>
<td style="text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">15</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$140 </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">($131)</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$9 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">AEC technology</font></td>
<td style="text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">15</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">370 </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">(321)</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">49 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Customer relationships</font></td>
<td style="text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">15</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  48,421 </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">(9,690)</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">38,731 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Customer contracts</font></td>
<td style="text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">6</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  17,471 </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">(8,743)</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">8,728 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Other intangibles</font></td>
<td style="text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">5</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   322 </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">(193)</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">129 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Net amortized intangible assets</font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-indent: 0in"> </td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$66,724 </font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">($19,078)</font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$47,646 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   </font></td>
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   </font></td>
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Unamortized intangible assets:</font></td>
<td style="text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">MC Goodwill</font></td>
<td style="text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$67,708 </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"> $- </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$67,708 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">AEC Goodwill</font></td>
<td style="border-bottom: Black 1pt solid; text-indent: 0in"> </td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  95,730 </font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   - </font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  95,730 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Total unamortized intangible assets:</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"> </td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$163,438 </font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"> $- </font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$163,438 </font></td></tr>
</table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0in; text-indent: 0in"> </p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0in; text-indent: 0in"> </p>
<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="width: 35%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-indent: 0in; text-align: left; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>As of December 31, 2018   <br />
(in thousands)</b></font></td>
<td style="width: 19%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Weighted average<br />
amortization life<br />
in years</b></font></td>
<td style="width: 12%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Gross<br />
carrying<br />
amount</b></font></td>
<td style="width: 18%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Accumulated<br />
amortization</b></font></td>
<td style="width: 16%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Net carrying<br />
amount</b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Amortized intangible assets:</font></td>
<td style="text-indent: 0in"> </td>
<td style="text-indent: 0in"> </td>
<td style="text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">AEC trade names</font></td>
<td style="text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">15</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$140 </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">($129)</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$11 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">AEC technology</font></td>
<td style="text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">15</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">370 </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">(314)</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    56 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Customer relationships</font></td>
<td style="text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">15</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  48,421 </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">(8,883)</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   39,538 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Customer contracts</font></td>
<td style="text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">6</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  17,471 </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">(8,015)</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  9,456 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Other intangibles</font></td>
<td style="text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">5</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  322 </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">(177)</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   145 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Net amortized intangible assets</font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-indent: 0in"> </td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$66,724 </font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">($17,518)</font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$49,206 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   </font></td>
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   </font></td>
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Unamortized intangible assets:</font></td>
<td style="text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">MC Goodwill</font></td>
<td style="text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$68,652 </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"> $- </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$68,652 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">AEC Goodwill</font></td>
<td style="border-bottom: Black 1pt solid; text-indent: 0in"> </td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  95,730 </font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  - </font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   95,730 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Total unamortized intangible assets:</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"> </td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$164,382 </font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"> $- </font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$164,382 </font></td></tr>
</table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in"><font style="font-weight: normal"></font></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0in; text-indent: 0.5in">The changes in intangible assets, net
and goodwill from December 31, 2018 to March 31, 2019, were as follows:</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt; text-indent: 0in"> </p>
<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="width: 37%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-indent: 0in; text-align: left; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>(in thousands)</b></font></td>
<td style="width: 16%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>December 31,<br />
2018</b></font></td>
<td style="width: 17%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Amortization</b></font></td>
<td style="width: 15%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Currency<br />
Translation</b></font></td>
<td style="width: 15%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>March 31,2019</b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Amortized intangible assets:</font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">AEC trade names</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$11 </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">($2)</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"> $- </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$9 </b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">AEC technology</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">56 </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">(7)</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>49 </b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Customer relationships</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  39,538 </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">(807)</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>38,731 </b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Customer contracts</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  9,456 </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">(728)</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>8,728 </b></font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Other intangibles</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   145 </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">(16)</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>129 </b></font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Net amortized intangible assets</font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$49,206 </font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">($1,560)</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"> $- </font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$47,646 </b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>   </b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Unamortized intangible assets:</font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">MC Goodwill</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$68,652 </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"> $- </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">($944)</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$67,708 </b></font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">AEC Goodwill</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  95,730 </font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   - </font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  - </font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>95,730 </b></font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Total unamortized intangible assets:</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$164,382 </font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"> $- </font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">($944)</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$163,438</b></font></td></tr></table>
<p style="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0">Long-term debt, principally to
banks and noteholders, consists of:</p>
<table cellspacing="0" cellpadding="0" style="width: 93%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse; margin-left: 0.5in">
<tr style="vertical-align: top">
<td style="width: 55%; border-bottom: Black 1pt solid; text-indent: 0in; text-align: left; vertical-align: bottom; border-top: Black 1px solid"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>(in thousands, except interest rates)</b></font></td>
<td style="width: 4%; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; border-top: Black 1px solid"> </td>
<td style="width: 17%; border-bottom: Black 1pt solid; text-align: center; vertical-align: bottom; border-top: Black 1px solid"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>March 31, <br />
2019</b></font></td>
<td style="width: 24%; border-bottom: Black 1pt solid; text-align: center; vertical-align: bottom; border-top: Black 1px solid"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>December 31, 2018</b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"> </td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"> </td></tr>
<tr style="vertical-align: top">
<td colspan="2" style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Revolving credit agreement with borrowings outstanding at an end of period interest rate of 3.61% in 2019 and 3.69% in 2018 (including the effect of interest rate hedging transactions, as described below), due in 2022</font></td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b> $491,000 </b></font></td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"> $499,000 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"> </td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Finance obligation</font></td>
<td style="text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>-</b></font></td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">25,886</font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"> </td>
<td style="text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"> </td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"> </td></tr>
<tr style="vertical-align: top">
<td colspan="2" style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Other debt, at an average end of period rate of 5.50% in both 2019 and 2018, due in varying amounts through 2021</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>41</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">45</font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"> </td>
<td style="text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"> </td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Long-term debt</font></td>
<td style="text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>491,041</b></font></td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">524,931</font></td></tr>
<tr style="vertical-align: top">
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"> </td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"> </td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Less: current portion</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"> </td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>(19)</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">(1,224)</font></td></tr>
<tr style="vertical-align: top">
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"> </td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"> </td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Long-term debt, net of current portion</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"> </td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$491,022</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$523,707</font></td></tr></table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 6pt 0in; text-indent: 0.5in">The following table presents the
fair-value hierarchy for our Level 1 and Level 2 financial and non-financial assets and liabilities, which are measured at fair
value on a recurring basis:</p>
<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="border-top: Black 1pt solid; text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="border-top: Black 1pt solid; text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td colspan="4" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; font-size: 11pt"><b>March 31, 2019</b></td>
<td style="border-top: Black 1pt solid; text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td colspan="4" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; font-size: 11pt"><b>December 31, 2018</b></td></tr>
<tr style="vertical-align: top">
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td colspan="2" style="text-align: center; text-indent: 0in; font-size: 8pt; vertical-align: bottom"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>Quoted<br />
prices in<br />
active <br />
markets</b></font></td>
<td colspan="3" style="text-align: center; text-indent: 0in; font-size: 8pt; vertical-align: bottom"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>Significant<br />
other <br />
observable <br />
inputs</b></font></td>
<td colspan="2" style="text-align: center; text-indent: 0in; font-size: 8pt; vertical-align: bottom"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>Quoted<br />
prices in<br />
active<br />
markets</b></font></td>
<td colspan="2" style="text-align: center; text-indent: 0in; font-size: 8pt; vertical-align: bottom"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>Significant<br />
other<br />
observable<br />
inputs</b></font></td></tr>
<tr style="vertical-align: top">
<td style="width: 44%; text-align: right; text-indent: 0in"> </td>
<td style="width: 1%; text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="width: 11%; text-align: center; text-indent: 0in; font-size: 8pt"> </td>
<td style="width: 3%; text-align: center; text-indent: 0in; font-size: 8pt"> </td>
<td style="width: 11%; text-align: center; text-indent: 0in; font-size: 8pt"> </td>
<td style="width: 2%; text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="width: 3%; text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="width: 10%; text-align: center; text-indent: 0in; font-size: 8pt"> </td>
<td style="width: 2%; text-align: center; text-indent: 0in; font-size: 8pt"> </td>
<td style="width: 11%; text-align: center; text-indent: 0in; font-size: 8pt"> </td>
<td style="width: 2%; text-align: center; text-indent: 0in; font-size: 8pt"> </td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>(in thousands)</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; font-size: 8pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>(Level 1)</b></font></td>
<td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; font-size: 8pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>(Level 2)</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; font-size: 8pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>(Level 1)</b></font></td>
<td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; font-size: 8pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>(Level 2)</b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Fair Value</b></font></td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="text-align: center; text-indent: 0in; font-size: 9pt"> </td>
<td style="text-align: center; text-indent: 0in; font-size: 9pt"> </td>
<td style="text-align: center; text-indent: 0in; font-size: 9pt"> </td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="text-align: center; text-indent: 0in; font-size: 9pt"> </td>
<td style="text-align: center; text-indent: 0in; font-size: 9pt"> </td>
<td style="text-align: center; text-indent: 0in; font-size: 9pt"> </td>
<td style="text-align: center; text-indent: 0in; font-size: 9pt"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><i>Assets:</i></font></td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="text-align: center; text-indent: 0in"> </td>
<td style="text-align: center; text-indent: 0in"> </td>
<td style="text-align: center; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="text-align: center; text-indent: 0in"> </td>
<td style="text-align: center; text-indent: 0in"> </td>
<td style="text-align: center; text-indent: 0in"> </td>
<td style="text-align: center; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Cash equivalents</font></td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"> $13,897 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"> $- </font></td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"> $14,234 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"> $- </font></td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><i>Other Assets:</i></font></td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Common stock of unaffiliated foreign public company (a)</font></td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   743 </font></td>
<td style="text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    -  </font></td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  731 </font></td>
<td style="text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    -  </font></td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in; padding-left: 20pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Interest rate swaps</font></td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    -  </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   822 </font></td>
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><sup>(b) </sup></font></td>
<td style="text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  -  </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   4,548 </font></td>
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><sup>(c) </sup></font></td></tr>
<tr style="vertical-align: top">
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1.5pt solid; text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: right; text-indent: 0in; font-size: 11pt"> </td></tr>
<tr style="vertical-align: top">
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td></tr>
</table>
<table cellpadding="0" cellspacing="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt"><tr style="vertical-align: top">
<td style="width: 0pt; padding-bottom: 8pt"></td>
<td style="width: 13%; padding-bottom: 8pt"> </td><td style="width: 0.25in; text-align: left; padding-bottom: 8pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif">(a)</font></td><td style="padding-bottom: 8pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif">Original
cost basis $0.5 million.</font></td>
</tr>
<tr style="vertical-align: top">
<td style="padding-bottom: 8pt"></td>
<td style="padding-bottom: 8pt"> </td><td style="text-align: left; padding-bottom: 8pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif">(b)</font></td><td style="padding-bottom: 8pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif">Net
of $26.7 million receivable floating leg and $25.9 million liability fixed leg.</font></td>
</tr>
<tr style="vertical-align: top">
<td style="padding-bottom: 8pt"></td>
<td style="padding-bottom: 8pt"> </td><td style="text-align: left; padding-bottom: 8pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif">(c)</font></td><td style="padding-bottom: 8pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif">Net
of $32.0 million receivable floating leg and $27.5 million liability fixed leg.</font></td></tr></table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 12pt 0 0 0in; text-indent: 0.5in">Gains/(losses) related to changes
in fair value of derivative instruments that were recognized in Other (income)/expense, net in the Consolidated Statements of Income
were as follows:</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 12pt 0 0 0in; text-indent: 0.5in"> </p>
<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="border-top: Black 1pt solid; text-align: right; text-indent: 0in"> </td>
<td colspan="2" style="border-top: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Three months <br />
ended  March 31,</b></font></td></tr>
<tr style="vertical-align: top">
<td style="width: 68%; border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>(in thousands)</b></font></td>
<td style="width: 17%; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>2019</b></font></td>
<td style="width: 15%; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>2018</b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: center; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Derivatives not designated as hedging instruments</font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Foreign currency options (losses)</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b> $ -  </b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">($37)</font></td></tr>
</table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">The following table sets forth the
number of claims filed, the number of claims settled, dismissed or otherwise resolved, and the aggregate settlement amount during
the periods presented:</p>
<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="width: 24%; border-top: Black 1.5pt solid; border-right: Black 1pt solid; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; text-align: center; text-indent: 0in; vertical-align: bottom; white-space: nowrap"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Year ended December 31,</b></font></td>
<td style="width: 14%; border-top: Black 1.5pt solid; border-right: Black 1pt solid; border-bottom: Black 1.5pt solid; text-align: center; text-indent: 0in; vertical-align: bottom; white-space: nowrap"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Opening Number <br />
of Claims</b></font></td>
<td style="width: 16%; border-top: Black 1.5pt solid; border-right: Black 1pt solid; border-bottom: Black 1.5pt solid; text-align: center; text-indent: 0in; vertical-align: bottom; white-space: nowrap"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Claims<br />
Dismissed,Settled,<br />
or Resolved</b></font></td>
<td style="width: 16%; border-top: Black 1.5pt solid; border-right: Black 1pt solid; border-bottom: Black 1.5pt solid; text-align: center; text-indent: 0in; vertical-align: bottom; white-space: nowrap"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>New Claims</b></font></td>
<td style="width: 14%; border-top: Black 1.5pt solid; border-right: Black 1pt solid; border-bottom: Black 1.5pt solid; text-align: center; text-indent: 0in; vertical-align: bottom; white-space: nowrap"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Closing Number<br />
of Claims</b></font></td>
<td style="width: 16%; border-top: Black 1.5pt solid; border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; text-align: center; text-indent: 0in; vertical-align: bottom; white-space: nowrap"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Amounts Paid<br />
(thousands) to<br />
Settle or Resolve</b></font></td></tr>
<tr style="vertical-align: top">
<td style="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; border-left: black 2.25pt solid; text-align: right; text-indent: 0in; padding-right: 3pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">2014</font></td>
<td style="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; text-align: right; text-indent: 0in; padding-right: 3pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  4,299 </font></td>
<td style="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; text-align: right; text-indent: 0in; padding-right: 3pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  625 </font></td>
<td style="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; text-align: right; text-indent: 0in; padding-right: 3pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   147 </font></td>
<td style="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; text-align: right; text-indent: 0in; padding-right: 3pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  3,821 </font></td>
<td style="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; text-align: right; text-indent: 0in; padding-right: 3pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   $437 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; border-left: black 2.25pt solid; text-align: right; text-indent: 0in; padding-right: 3pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">2015</font></td>
<td style="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; text-align: right; text-indent: 0in; padding-right: 3pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  3,821 </font></td>
<td style="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; text-align: right; text-indent: 0in; padding-right: 3pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  116 </font></td>
<td style="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; text-align: right; text-indent: 0in; padding-right: 3pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  86 </font></td>
<td style="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; text-align: right; text-indent: 0in; padding-right: 3pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  3,791 </font></td>
<td style="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; text-align: right; text-indent: 0in; padding-right: 3pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   164 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; border-left: black 2.25pt solid; text-align: right; text-indent: 0in; padding-right: 3pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">2016</font></td>
<td style="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; text-align: right; text-indent: 0in; padding-right: 3pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  3,791 </font></td>
<td style="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; text-align: right; text-indent: 0in; padding-right: 3pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  148 </font></td>
<td style="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; text-align: right; text-indent: 0in; padding-right: 3pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   102 </font></td>
<td style="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; text-align: right; text-indent: 0in; padding-right: 3pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  3,745 </font></td>
<td style="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; text-align: right; text-indent: 0in; padding-right: 3pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   758 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; border-left: black 2.25pt solid; text-align: right; text-indent: 0in; padding-right: 3pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">2017</font></td>
<td style="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; text-align: right; text-indent: 0in; padding-right: 3pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  3,745 </font></td>
<td style="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; text-align: right; text-indent: 0in; padding-right: 3pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   105 </font></td>
<td style="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; text-align: right; text-indent: 0in; padding-right: 3pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  90 </font></td>
<td style="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; text-align: right; text-indent: 0in; padding-right: 3pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  3,730 </font></td>
<td style="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; text-align: right; text-indent: 0in; padding-right: 3pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">55</font></td></tr>
<tr style="vertical-align: top">
<td style="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; border-left: black 2.25pt solid; text-align: right; text-indent: 0in; padding-right: 3pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">2018</font></td>
<td style="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; text-align: right; text-indent: 0in; padding-right: 3pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  3,730 </font></td>
<td style="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; text-align: right; text-indent: 0in; padding-right: 3pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   152 </font></td>
<td style="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; text-align: right; text-indent: 0in; padding-right: 3pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  106 </font></td>
<td style="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; text-align: right; text-indent: 0in; padding-right: 3pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  3,684 </font></td>
<td style="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; text-align: right; text-indent: 0in; padding-right: 3pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">100</font></td></tr>
<tr style="vertical-align: top">
<td style="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; border-left: black 2.25pt solid; text-indent: 0in; font-size: 9pt; padding-right: 3pt"><font style="font: 9pt Arial, Helvetica, Sans-Serif"><b>2019 (as of March 31)</b></font></td>
<td style="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; text-align: right; text-indent: 0in; padding-right: 3pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>3,684</b></font></td>
<td style="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; text-align: right; text-indent: 0in; padding-right: 3pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>13</b></font></td>
<td style="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; text-align: right; text-indent: 0in; padding-right: 3pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>17</b></font></td>
<td style="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; text-align: right; text-indent: 0in; padding-right: 3pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>3,688</b></font></td>
<td style="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; text-align: right; text-indent: 0in; padding-right: 3pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$-</b></font></td></tr>
</table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 12pt 0 0 0in; text-indent: 0.5in">The following table summarizes changes
in Shareholders’ Equity for the period December 31, 2018 to March 31, 2019:</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in"><b> </b></p>
<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="width: 30%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-indent: 0in; text-align: left; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>(in thousands, except per share amounts)</b></font></td>
<td style="width: 8%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 1.5pt; padding-left: 1.5pt; text-align: center; vertical-align: bottom">
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; text-align: center"><b>Common<br />
Stock<br />
Class</b></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; text-align: center"><b>A and B</b></p></td>
<td style="width: 9%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Additional<br />
paid in<br />
capital</b></font></td>
<td style="width: 8%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Retained<br />
earnings</b></font></td>
<td style="width: 11%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Accumulated<br />
items of other<br />
comprehensive<br />
income/(loss)</b></font></td>
<td style="width: 12%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Treasury<br />
stock</b></font></td>
<td style="width: 12%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Noncontrolling<br />
Interest</b></font></td>
<td style="width: 10%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Total<br />
Equity</b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>December 31, 2018</b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$40 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$430,555 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$589,645 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>($158,388)</b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>($256,603)</b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$3,031 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$608,280 </b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Adoption of accounting standards (a)</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  35 </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">     - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   35 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Net income </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   29,190 </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">     - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    218 </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    29,408 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Compensation and benefits paid or payable in shares</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    (547)</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">     - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   (547)</font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Options exercised</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    44 </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">     - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   44 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Dividends declared:</font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Class A Common Stock, $0.18 per share</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   (5,813)</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">     - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    (5,813)</font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Class B Common Stock, $0.18 per share</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">     - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Cumulative translation adjustments</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    (654)</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">     - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    (8)</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   (662)</font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Pension and postretirement liability adjustments</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    (1,487)</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">     - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    (1,487)</font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Derivative valuation adjustment</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    (2,851)</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">     - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    (2,851)</font></td></tr>
<tr style="vertical-align: top">
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>March 31, 2019</b></font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$40 </b></font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$430,052 </b></font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$613,057 </b></font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>($163,380)</b></font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>($256,603)</b></font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$3,241 </b></font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$626,407 </b></font></td></tr>
</table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in"><font style="font-weight: normal"></font></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">The following table summarizes changes
in Shareholders’ Equity for the period December 31, 2017 to March 31, 2018:</p>
<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="width: 30%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-indent: 0in; text-align: left; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>(in thousands, except per share amounts)</b></font></td>
<td style="width: 8%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 1.5pt; padding-left: 1.5pt; text-align: center; vertical-align: bottom">
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; text-indent: 0in"><b>Common<br />
Stock<br />
Class</b></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; text-align: center"><b>A and B</b></p></td>
<td style="width: 9%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Additional<br />
paid in<br />
capital</b></font></td>
<td style="width: 8%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Retained<br />
earnings</b></font></td>
<td style="width: 11%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Accumulated<br />
items of other<br />
comprehensive<br />
income/(loss)</b></font></td>
<td style="width: 12%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Treasury<br />
stock</b></font></td>
<td style="width: 12%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Noncontrolling<br />
Interest</b></font></td>
<td style="width: 10%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Total<br />
Equity</b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>December 31, 2017</b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$40 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$428,423 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$534,082 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>($135,901)</b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>($256,876)</b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$3,247 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$573,015 </b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Adoption of accounting standards (b),(c)</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  (5,068)</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    (327)</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   (5,395)</font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Net income </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    7,662 </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   237 </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    7,899 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Compensation and benefits paid or payable in shares</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   289 </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   289 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Options exercised</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   147 </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   147 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Dividends declared:</font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Class A Common Stock, $0.17 per share</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  (5,483)</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   (5,483)</font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Class B Common Stock, $0.17 per share</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Cumulative translation adjustments</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    17,646 </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    (7)</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   17,639 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Pension and postretirement liability adjustments</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    (13)</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   (13)</font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Derivative valuation adjustment</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   4,480 </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    4,480 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>March 31, 2018</b></font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$40 </b></font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$428,859 </b></font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$531,193 </b></font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>($113,788)</b></font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>($256,876)</b></font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$3,150 </b></font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$592,578 </b></font></td></tr>
</table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 12pt 0 0 0in; text-indent: 0in"> </p>
<table cellpadding="0" cellspacing="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top">
<td style="width: 0; padding-bottom: 8pt"></td><td style="width: 0.25in; text-align: left; padding-bottom: 8pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">(a)</font></td><td style="padding-bottom: 8pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">As
described in Note 3, the Company adopted ASC 842, <i>Leases</i> effective January 1, 2019, which resulted in an increase to Retained
earnings of less than $0.1 million.</font></td>
</tr>
<tr style="vertical-align: top">
<td style="width: 0; padding-bottom: 8pt"></td><td style="width: 0.25in; text-align: left; padding-bottom: 8pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">(b)</font></td><td style="padding-bottom: 8pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">The
Company adopted ASC 606 effective January 1, 2018, which resulted in a decrease to Retained earnings of $5.6 million and a $0.3
million decrease to Noncontrolling interest.</font></td>
</tr>
<tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 0.25in; text-align: left"><font style="font: 10pt Arial, Helvetica, Sans-Serif">(c)</font></td><td><font style="font: 10pt Arial, Helvetica, Sans-Serif">The
Company adopted ASU 2016-16 effective January 1, 2018, which resulted in a $0.5 million increase to Retained earnings.</font></td></tr></table>
0.10
28000000
300000
4600000
3200000
2100000
1500000
6500000
17300000
20800000
3500000
599000
382000
107800000
96200000
5600000
500000
1000000
90000000
115000000
53000000
400000
100000
200000
8100000
12100000
50
159200000
4100000
2200000
3300000
2007
2019
0.294
0.3250
2200000
2200000
1300000
-1346000
-1346000
0.0361
0.0369
0.0369
0.0550
550000000
685000000
120000000
300000000
491000000
194000000
350000000
350000000
0.0211
0.0361
0.01250
0.01750
0.01375
0.0249
3.75
3.00
1.79
12.08
5200000
6300000
491000000
491041000
524931000
499000000
25886000
41000
45000
2022-12-31
2021-12-31
13897000
14234000
26700000
32000000
25900000
27500000
500000
500000
-37000
37759
7709
10300000
1.00
1.00
140000000
3688
3791
3821
4299
3730
3745
3684
13
116
625
148
105
152
17
86
147
102
90
106
164000
437000
758000
55000
100000
5600000
500000
100000
-547000
-547000
289000
289000
44000
44000
147000
147000
5813000
5483000
5813000
5483000
-662000
-8000
-654000
17639000
17646000
-7000
1487000
1487000
13000
13000
-2851000
-2851000
4480000
4480000
29000000
3300000
0.10
0.10
0.90
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0in"><b><i>5. Restructuring </i></b></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0.5in; margin-right: 0; margin-left: 0in">MC restructuring charges
include expenses for the first three months of 2019 and 2018 related to discontinued operations at its MC production facility in
Sélestat, France. In 2018, the plan was approved by the French Labor Ministry which led to restructuring expense of $8.1
million in the first three months of 2018 for severance and outplacement costs for the approximately 50 positions that were terminated
under this plan. In the first quarter of 2019, restructuring charges were $0.4 million. Since 2017, we have recorded $12.1 million
of restructuring charges related to this action.</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0.5in; margin-right: 0; margin-left: 0in">AEC restructuring charges
include expenses for the first three months of 2019 and 2018 related to work force reductions in AEC locations in Salt Lake City,
Utah and Rochester, New Hampshire. The restructuring charges for the first three months of 2019 and 2018 include expenses of $0.1
million and $0.2 million, respectively.</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 11.25pt 0 0 0in; text-indent: 0.5in">The following table summarizes
charges reported in the Consolidated Statements of Income under “Restructuring expenses, net”:</p>
<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="width: 69%; border-bottom: Black 1.5pt solid; text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="width: 17%; border-bottom: Black 1.5pt solid; text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="width: 14%; border-bottom: Black 1.5pt solid; text-align: right; text-indent: 0in; font-size: 11pt"> </td></tr>
<tr style="vertical-align: top">
<td style="text-align: right; text-indent: 0in"> </td>
<td colspan="2" style="text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Three months ended March 31,</b></font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>(in thousands)</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>2019</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>2018</b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Machine Clothing </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$401 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$8,352 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Albany Engineered Composites </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>   83 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  221 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Corporate expenses</font></td>
<td style="text-align: right; text-indent: 0in; border-bottom: Black 1pt solid"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  - </b></font></td>
<td style="text-align: right; text-indent: 0in; border-bottom: Black 1pt solid"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  - </font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1.5pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"> Total  </font></td>
<td style="border-bottom: Black 1.5pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$484 </b></font></td>
<td style="border-bottom: Black 1.5pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$8,573 </font></td></tr>
</table>
<div><font style="font: normal 10pt Times New Roman, Times, serif"> </font></div>
<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="border-top: Black 1pt solid; text-indent: 0in; text-align: left; vertical-align: middle; width: 57%"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Three months ended March 31, 2019</b></font></td>
<td style="border-top: Black 1pt solid; text-align: center; text-indent: 0in; width: 24%"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Total<br />
restructuring <br />
costs incurred  </b></font></td>
<td style="border-top: Black 1pt solid; text-align: center; text-indent: 0in; width: 19%"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b> Termination <br />
and other <br />
costs  </b></font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>(in thousands)</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in"> </td>
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Machine Clothing  </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"> $401 </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"> $401 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Albany Engineered Composites  </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   83 </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  83 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Corporate expenses</font></td>
<td style="text-align: right; text-indent: 0in; border-bottom: Black 1pt solid"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    - </font></td>
<td style="text-align: right; text-indent: 0in; border-bottom: Black 1pt solid"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   - </font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Total  </font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"> $484 </font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"> $484 </font></td></tr>
</table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0in"> </p>
<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="width: 57%; border-top: Black 1pt solid; text-indent: 0in; text-align: left; vertical-align: middle"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Three months ended March 31, 2018</b></font></td>
<td style="width: 24%; border-top: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Total <br />
restructuring <br />
costs<br />
incurred  </b></font></td>
<td style="width: 19%; border-top: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b> Termination <br />
and other <br />
costs  </b></font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in; text-align: left; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>(in thousands)</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in"> </td>
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in; text-align: left; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Machine Clothing  </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"> $8,352 </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"> $8,352 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in; text-align: left; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Albany Engineered Composites  </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    221 </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   221 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in; text-align: left; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Corporate expenses</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    -  </font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   -  </font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in; text-align: left; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Total  </font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$8,573 </font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$8,573 </font></td></tr>
</table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0in"> </p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">We expect substantially all of Accrued
liabilities for restructuring at March 31, 2019 will be paid within one year. The table below presents the year-to-date changes
in restructuring liabilities for 2019 and 2018, all of which related to termination costs:</p>
<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="width: 33%; text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="width: 13%; text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="width: 13%; text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="width: 13%; text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="width: 13%; text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="width: 15%; text-align: right; text-indent: 0in; font-size: 11pt"> </td></tr>
<tr style="vertical-align: top">
<td style="border-top: Black 1pt solid; text-align: right; text-indent: 0in"> </td>
<td style="border-top: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>December 31,</b></font></td>
<td style="border-top: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Restructuring</b></font></td>
<td style="border-top: Black 1pt solid; text-align: center; text-indent: 0in"> </td>
<td style="border-top: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Currency</b></font></td>
<td style="border-top: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>March 31, </b></font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>(in thousands)</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>2018</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>charges accrued</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Payments</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>translation /other</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>2019</b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Total termination and other costs</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$5,570 </font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$484 </font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">($876)</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$23 </font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"> $5,201 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td></tr>
</table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0in"> </p>
<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="width: 33%; border-top: Black 1pt solid; text-align: right; text-indent: 0in"> </td>
<td style="width: 13%; border-top: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>December 31,</b></font></td>
<td style="width: 13%; border-top: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Restructuring</b></font></td>
<td style="width: 13%; border-top: Black 1pt solid; text-align: center; text-indent: 0in"> </td>
<td style="width: 13%; border-top: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Currency</b></font></td>
<td style="width: 15%; border-top: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>March 31,</b></font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>(in thousands)</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>2017</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>charges accrued</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Payments</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>translation /other</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>2018</b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Total termination and other costs</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$3,326 </font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$8,573 </font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">($2,051)</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$25 </font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"> $9,873 </font></td></tr>
</table>
-547000
289000
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0in"><b><i>2. Reportable Segments</i></b></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">In accordance with applicable disclosure
guidance for enterprise segments and related information, the internal organization that is used by management for making operating
decisions and assessing performance is used as the basis for our reportable segments.</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">The Machine Clothing (MC) segment
designs and manufactures fabrics and process felts used in the manufacture of all grades of paper products and other industrial
products. We sell our MC products directly to customer end-users in countries across the globe. Our products, manufacturing processes,
and distribution channels for MC are substantially the same in each region of the world in which we operate. We design, manufacture,
and market paper machine clothing (used in the manufacturing of paper, paperboard, tissue and towel) for each section of the paper
machine and for every grade of paper. Paper machine clothing products are customized, consumable products of technologically sophisticated
design that utilize polymeric materials in a complex structure.</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">The Albany Engineered Composites
(AEC) segment, including Albany Safran Composites, LLC (ASC), in which our customer SAFRAN Group (Safran) owns a 10 percent noncontrolling
interest, is a designer and manufacturer of advanced materials-based engineered components for jet engine and airframe applications,
supporting both commercial and military platforms provides highly engineered, advanced composite structures to customers in the
commercial and defense aerospace industries. AEC’s largest program relates to CFM International’s LEAP engine. Under
this program, AEC through ASC, is the exclusive
supplier of advanced composite fan blades and cases under a long-term supply contract. The manufacturing spaces used for the production
of parts under the long-term supply agreement are owned by Safran, and leased to the Company at either a market rent or a minimal
cost. All lease expense is reimbursable by Safran to the Company due to the cost-plus nature of the supply agreement. AEC net sales
to Safran were $56.0 million and $40.8 million in the first quarter of 2019 and 2018, respectively. The total of invoiced receivables,
Contract assets and Noncurrent receivables due from Safran amounted to $107.8 million and $96.2 million as of March 31, 2019 and
December 31, 2018, respectively.</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-right: 0; margin-bottom: 0; text-indent: 0.5in">The following tables show data by reportable
segment, reconciled to consolidated totals included in the financial statements:</p>
<p style="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt; text-indent: 0.5in"> </p>
<table cellspacing="0" cellpadding="0" style="width: 90%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="border-top: Black 1pt solid; text-align: right; text-indent: 0in"> </td>
<td colspan="2" style="border-top: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Three months ended March 31,</b></font></td></tr>
<tr style="vertical-align: top">
<td style="width: 50%; border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>(in thousands)</b></font></td>
<td style="width: 24%; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>2019</b></font></td>
<td style="width: 26%; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>2018</b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Net sales</b></font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Machine Clothing</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$144,334 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$141,773 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Albany Engineered Composites</font></td>
<td style="text-align: right; text-indent: 0in; border-bottom: Black 1pt solid"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>   107,039 </b></font></td>
<td style="text-align: right; text-indent: 0in; border-bottom: Black 1pt solid"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  81,830 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Consolidated total</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$251,373 </b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$223,603 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Operating income/(loss)</b></font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Machine Clothing </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$44,243 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$26,942 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Albany Engineered Composites </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  9,522 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   2,275 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Corporate expenses</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>   (13,672)</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  (12,213)</font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Operating income </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$40,093 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$17,004 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Reconciling items:</font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Interest income</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  (599)</b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   (382)</font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Interest expense</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  5,016 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   4,670 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Other (income)/expense, net</font></td>
<td style="text-align: right; text-indent: 0in; border-bottom: Black 1pt solid"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>   (1,208)</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   1,452 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Income before income taxes</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$36,884 </b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$11,264 </font></td></tr>
</table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt; text-indent: 0in"> </p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-indent: 0.5in">The table below presents restructuring
costs by reportable segment (also see Note 5):</p>
<p style="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt; text-indent: 0.5in"> </p>
<table cellspacing="0" cellpadding="0" style="font: 10pt Calibri, Helvetica, Sans-Serif; width: 60%; border-collapse: collapse; margin-left: 1in">
<tr style="vertical-align: top">
<td style="text-align: right; text-indent: 0.5in; border-top: Black 1px solid"> </td>
<td colspan="2" style="text-align: center; text-indent: 0in; border-top: Black 1px solid"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Three months ended<br />
March 31,</b></font></td></tr>
<tr style="vertical-align: top">
<td style="width: 61%; border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>(in thousands)</b></font></td>
<td style="width: 21%; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>2019</b></font></td>
<td style="width: 18%; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>2018</b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Machine Clothing </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$401 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$8,352 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Albany Engineered Composites </font></td>
<td style="text-align: right; text-indent: 0in; border-bottom: Black 1pt solid"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  83 </b></font></td>
<td style="text-align: right; text-indent: 0in; border-bottom: Black 1pt solid"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   221 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1.5pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"> Total  </font></td>
<td style="border-bottom: Black 1.5pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$484 </b></font></td>
<td style="border-bottom: Black 1.5pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$8,573 </font></td></tr>
</table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-right: 0; margin-bottom: 0; text-indent: 0.5in">We disaggregate revenue earned from
contracts with customers for each of our business segments and reporting units based on the timing of revenue recognition, and
groupings used for internal review purposes.</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-indent: 0.5in">The following table disaggregates revenue
for each reporting unit by timing of revenue recognition:</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 0.5in"> </p>
<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<tr style="vertical-align: top; background-color: white">
<td style="border-top: Black 1pt solid; text-align: right; text-indent: 0in"> </td>
<td style="border-top: Black 1pt solid; text-align: right; text-indent: 0in"> </td>
<td colspan="2" style="border-top: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>For
the three months ended March 31, 2019</b></font></td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt; border-top: Black 1pt solid"> </td></tr>
<tr style="vertical-align: top; background-color: white">
<td colspan="2" style="border-bottom: Black 1pt solid; text-indent: 0in; text-align: left; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>(in thousands)</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Point in Time Revenue<br />
Recognition</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Over Time Revenue <br />
Recognition</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Total</b></font></td></tr>
<tr style="vertical-align: top; background-color: white">
<td style="text-align: right; text-indent: 0in; width: 4%"> </td>
<td style="text-align: right; text-indent: 0in; width: 36%"> </td>
<td style="text-align: right; text-indent: 0in; width: 20%"> </td>
<td style="text-align: right; text-indent: 0in; width: 20%"> </td>
<td style="text-align: right; text-indent: 0in; width: 20%"> </td></tr>
<tr style="vertical-align: top; background-color: white">
<td colspan="2" style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Machine Clothing</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$143,534 </b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$800 </b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$144,334 </b></font></td></tr>
<tr style="vertical-align: top; background-color: white">
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top; background-color: white">
<td colspan="2" style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Albany Engineered Composites</font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top; background-color: white">
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">ASC</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  -    </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  55,442 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  55,442 </b></font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; background-color: white; text-align: right; text-indent: 0in"> </td>
<td style="border-bottom: Black 1pt solid; background-color: white; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Other AEC</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  6,245 </b></font></td>
<td style="border-bottom: Black 1pt solid; background-color: white; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  45,352 </b></font></td>
<td style="border-bottom: Black 1pt solid; background-color: white; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  51,597 </b></font></td></tr>
<tr style="vertical-align: top; background-color: white">
<td colspan="2" style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Total Albany Engineered Composites</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  6,245 </b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  100,794 </b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  107,039 </b></font></td></tr>
<tr style="vertical-align: top; background-color: white; font-size: 14pt">
<td style="text-align: right; text-indent: 0in; font-size: 14pt"> </td>
<td style="text-align: right; text-indent: 0in; font-size: 14pt"> </td>
<td style="text-align: right; text-indent: 0in; font-size: 14pt"> </td>
<td style="text-align: right; text-indent: 0in; font-size: 14pt"> </td>
<td style="text-align: right; text-indent: 0in; font-size: 14pt"> </td></tr>
<tr style="vertical-align: top; background-color: white">
<td colspan="2" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-indent: 0in; font-size: 11pt">Total revenue</td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$149,779 </b></font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$101,594 </b></font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$251,373 </b></font></td></tr>
</table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 0in"> </p>
<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<tr style="vertical-align: top; background-color: white">
<td style="border-top: Black 1pt solid; text-align: right; text-indent: 0in"> </td>
<td style="border-top: Black 1pt solid; text-align: right; text-indent: 0in"> </td>
<td colspan="2" style="border-top: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>For
the three months ended March 31, 2018</b></font></td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt; border-top: Black 1pt solid"> </td></tr>
<tr style="vertical-align: top; background-color: white">
<td colspan="2" style="border-bottom: Black 1pt solid; text-indent: 0in; text-align: left; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>(in thousands)</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Point in Time Revenue Recognition</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Over Time Revenue Recognition</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Total</b></font></td></tr>
<tr style="vertical-align: top; background-color: white">
<td style="text-align: right; text-indent: 0in; width: 4%"> </td>
<td style="text-align: right; text-indent: 0in; width: 36%"> </td>
<td style="text-align: right; text-indent: 0in; width: 20%"> </td>
<td style="text-align: right; text-indent: 0in; width: 20%"> </td>
<td style="text-align: right; text-indent: 0in; width: 20%"> </td></tr>
<tr style="vertical-align: top; background-color: white">
<td colspan="2" style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Machine Clothing</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$140,973 </font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$800 </font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$141,773 </font></td></tr>
<tr style="vertical-align: top; background-color: white">
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top; background-color: white">
<td colspan="2" style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Albany Engineered Composites</font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top; background-color: white">
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">ASC</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    -  </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  40,781 </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  40,781 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; background-color: white; text-align: right; text-indent: 0in"> </td>
<td style="border-bottom: Black 1pt solid; background-color: white; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Other AEC</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  6,040 </font></td>
<td style="border-bottom: Black 1pt solid; background-color: white; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   35,009 </font></td>
<td style="border-bottom: Black 1pt solid; background-color: white; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  41,049 </font></td></tr>
<tr style="vertical-align: top; background-color: white">
<td colspan="2" style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Total Albany Engineered Composites</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  6,040 </font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   75,790 </font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  81,830 </font></td></tr>
<tr style="vertical-align: top; background-color: white">
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top; background-color: white">
<td colspan="2" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-indent: 0in; font-size: 11pt">Total revenue</td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$147,013 </font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$76,590 </font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$223,603 </font></td></tr>
</table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-right: 0; margin-bottom: 0; text-indent: 0.5in">The following table disaggregates MC
segment revenue by significant product groupings (paper machine clothing (PMC) and engineered fabrics), and, for PMC, the geographical
region to which the paper machine clothing was sold:</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0in; text-indent: 0.5in"></p>
<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<tr style="vertical-align: top; background-color: white">
<td style="border-top: Black 1pt solid; text-align: right; text-indent: 0in"> </td>
<td style="border-top: Black 1pt solid; text-align: right; text-indent: 0in"> </td>
<td colspan="2" style="border-top: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>For the three months ended March 31, </b></font></td></tr>
<tr style="vertical-align: top; background-color: white">
<td colspan="2" style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>(in thousands)</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>2019</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>2018</b></font></td></tr>
<tr style="vertical-align: top; background-color: white">
<td style="width: 6%; text-align: right; text-indent: 0in"> </td>
<td style="width: 46%; text-align: right; text-indent: 0in"> </td>
<td style="width: 24%; text-align: right; text-indent: 0in"> </td>
<td style="width: 24%; text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top; background-color: white">
<td colspan="2" style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Americas PMC</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$75,341 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$67,629 </font></td></tr>
<tr style="vertical-align: top; background-color: white">
<td colspan="2" style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Eurasia PMC</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  51,438 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  53,811 </font></td></tr>
<tr style="vertical-align: top; background-color: white">
<td colspan="2" style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Engineered Fabrics</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  17,555 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  20,333 </font></td></tr>
<tr style="vertical-align: top; background-color: white">
<td colspan="2" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Total Machine Clothing Net sales</font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$144,334 </b></font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$141,773 </font></td></tr>
</table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0in; text-indent: 0.5in"> </p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0in; text-indent: 0.5in"><font style="font-weight: normal; font-style: normal">In
accordance with ASC 606-10-50-14, we do not disclose the value of unsatisfied performance obligations for contracts with an original
expected duration of one year or less. Contracts in the MC segment are generally for periods of less than a year. Most contracts
in the AEC segment are short duration firm-fixed-price orders representing performance obligations with an original maturity of
less than one year. Remaining performance obligations on contracts that had an original duration of greater than one year totaled
$90 million and $115 million as of March 31, 2019 and 2018, respectively, and related primarily to firm contracts in the AEC segment.
Of the remaining performance obligations as of March 31, 2019 we expect to recognize as revenue approximately $53 million during
2019, with the remainder to be recognized in between 2020 and 2021.</font></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 0in"><font style="font-weight: normal; font-style: normal"> </font></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0in; text-indent: 0.5in"><font style="font-weight: normal">At
the January 1, 2019 date of adoption of ASC 842, <i>Leases</i>, MC assets increased by $5.6 million, AEC assets increased by $0.5
million, and Corporate assets increased by $1.0 million.</font></p>
<p style="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 0.5in"><b><i> </i></b></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-indent: 0.5in">The following table disaggregates revenue
for each reporting unit by timing of revenue recognition:</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 0.5in"> </p>
<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<tr style="vertical-align: top; background-color: white">
<td style="border-top: Black 1pt solid; text-align: right; text-indent: 0in"> </td>
<td style="border-top: Black 1pt solid; text-align: right; text-indent: 0in"> </td>
<td colspan="2" style="border-top: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>For
the three months ended March 31, 2019</b></font></td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt; border-top: Black 1pt solid"> </td></tr>
<tr style="vertical-align: top; background-color: white">
<td colspan="2" style="border-bottom: Black 1pt solid; text-indent: 0in; text-align: left; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>(in thousands)</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Point in Time Revenue<br />
Recognition</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Over Time Revenue <br />
Recognition</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Total</b></font></td></tr>
<tr style="vertical-align: top; background-color: white">
<td style="text-align: right; text-indent: 0in; width: 4%"> </td>
<td style="text-align: right; text-indent: 0in; width: 36%"> </td>
<td style="text-align: right; text-indent: 0in; width: 20%"> </td>
<td style="text-align: right; text-indent: 0in; width: 20%"> </td>
<td style="text-align: right; text-indent: 0in; width: 20%"> </td></tr>
<tr style="vertical-align: top; background-color: white">
<td colspan="2" style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Machine Clothing</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$143,534 </b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$800 </b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$144,334 </b></font></td></tr>
<tr style="vertical-align: top; background-color: white">
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top; background-color: white">
<td colspan="2" style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Albany Engineered Composites</font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top; background-color: white">
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">ASC</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  -    </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  55,442 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  55,442 </b></font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; background-color: white; text-align: right; text-indent: 0in"> </td>
<td style="border-bottom: Black 1pt solid; background-color: white; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Other AEC</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  6,245 </b></font></td>
<td style="border-bottom: Black 1pt solid; background-color: white; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  45,352 </b></font></td>
<td style="border-bottom: Black 1pt solid; background-color: white; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  51,597 </b></font></td></tr>
<tr style="vertical-align: top; background-color: white">
<td colspan="2" style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Total Albany Engineered Composites</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  6,245 </b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  100,794 </b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  107,039 </b></font></td></tr>
<tr style="vertical-align: top; background-color: white; font-size: 14pt">
<td style="text-align: right; text-indent: 0in; font-size: 14pt"> </td>
<td style="text-align: right; text-indent: 0in; font-size: 14pt"> </td>
<td style="text-align: right; text-indent: 0in; font-size: 14pt"> </td>
<td style="text-align: right; text-indent: 0in; font-size: 14pt"> </td>
<td style="text-align: right; text-indent: 0in; font-size: 14pt"> </td></tr>
<tr style="vertical-align: top; background-color: white">
<td colspan="2" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-indent: 0in; font-size: 11pt">Total revenue</td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$149,779 </b></font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$101,594 </b></font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$251,373 </b></font></td></tr>
</table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 0in"> </p>
<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<tr style="vertical-align: top; background-color: white">
<td style="border-top: Black 1pt solid; text-align: right; text-indent: 0in"> </td>
<td style="border-top: Black 1pt solid; text-align: right; text-indent: 0in"> </td>
<td colspan="2" style="border-top: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>For
the three months ended March 31, 2018</b></font></td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt; border-top: Black 1pt solid"> </td></tr>
<tr style="vertical-align: top; background-color: white">
<td colspan="2" style="border-bottom: Black 1pt solid; text-indent: 0in; text-align: left; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>(in thousands)</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Point in Time Revenue Recognition</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Over Time Revenue Recognition</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Total</b></font></td></tr>
<tr style="vertical-align: top; background-color: white">
<td style="text-align: right; text-indent: 0in; width: 4%"> </td>
<td style="text-align: right; text-indent: 0in; width: 36%"> </td>
<td style="text-align: right; text-indent: 0in; width: 20%"> </td>
<td style="text-align: right; text-indent: 0in; width: 20%"> </td>
<td style="text-align: right; text-indent: 0in; width: 20%"> </td></tr>
<tr style="vertical-align: top; background-color: white">
<td colspan="2" style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Machine Clothing</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$140,973 </font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$800 </font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$141,773 </font></td></tr>
<tr style="vertical-align: top; background-color: white">
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top; background-color: white">
<td colspan="2" style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Albany Engineered Composites</font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top; background-color: white">
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">ASC</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    -  </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  40,781 </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  40,781 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; background-color: white; text-align: right; text-indent: 0in"> </td>
<td style="border-bottom: Black 1pt solid; background-color: white; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Other AEC</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  6,040 </font></td>
<td style="border-bottom: Black 1pt solid; background-color: white; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   35,009 </font></td>
<td style="border-bottom: Black 1pt solid; background-color: white; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  41,049 </font></td></tr>
<tr style="vertical-align: top; background-color: white">
<td colspan="2" style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Total Albany Engineered Composites</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  6,040 </font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   75,790 </font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  81,830 </font></td></tr>
<tr style="vertical-align: top; background-color: white">
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top; background-color: white">
<td colspan="2" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-indent: 0in; font-size: 11pt">Total revenue</td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$147,013 </font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$76,590 </font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$223,603 </font></td></tr></table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-right: 0; margin-bottom: 0; text-indent: 0.5in">The following table disaggregates MC
segment revenue by significant product groupings (paper machine clothing (PMC) and engineered fabrics), and, for PMC, the geographical
region to which the paper machine clothing was sold:</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0in; text-indent: 0.5in"></p>
<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<tr style="vertical-align: top; background-color: white">
<td style="border-top: Black 1pt solid; text-align: right; text-indent: 0in"> </td>
<td style="border-top: Black 1pt solid; text-align: right; text-indent: 0in"> </td>
<td colspan="2" style="border-top: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>For the three months ended March 31, </b></font></td></tr>
<tr style="vertical-align: top; background-color: white">
<td colspan="2" style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>(in thousands)</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>2019</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>2018</b></font></td></tr>
<tr style="vertical-align: top; background-color: white">
<td style="width: 6%; text-align: right; text-indent: 0in"> </td>
<td style="width: 46%; text-align: right; text-indent: 0in"> </td>
<td style="width: 24%; text-align: right; text-indent: 0in"> </td>
<td style="width: 24%; text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top; background-color: white">
<td colspan="2" style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Americas PMC</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$75,341 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$67,629 </font></td></tr>
<tr style="vertical-align: top; background-color: white">
<td colspan="2" style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Eurasia PMC</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  51,438 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  53,811 </font></td></tr>
<tr style="vertical-align: top; background-color: white">
<td colspan="2" style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Engineered Fabrics</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  17,555 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  20,333 </font></td></tr>
<tr style="vertical-align: top; background-color: white">
<td colspan="2" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Total Machine Clothing Net sales</font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$144,334 </b></font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$141,773 </font></td></tr></table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0in"><b><i>9. Accumulated Other Comprehensive
Income (AOCI) </i></b></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">The table below presents changes
in the components of AOCI for the period December 31, 2018 to March 31, 2019:</p>
<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-indent: 0in; text-align: left; vertical-align: bottom; width: 45%"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>(in thousands)</b></font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom; width: 14%"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Translation<br />
adjustments</b></font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom; width: 14%"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Pension and<br />
postretirement<br />
liability<br />
adjustments</b></font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom; width: 11%"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Derivative<br />
valuation<br />
adjustment</b></font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom; width: 16%"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Total Other<br />
Comprehensive<br />
Income</b></font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>December 31, 2018</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>($115,976)</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>($47,109)</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$4,697 </b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>($158,388)</b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Other comprehensive income/(loss) before reclassifications</font></td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  (654)</font></td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  (152)</font></td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  (2,514)</font></td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  (3,320)</font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Interest expense related to swaps reclassified to the Consolidated Statements of Income, net of tax</font></td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  - </font></td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   - </font></td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  (337)</font></td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   (337)</font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Pension and postretirement liability adjustments reclassified to Consolidated Statements of Income, net of tax</font></td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  - </font></td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  11 </font></td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  - </font></td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   11 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Adjustment
related to prior period change in opening valuation allowance</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  - </font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  (1,346)</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  - </font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   (1,346)</font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Net current period other comprehensive income</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  (654)</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  (1,487)</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  (2,851)</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  (4,992)</font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>March 31, 2019</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>($116,630)</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>($48,596)</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$1,846 </b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>($163,380)</b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt; vertical-align: bottom"> </td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt; vertical-align: bottom"> </td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt; vertical-align: bottom"> </td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt; vertical-align: bottom"> </td></tr>
</table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">The table below presents changes
in the components of AOCI for the period December 31, 2017 to March 31, 2018:</p>
<table cellspacing="0" cellpadding="0" style="font: 10pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="width: 45%; text-align: left; text-indent: 0in; font-size: 11pt; vertical-align: bottom"> </td>
<td style="width: 14%; text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="width: 14%; text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="width: 11%; text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="width: 16%; text-align: right; text-indent: 0in; font-size: 11pt"> </td></tr>
<tr style="vertical-align: top">
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-indent: 0in; text-align: left; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>(in thousands)</b></font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Translation<br />
adjustments</b></font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Pension and<br />
postretirement<br />
liability<br />
adjustments</b></font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Derivative<br />
valuation<br />
adjustment</b></font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Total Other<br />
Comprehensive<br />
Income</b></font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in; text-align: left; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>December 31, 2017</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>($87,318)</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>($50,536)</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$1,953 </b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>($135,901)</b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in; text-align: left; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Other comprehensive income/(loss) before reclassifications</font></td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  17,646 </font></td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   (141)</font></td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  4,343 </font></td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  21,848 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in; text-align: left; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Interest expense related to swaps reclassified to the Consolidated Statements of Income, net of tax</font></td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   - </font></td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   - </font></td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  137 </font></td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  137 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in; text-align: left; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Pension and postretirement liability adjustments reclassified to Consolidated Statements of Income, net of tax</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   - </font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   128 </font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   - </font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  128 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in; text-align: left; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Net current period other comprehensive income</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  17,646 </font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   (13)</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  4,480 </font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   22,113 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in; text-align: left; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>March 31, 2018</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>($69,672)</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>($50,549)</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$6,433 </b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>($113,788)</b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-align: left; text-indent: 0in; font-size: 11pt; vertical-align: bottom"> </td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td></tr>
</table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-right: 0; margin-bottom: 0; text-indent: 0.5in">The components of our Accumulated
Other Comprehensive Income that are reclassified to the Statement of Income relate to our pension and postretirement plans and
interest rate swaps.</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in"><font style="font-weight: normal; font-style: normal"> </font></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 6pt 0.5in; text-indent: 0.5in">The table below presents the expense/(income)
amounts reclassified, and the line items of the Consolidated Statements of Income that were affected for the three months ended
March 31, 2019 and 2018.</p>
<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="border-top: Black 1pt solid; text-align: right; text-indent: 0in"> </td>
<td colspan="2" style="border-top: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Three months ended<br />
March 31, </b></font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in; width: 76%"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>(in thousands)</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; width: 13%"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>2019</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; width: 11%"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>2018</b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Pretax Derivative valuation reclassified from Accumulated Other Comprehensive Income:</b></font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in; padding-left: 10pt">
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0pt; text-indent: 0in">Expense related to interest rate swaps included
in Income</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0pt; text-indent: 0in">before taxes (a)</p></td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>($452)</b></font></td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$180 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Income tax effect</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>115 </b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">(43)</font></td></tr>
<tr style="vertical-align: top">
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Effect on net income due to items reclassified from Accumulated Other Comprehensive Income</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>($337)</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$137 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Pretax pension and postretirement liabilities reclassified from Accumulated Other Comprehensive Income:</b></font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Amortization of prior service credit</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  (1,105)</b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  (1,114)</font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Amortization of net actuarial loss</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  1,121 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  1,297 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-top: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Total pretax amount reclassified (b)</font></td>
<td style="border-top: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>16 </b></font></td>
<td style="border-top: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">183 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Income tax effect</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>(5)</b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">(55)</font></td></tr>
<tr style="vertical-align: top">
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Effect on net income due to items reclassified from Accumulated Other Comprehensive Income</font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$11 </b></font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$128 </font></td></tr>
</table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 6pt 0.5in; text-indent: 0in"></p>
<table cellpadding="0" cellspacing="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><font style="font: 10pt Arial, Helvetica, Sans-Serif">(a)</font></td><td><font style="font: 10pt Arial, Helvetica, Sans-Serif">Included
in Interest expense, net, are payments related to the interest rate swap agreements and amortization of swap buyouts (see Notes
15 and 16).</font></td>
</tr></table>
<table cellpadding="0" cellspacing="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><font style="font: 10pt Arial, Helvetica, Sans-Serif">(b)</font></td><td><font style="font: 10pt Arial, Helvetica, Sans-Serif">These
accumulated other comprehensive income components are included in the computation of net periodic cost (see Note 4).</font></td></tr></table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">The table below presents changes
in the components of AOCI for the period December 31, 2018 to March 31, 2019:</p>
<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-indent: 0in; text-align: left; vertical-align: bottom; width: 45%"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>(in thousands)</b></font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom; width: 14%"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Translation<br />
adjustments</b></font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom; width: 14%"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Pension and<br />
postretirement<br />
liability<br />
adjustments</b></font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom; width: 11%"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Derivative<br />
valuation<br />
adjustment</b></font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom; width: 16%"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Total Other<br />
Comprehensive<br />
Income</b></font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>December 31, 2018</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>($115,976)</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>($47,109)</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$4,697 </b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>($158,388)</b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Other comprehensive income/(loss) before reclassifications</font></td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  (654)</font></td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  (152)</font></td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  (2,514)</font></td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  (3,320)</font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Interest expense related to swaps reclassified to the Consolidated Statements of Income, net of tax</font></td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  - </font></td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   - </font></td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  (337)</font></td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   (337)</font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Pension and postretirement liability adjustments reclassified to Consolidated Statements of Income, net of tax</font></td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  - </font></td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  11 </font></td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  - </font></td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   11 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Adjustment
related to prior period change in opening valuation allowance</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  - </font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  (1,346)</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  - </font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   (1,346)</font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Net current period other comprehensive income</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  (654)</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  (1,487)</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  (2,851)</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  (4,992)</font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>March 31, 2019</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>($116,630)</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>($48,596)</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$1,846 </b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>($163,380)</b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt; vertical-align: bottom"> </td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt; vertical-align: bottom"> </td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt; vertical-align: bottom"> </td>
<td style="text-align: right; text-indent: 0in; font-size: 11pt; vertical-align: bottom"> </td></tr>
</table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">The table below presents changes
in the components of AOCI for the period December 31, 2017 to March 31, 2018:</p>
<table cellspacing="0" cellpadding="0" style="font: 10pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="width: 45%; text-align: left; text-indent: 0in; font-size: 11pt; vertical-align: bottom"> </td>
<td style="width: 14%; text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="width: 14%; text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="width: 11%; text-align: right; text-indent: 0in; font-size: 11pt"> </td>
<td style="width: 16%; text-align: right; text-indent: 0in; font-size: 11pt"> </td></tr>
<tr style="vertical-align: top">
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-indent: 0in; text-align: left; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>(in thousands)</b></font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Translation<br />
adjustments</b></font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Pension and<br />
postretirement<br />
liability<br />
adjustments</b></font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Derivative<br />
valuation<br />
adjustment</b></font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Total Other<br />
Comprehensive<br />
Income</b></font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in; text-align: left; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>December 31, 2017</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>($87,318)</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>($50,536)</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$1,953 </b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>($135,901)</b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in; text-align: left; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Other comprehensive income/(loss) before reclassifications</font></td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  17,646 </font></td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   (141)</font></td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  4,343 </font></td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  21,848 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in; text-align: left; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Interest expense related to swaps reclassified to the Consolidated Statements of Income, net of tax</font></td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   - </font></td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   - </font></td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  137 </font></td>
<td style="text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  137 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in; text-align: left; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Pension and postretirement liability adjustments reclassified to Consolidated Statements of Income, net of tax</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   - </font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   128 </font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   - </font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  128 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in; text-align: left; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Net current period other comprehensive income</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  17,646 </font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   (13)</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  4,480 </font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   22,113 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in; text-align: left; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>March 31, 2018</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>($69,672)</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>($50,549)</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$6,433 </b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>($113,788)</b></font></td></tr></table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0in"><b><i>12. Contract Assets and Liabilities</i></b></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">Contract assets includes unbilled
amounts typically resulting from sales under contracts when the cost-to-cost method of revenue recognition is utilized, and revenue
recognized exceeds the amount billed to the customer. Contract assets are transferred to Accounts receivable, net when the entitlement
to pay becomes unconditional. Contract liabilities include advance payments and billings in excess of revenue recognized. Contract
liabilities are included in Accrued liabilities in the Consolidated Balance Sheets.</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">Contract assets and Contract liabilities
are reported on the Consolidated Balance Sheets in a net position on a contract-by-contract basis at the end of each reporting
period. As of March 31, 2019 and December 31, 2018 Contract assets and contract liabilities consisted of the following:</p>
<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="width: 66%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: left; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>(in thousands)  </b></font></td>
<td style="width: 17%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; vertical-align: bottom">
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; text-align: center; margin-bottom: 0"><b>March 31,</b></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; text-align: center; margin-bottom: 0"><b>2019</b></p></td>
<td style="width: 17%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; vertical-align: bottom">
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; text-align: center; margin-bottom: 0"><b>December 31,</b></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; text-align: center; margin-bottom: 0"><b>2018</b></p></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Contract assets</font></td>
<td style="border-bottom: Black 1pt solid; text-align: center"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$57,869 </b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: center"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$57,447 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Contract liabilities</font></td>
<td style="border-bottom: Black 1pt solid; text-align: center"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>   9,865</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: center"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   9,025 </font></td></tr>
</table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0in"> </p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">Contract assets increased $0.4 million
during the three month period ended March 31, 2019. The increase was primarily due to an increase in unbilled revenue related to
the satisfaction of performance obligations, in excess of the amounts billed to customers. There were no impairment losses related
to our Contract assets during the three month period ended March 31, 2019.</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">Contract liabilities increased $0.8
million during the three month period ended March 31, 2019, primarily due to increased billings in excess of revenue recognized.
Revenue recognized for the three month period ended March 31, 2019, that was included in the Contract liability balance as of December
31, 2018 was $3.7 million, and included revenue in the MC and AEC segments.</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">As of March 31, 2019 and December 31, 2018 Contract assets and contract liabilities consisted of the following:</p>
<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="width: 66%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: left; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>(in thousands)  </b></font></td>
<td style="width: 17%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; vertical-align: bottom">
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; text-align: center; margin-bottom: 0"><b>March 31,</b></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; text-align: center; margin-bottom: 0"><b>2019</b></p></td>
<td style="width: 17%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; vertical-align: bottom">
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; text-align: center; margin-bottom: 0"><b>December 31,</b></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; text-align: center; margin-bottom: 0"><b>2018</b></p></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Contract assets</font></td>
<td style="border-bottom: Black 1pt solid; text-align: center"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$57,869 </b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: center"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$57,447 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Contract liabilities</font></td>
<td style="border-bottom: Black 1pt solid; text-align: center"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>   9,865</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: center"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   9,025 </font></td></tr></table>
<p style="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 0.5in"></p>
<p style="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt; text-indent: 0"><b><i>3. Leases </i></b></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in"><font style="font-weight: normal">Effective
January 1, 2019, we adopted the provisions of ASC 842, <i>Leases</i>, using the effective date (or modified retrospective) approach
for transition. Under this transition method, periods prior to 2019 have not been restated and the cumulative effect of initially
applying the new standard was recorded as an adjustment to Retained earnings at January 1, 2019. </font></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">The new standard is intended to
increase transparency and comparability among organizations by requiring the recognition of right of use (“ROU”) assets
and lease liabilities on the balance sheet. Most prominent among the changes in the standard is the recognition of ROU assets and
lease liabilities by lessees for those leases classified as operating leases. Under the standard, disclosures are required to meet
the objective of enabling users of financial statements to assess the amount, timing, and uncertainty of cash flows arising from
leases. <font style="font-weight: normal">We applied the new accounting standard to leases existing at the date of initial application
on January 1, 2019.</font></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in"><font style="font-weight: normal; font-style: normal">We
elected the available package of practical expedients, which permitted us not to reassess under the new standard our prior conclusions
about lease identification, lease classification and initial direct costs. We implemented processes and internal controls to enable
the preparation of financial information on adoption. </font></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0in; text-indent: 0.5in">The most significant impact resulting
from the adoption of the new standard was the recognition of ROU assets and lease liabilities for operating leases on our balance
sheet for our real estate and automobile operating leases, in addition to the derecognition and reassessment of assets and liabilities
related to our primary manufacturing facility in Salt Lake City, Utah (SLC lease), which had been accounted for as a build-to-suit
lease with a failed sale leaseback. For that lease, t<font style="font-weight: normal">ransitional guidance required the derecognition
of existing assets and liabilities and a reassessment of lease classification. We determined that the lease met the criteria for
recording as a finance lease and we determined the January
1, 2019 values of the ROU asset and lease liability on the basis of that reassessment. The change in the SLC lease-related assets
and liabilities resulted in a $0.3 million pre-tax reduction to retained earnings at the date of adoption. </font></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in"><font style="font-weight: normal">The
table below presents the cumulative effect of changes made to our December 31, 2018 Balance Sheet as a result of the adoption of
ASC 842,<i> Leases</i>:</font></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; text-indent: 0in">ALBANY INTERNATIONAL CORP.</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; text-indent: 0in">CONSOLIDATED BALANCE SHEET</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; text-indent: 0in">(in thousands, except share
data)</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; text-indent: 0in">(unaudited)</p>
<table cellspacing="0" cellpadding="0" style="font: 10pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="width: 45%; text-indent: 0in"> </td>
<td style="width: 14%; text-align: center; text-indent: 0in"> </td>
<td style="width: 2%; text-align: center; text-indent: 0in"> </td>
<td style="width: 14%; text-align: center; text-indent: 0in"> </td>
<td style="width: 2%; text-align: center; text-indent: 0in"> </td>
<td style="width: 14%; text-align: center; text-indent: 0in"> </td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"> </td>
<td style="text-align: center; text-indent: 0in"> </td>
<td style="text-align: center; text-indent: 0in"> </td>
<td style="text-align: center; text-indent: 0in"> </td>
<td style="text-align: center; text-indent: 0in"> </td>
<td style="text-align: center; text-indent: 0in"> </td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: top">
<td style="text-align: center; text-indent: 0in"> </td>
<td style="border-bottom: black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">As previously<br />
reported at <br />
December 31, <br />
2018</font></td>
<td style="text-align: center; text-indent: 0in; vertical-align: bottom"> </td>
<td style="border-bottom: black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Adjustments<br />
Increase/<br />
(decrease)</font></td>
<td style="text-align: center; text-indent: 0in; vertical-align: bottom"> </td>
<td style="border-bottom: black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Opening <br />
balance, as <br />
adjusted, <br />
January 1, 2019</font></td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">ASSETS</font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: top; background-color: silver">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Cash and cash equivalents</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$197,755 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$ - </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$197,755 </font></td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Accounts receivable, net</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    223,176 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      - </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    223,176 </font></td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: top; background-color: #969696">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Contract assets</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">     57,447 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      - </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">     57,447 </font></td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Inventories</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">     85,904 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      - </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">     85,904 </font></td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: top; background-color: #969696">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Income taxes prepaid and receivable</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">     7,473 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      - </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">     7,473 </font></td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Prepaid expenses and other current assets</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      21,294 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      (370)</font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">     20,924 </font></td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: top; background-color: #969696">
<td style="text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Total current assets</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">593,049 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">(370)</font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">592,679 </font></td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: top">
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Property, plant and equipment, net</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    462,055 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">     (6,144)</font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">     455,911 </font></td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: top; background-color: #969696">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Intangibles, net</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">     49,206 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      - </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">     49,206 </font></td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Goodwill</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    164,382 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      - </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    164,382 </font></td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: top; background-color: #969696">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Deferred income taxes</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">     62,622 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      (20)</font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">     62,602 </font></td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"> Noncurrent receivables</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      45,061 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      - </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      45,061 </font></td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: top; background-color: #969696">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Other assets</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    41,617 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    13,615 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">     55,232 </font></td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Total assets</font></td>
<td style="border-bottom: black 2.25pt double; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$1,417,992 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="border-bottom: black 2.25pt double; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$7,081 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="border-bottom: black 2.25pt double; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$1,425,073 </font></td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: top">
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">LIABILITIES AND SHAREHOLDERS' EQUITY</font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: top; background-color: #969696">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Notes and loans payable</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$- </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$- </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$- </font></td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Accounts payable</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">     52,246 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      - </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">     52,246 </font></td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: top; background-color: #969696">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Accrued liabilities</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    129,030 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">     4,964 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    133,994 </font></td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Current maturities of long-term debt</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      1,224 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">     (1,206)</font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      18 </font></td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: top; background-color: #969696">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Income taxes payable</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">     6,806 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      - </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">     6,806 </font></td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Total current liabilities</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">189,306 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">3,758 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">193,064 </font></td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: top">
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: top; background-color: #969696">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Long-term debt</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    523,707 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    (24,680)</font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    499,027 </font></td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Other noncurrent liabilities</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">     88,277 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">     27,968 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">     116,245 </font></td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: top; background-color: #969696">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Deferred taxes and other liabilities</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">     8,422 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      - </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">     8,422 </font></td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Total liabilities</font></td>
<td style="border-bottom: black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">809,712 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="border-bottom: black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">7,046 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="border-bottom: black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">816,758 </font></td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: top">
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">SHAREHOLDERS' EQUITY</font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: top; background-color: #969696">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Preferred stock, par value $5.00 per share;</font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: top; background-color: #969696">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    authorized 2,000,000 shares; none issued</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      - </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      - </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      - </font></td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Class A Common Stock, par value $.001 per share;</font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    authorized 100,000,000 shares; issued 37,450,329 in 2018</font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    and 37,395,753 in 2017</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      37 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      - </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      37 </font></td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: top; background-color: #969696">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Class B Common Stock, par value $.001 per share;</font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: top; background-color: #969696">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    authorized 25,000,000 shares; issued and </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: top; background-color: #969696">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    outstanding 3,233,998 in 2018 and 2017</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">     3 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      - </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">     3 </font></td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Additional paid in capital</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    430,555 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      - </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    430,555 </font></td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: top; background-color: #969696">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Retained earnings</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    589,645 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      35 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    589,680 </font></td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Accumulated items of other comprehensive income:</font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    Translation adjustments</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      (115,976)</font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      - </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      (115,976</font></td>
<td style="width: 1%">)</td></tr>
<tr style="vertical-align: top; background-color: #969696">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    Pension and postretirement liability adjustments</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    (47,109)</font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      - </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    (47,109</font></td>
<td style="width: 1%">)</td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    Derivative valuation adjustment</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">     4,697 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      - </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">     4,697 </font></td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: top; background-color: #969696">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Treasury stock (Class A), at cost 8,418,620 shares in 2018</font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: top; background-color: #969696">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    and 8,431,335 shares in 2017 </font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    (256,603)</font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      - </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    (256,603</font></td>
<td style="width: 1%">)</td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Total Company shareholders' equity</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    605,249 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      35 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    605,284 </font></td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: top; background-color: #969696">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Noncontrolling interest</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      3,031 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      - </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">      3,031 </font></td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"> Total equity</font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">608,280 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">35 </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">608,315 </font></td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: top; background-color: #969696">
<td style="text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Total liabilities and shareholders' equity</font></td>
<td style="border-bottom: black 2.25pt double; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$1,417,992</font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="border-bottom: black 2.25pt double; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$7,081</font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="border-bottom: black 2.25pt double; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$1,425,073</font></td>
<td style="width: 1%"> </td></tr>
</table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0pt; text-indent: 0.5in"><font style="font-weight: normal; font-style: normal"> </font></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in"><font style="font-weight: normal; font-style: normal">Adoption
of the standard had no impact to cash from or used in operating, investing, or financing activities in our Consolidated Statements
of Cash Flows. </font></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in"><font style="font-weight: normal; font-style: normal">Significant
changes to our accounting policies as a result of adopting the new standard are discussed below.</font></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in"><font style="font-weight: normal; font-style: normal">We
determine if an arrangement is a lease at inception. A contract is, or contains a lease if the contract conveys the right to control
the use of an identified asset for a period of time in exchange for consideration. To assess whether a contract conveys the right
to control the use of an identified asset, we would assess whether:</font></p>
<table cellpadding="0" cellspacing="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><font style="font: normal 10pt Symbol">·</font></td><td><font style="font: normal 10pt Arial, Helvetica, Sans-Serif">The
contract involves the use of an identified asset. This may be specified explicitly or implicitly, and should be physically distinct
or represent substantially all of the capacity of a physically distinct asset,</font></td>
</tr></table>
<table cellpadding="0" cellspacing="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><font style="font: normal 10pt Symbol">·</font></td><td><font style="font: normal 10pt Arial, Helvetica, Sans-Serif">We
have the right to obtain substantially all of the economic benefits from use of the asset throughout the period of use, and</font></td>
</tr></table>
<table cellpadding="0" cellspacing="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><font style="font: normal 10pt Symbol">·</font></td><td><font style="font: normal 10pt Arial, Helvetica, Sans-Serif">We
have the right to direct the use of the asset. We have this right when we have the decision-making rights that are most relevant
to changing how and for what purpose the asset is used.</font></td>
</tr></table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0in; text-indent: 0.5in"> </p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in"><font style="font-weight: normal">Judgement
is required in the application of ASC 842, <i>Leases</i>, including in determining whether a contract contains a lease, the appropriate
classification, allocation of consideration, and the determination of the discount rate for the lease. Key estimates and judgments
include how the Company determines (1) the discount rate it uses to discount the unpaid lease payments to present value, (2) lease
term and (3) lease payments.</font></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in"><font style="font-weight: normal">We
are generally the lessee in our lease transactions. For periods ending after December 31, 2018, lessees will be required to recognize
a lease liability and an ROU asset for leases with terms greater than 12 months</font>, in accordance with the practical expedient
that is available for ongoing accounting<font style="font-weight: normal">. </font></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">ROU assets represent the right to
use an underlying asset for the lease term and lease liabilities represent an obligation to make lease payments arising from the
lease. Operating lease ROU assets and liabilities are recognized on the commencement date based on the present value of lease payments
over the lease term, using the rate implicit in the lease. If that rate is not readily determinable, the rate is based on the Company’s
incremental borrowing rate. The operating lease ROU asset also includes any lease payments made and excludes lease incentives.
Our lease terms may include options to extend or terminate the lease. Our ROU assets include the values associated with the additional
periods when it is reasonably certain that we will exercise the option. We review the carrying value of ROU assets for impairment
whenever events and circumstances indicate that the carrying value of an asset group may not be recoverable from the estimated
future cash flows expected to result from its use and eventual disposition.</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in"><font style="font-weight: normal; font-style: normal">We
have lease agreements with lease and non-lease components. For most leases, we account for the lease and non-lease components as
a single lease component, in accordance with the practical expedient that is available for ongoing accounting. Additionally, for
certain leases, such as for vehicles, we apply a portfolio approach. New leases will be classified as financing or operating, with
classification affecting the pattern and classification of expense recognition in the income statement. Expenses related to operating
leases will be recognized on a straight-line basis, while those determined to be financing leases will be recognized following
a front-loaded expense profile, in which interest and amortization are presented separately in the income statement. </font></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in"><font style="font-weight: normal; font-style: normal">Operating
lease ROU assets are included in Other assets in the Consolidated Balance Sheets and Operating lease liabilities are included in
Accrued liabilities and Other noncurrent liabilities in the Consolidated Balance Sheets. Finance lease ROU assets are included
in Property, plant, and equipment,
net in the Consolidated Balance Sheets and Finance lease liabilities are included in Accrued liabilities and Other noncurrent liabilities
in the Consolidated Balance Sheets.</font></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 9pt 0 0 0in; text-align: justify; text-indent: 0.5in">We have operating
and finance leases for offices, manufacturing facilities, warehouses, vehicles, and certain equipment. Our leases have remaining
lease terms of 1 year to 11 years, some of which include options to extend the leases for up to 10 years, and some of which include
options to terminate the leases within 1 year.</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 9pt 0 0 0in; text-align: justify; text-indent: 0.5in">The components
of lease expense were as follows:</p>
<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="width: 78%; border-bottom: Black 1pt solid; text-indent: 0in; border-top: Black 1pt solid; text-align: left; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>(in thousands)</b></font></td>
<td style="width: 22%; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; border-top: Black 1pt solid"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>For the three<br />
months ended<br />
March 31, 2019</b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Finance lease</font></td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Amortization of right-of-use asset</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b> $ 253 </b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Interest on lease liabilities</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  399 </b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Operating lease</font></td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Fixed lease cost</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  1,217 </b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Variable lease cost</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  57 </b></font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Short-term lease cost</font></td>
<td style="text-align: right; text-indent: 0in; border-bottom: Black 1pt solid"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  332 </b></font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Total lease expense</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b> $ 2,258 </b></font></td></tr>
</table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in"><font style="font-weight: normal; font-style: normal"> </font></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in"><font style="font-weight: normal; font-style: normal">Lease
expense for the same period of 2018 was $2.1 million. </font></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">Supplemental cash flow information
related to leases was as follows:</p>
<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="width: 78%; border-bottom: Black 1pt solid; text-indent: 0in; border-top: Black 1pt solid; text-align: left; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>(in thousands)</b></font></td>
<td style="width: 22%; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; border-top: Black 1pt solid"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>For the three<br />
months ended <br />
March 31, 2019</b></font></td></tr>
<tr style="vertical-align: top">
<td colspan="2" style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Cash paid for amounts included in the measurement of lease liabilities:</font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Operating cash flows from operating leases</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b> $ 1,191 </b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Operating cash flows from finance leases</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>   399 </b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Financing cash flows from finance leases</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>   400 </b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td colspan="2" style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Right-of-use assets obtained in exchange for lease obligations:</font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Operating leases</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b> $ 412 </b></font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Finance leases</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>   -  </b></font></td></tr>
</table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in"><font style="font-weight: normal; font-style: normal"> </font></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in"><font style="font-weight: normal; font-style: normal">Supplemental
balance sheet information related to leases was as follows:</font></p>
<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="width: 82%; border-bottom: Black 1.5pt solid; text-align: right; text-indent: 0in"> </td>
<td style="width: 18%; border-bottom: Black 1.5pt solid; text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in; text-align: left; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>(in thousands)</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>March 31, 2019</b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Operating leases</b></font></td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Right of use assets included in Other assets </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b> $ 12,969 </b></font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"> </td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Lease liabilities included in </font></td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Accrued liabilities</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b> $ 4,182 </b></font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Other noncurrent liabilities</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>   8,935 </b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Total operating lease liabilities</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b> $ 13,117 </b></font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1.5pt solid; text-indent: 0in"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Finance leases</b></font></td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Right of use assets included in Property, plant and equipment, net</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b> $ 10,890 </b></font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"> </td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Lease liabilities included in </font></td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Accrued liabilities</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b> $ 1,216 </b></font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  Other noncurrent liabilities</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  18,564 </b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Total finance lease liabilities</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b> $ 19,780 </b></font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1.5pt solid; text-indent: 0in"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: right; text-indent: 0in"> </td></tr>
</table>
<p style="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in"> </p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in"><font style="font-weight: normal; font-style: normal">Additional
information for leases existing at March 31, 2019 was as follows:</font></p>
<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="width: 83%; text-indent: 0in; border-top: Black 1.5pt solid"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Weighted average remaining lease term</b></font></td>
<td style="width: 17%; text-align: right; text-indent: 0in; border-top: Black 1.5pt solid"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Operating leases</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>5 years</b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Finance leases</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>11 years</b></font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"> </td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Weighted average discount rate</b></font></td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Operating leases</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>6.1%</b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Finance leases</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>8.0%</b></font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1.5pt solid; text-indent: 0in"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: right; text-indent: 0in"> </td></tr>
</table>
<p style="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in"> </p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in"><font style="font-weight: normal; font-style: normal">Maturities
of lease liabilities as of March 31, 2019 were as follows:</font></p>
<table cellspacing="0" cellpadding="0" align="center" style="width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="width: 50%; border-bottom: Black 1pt solid; text-indent: 0in; border-top: Black 1px solid"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>(in thousands)</b></font></td>
<td style="width: 25%; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; border-top: Black 1px solid"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Operating leases</b></font></td>
<td style="width: 25%; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; border-top: Black 1px solid"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Finance lease</b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Year ending December 31,</font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">2019</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b> $ 3,487 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b> $ 2,057 </b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">2020</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  4,068 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  2,790 </b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">2021</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  2,033 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  2,790 </b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">2022</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>   1,419 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  2,838 </b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">2023</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>   1,346 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  3,004 </b></font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Thereafter</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  3,047 </b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  15,512 </b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Total lease payments</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  15,400 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  28,991 </b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Less imputed interest</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  (2,283)</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>  (9,211)</b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Total</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b> $ 13,117 </b></font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b> $ 19,780 </b></font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1.5pt solid; text-indent: 0in"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: right; text-indent: 0in"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: right; text-indent: 0in"> </td></tr>
</table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in"><font style="font-weight: normal; font-style: normal"> </font></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in"><font style="font-weight: normal; font-style: normal">The
finance lease liability includes the SLC lease described above, but excludes additional manufacturing space that was included in
the September 2018 modification of that lease. We will take control of the additional space during the fourth quarter of 2019,
which will be the commencement of this lease component, at which time the lease liability and ROU asset will be recorded. We will
have control of the additional space through 2029 and the additional space will increase gross cash outflows during that period
by $6.1 million. </font></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in"><font style="font-weight: normal; font-style: normal">As
of December 31, 2018, future rental payments required under operating leases with initial or remaining non-cancelable lease terms
in excess of one year, were: 2019, $4.6 million; 2020, $3.2 million; 2021, $2.1 million; 2022, $1.5 million; and 2023 and thereafter,
$6.5 million. </font></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in"><font style="font-weight: normal; font-style: normal">As
of December 31, 2018, the following schedule presents future minimum annual payments under the SLC lease finance obligation, and
the present value of the minimum payments:</font></p>
<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="width: 66%; text-align: right; text-indent: 0in; border-bottom: Black 1pt solid"> </td>
<td style="width: 34%; text-align: right; text-indent: 0in; border-bottom: Black 1pt solid"> </td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"> </td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>(in thousands)</b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Year ending December 31,</font></td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">2019</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"> $ 2,451 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">2020</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   2,974 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">2021</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   2,990 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">2022</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   3,054 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">2023</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   3,277 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Thereafter</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   18,930 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Total minimum payments</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   33,676 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Less imputed interest</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   (7,790)</font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Total</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"> $ 25,886 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1.5pt solid; text-indent: 0in"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: right; text-indent: 0in"> </td></tr>
</table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in"><font style="font-weight: normal; font-style: normal"> </font></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in"><font style="font-weight: normal; font-style: normal">As
of December 31, 2018, the capitalized value associated with the SLC lease was included in Property, plant, and equipment, net at
a value of $17.3 million, which included a gross cost of $20.8 million, and Accumulated depreciation of $3.5 million.</font></p>
P1Y
6100000
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 0"><b><i>14. Goodwill and Other Intangible Assets
</i></b></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 0in"><b> </b></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0.09in 0in; text-indent: 0.5in">Goodwill and intangible assets with
indefinite useful lives are not amortized, but are tested for impairment at least annually. Goodwill represents the excess of the
purchase price over the fair value of the net tangible and identifiable intangible assets acquired in each business combination.
Our reportable segments are consistent with our operating segments.</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0.12in 0in; text-indent: 0.5in">Determining the fair value of a reporting
unit requires the use of significant estimates and assumptions, including revenue growth rates, operating margins, discount rates,
and future market conditions, among others. Goodwill and other long-lived assets are reviewed for impairment whenever events, such
as significant changes in the business climate, plant closures, changes in product offerings, or other circumstances indicate that
the carrying amount may not be recoverable.</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0.12in 0in; text-indent: 0.5in">To determine fair value, we utilize
two market-based approaches and an income approach. Under the market-based approaches, we utilize information regarding the Company
as well as publicly available industry information to determine earnings multiples and sales multiples. Under the income approach,
we determine fair value based on estimated future cash flows of each reporting unit, discounted by an estimated weighted-average
cost of capital, which reflects the overall level of inherent risk of a reporting unit and the rate of return an outside investor
would expect to earn.</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0in; text-indent: 0.5in">In the second quarter of 2018, the
Company applied the qualitative assessment approach in performing its annual evaluation of goodwill and concluded that no impairment
provision was required. There were no amounts at risk due to the large spread between the fair and carrying values, of each reporting
unit.</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in"><font style="font-weight: normal; font-style: normal"> </font></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">We are continuing to amortize certain
patents, trade names, customer relationships, customer contracts and technology assets that have finite lives. The gross carrying
value, accumulated amortization and net values of intangible assets and goodwill as of March 31, 2019 and December 31, 2018, were
as follows:</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0in; text-indent: 0.5in"> </p>
<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="width: 35%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-indent: 0in; text-align: left; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>As of March 31, 2019   <br />
(in thousands)</b></font></td>
<td style="width: 20%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Weighted
average<br />
amortization life in<br />
years</b></font></td>
<td style="width: 12%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Gross<br />
carrying<br />
amount</b></font></td>
<td style="width: 18%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Accumulated<br />
amortization</b></font></td>
<td style="width: 15%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Net carrying<br />
amount</b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Amortized intangible assets:</font></td>
<td style="text-indent: 0in"> </td>
<td style="text-indent: 0in"> </td>
<td style="text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">AEC trade names</font></td>
<td style="text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">15</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$140 </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">($131)</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$9 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">AEC technology</font></td>
<td style="text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">15</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">370 </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">(321)</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">49 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Customer relationships</font></td>
<td style="text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">15</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  48,421 </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">(9,690)</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">38,731 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Customer contracts</font></td>
<td style="text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">6</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  17,471 </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">(8,743)</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">8,728 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Other intangibles</font></td>
<td style="text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">5</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   322 </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">(193)</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">129 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Net amortized intangible assets</font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-indent: 0in"> </td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$66,724 </font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">($19,078)</font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$47,646 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   </font></td>
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   </font></td>
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Unamortized intangible assets:</font></td>
<td style="text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">MC Goodwill</font></td>
<td style="text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$67,708 </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"> $- </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$67,708 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">AEC Goodwill</font></td>
<td style="border-bottom: Black 1pt solid; text-indent: 0in"> </td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  95,730 </font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   - </font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  95,730 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Total unamortized intangible assets:</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"> </td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$163,438 </font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"> $- </font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$163,438 </font></td></tr>
</table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0in; text-indent: 0in"> </p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0in; text-indent: 0in"> </p>
<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="width: 35%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-indent: 0in; text-align: left; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>As of December 31, 2018   <br />
(in thousands)</b></font></td>
<td style="width: 19%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Weighted average<br />
amortization life<br />
in years</b></font></td>
<td style="width: 12%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Gross<br />
carrying<br />
amount</b></font></td>
<td style="width: 18%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Accumulated<br />
amortization</b></font></td>
<td style="width: 16%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Net carrying<br />
amount</b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Amortized intangible assets:</font></td>
<td style="text-indent: 0in"> </td>
<td style="text-indent: 0in"> </td>
<td style="text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">AEC trade names</font></td>
<td style="text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">15</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$140 </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">($129)</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$11 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">AEC technology</font></td>
<td style="text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">15</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">370 </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">(314)</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">    56 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Customer relationships</font></td>
<td style="text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">15</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  48,421 </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">(8,883)</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   39,538 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Customer contracts</font></td>
<td style="text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">6</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  17,471 </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">(8,015)</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  9,456 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Other intangibles</font></td>
<td style="text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">5</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  322 </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">(177)</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   145 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Net amortized intangible assets</font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-indent: 0in"> </td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$66,724 </font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">($17,518)</font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$49,206 </font></td></tr>
<tr style="vertical-align: top">
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   </font></td>
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   </font></td>
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   </font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Unamortized intangible assets:</font></td>
<td style="text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">MC Goodwill</font></td>
<td style="text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$68,652 </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"> $- </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$68,652 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">AEC Goodwill</font></td>
<td style="border-bottom: Black 1pt solid; text-indent: 0in"> </td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  95,730 </font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  - </font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   95,730 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Total unamortized intangible assets:</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"> </td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$164,382 </font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"> $- </font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$164,382 </font></td></tr>
</table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in"><font style="font-weight: normal; font-style: normal"> </font></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0in; text-indent: 0.5in">The changes in intangible assets, net
and goodwill from December 31, 2018 to March 31, 2019, were as follows:</p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt; text-indent: 0in"> </p>
<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="width: 37%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-indent: 0in; text-align: left; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>(in thousands)</b></font></td>
<td style="width: 16%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>December 31,<br />
2018</b></font></td>
<td style="width: 17%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Amortization</b></font></td>
<td style="width: 15%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Currency<br />
Translation</b></font></td>
<td style="width: 15%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; vertical-align: bottom"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>March 31,2019</b></font></td></tr>
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<td style="text-align: right; text-indent: 0in"> </td>
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<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Amortized intangible assets:</font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
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<td style="text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">AEC trade names</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$11 </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">($2)</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"> $- </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$9 </b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">AEC technology</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">56 </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">(7)</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>49 </b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Customer relationships</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  39,538 </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">(807)</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>38,731 </b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Customer contracts</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  9,456 </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">(728)</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>8,728 </b></font></td></tr>
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<td style="border-bottom: Black 1pt solid; text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Other intangibles</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   145 </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">(16)</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  - </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>129 </b></font></td></tr>
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<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Net amortized intangible assets</font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$49,206 </font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">($1,560)</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"> $- </font></td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$47,646 </b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   </font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>   </b></font></td></tr>
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<td style="text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Unamortized intangible assets:</font></td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
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<td style="text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">MC Goodwill</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$68,652 </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"> $- </font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">($944)</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$67,708 </b></font></td></tr>
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<td style="border-bottom: Black 1pt solid; text-indent: 0in; padding-left: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">AEC Goodwill</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  95,730 </font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   - </font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  - </font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>95,730 </b></font></td></tr>
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<td style="border-bottom: Black 1pt solid; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Total unamortized intangible assets:</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$164,382 </font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"> $- </font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">($944)</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>$163,438 </b></font></td></tr>
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<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td>
<td style="text-align: right; text-indent: 0in"> </td></tr>
</table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0in; text-indent: 0.5in">Estimated amortization expense of
intangibles for the years ending December 31, 2019 through 2023, is as follows:</p>
<table cellspacing="0" cellpadding="0" style="width: 60%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse; margin-left: 0.5in">
<tr style="vertical-align: top">
<td style="width: 44%; border-top: Black 1pt solid; text-align: center; text-indent: 0in"> </td>
<td style="width: 56%; border-top: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Annual amortization</b></font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Year</b></font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>(in thousands)</b></font></td></tr>
<tr style="vertical-align: top">
<td style="text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">2019</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">$6,234 </font></td></tr>
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<td style="text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">2020</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  6,234 </font></td></tr>
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<td style="text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">2021</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">   6,163 </font></td></tr>
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<td style="text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">2022</font></td>
<td style="text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  3,949 </font></td></tr>
<tr style="vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-align: center; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">2023</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right; text-indent: 0in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">  3,228</font></td></tr></table>
P10Y
P1Y
P11Y
Included in Interest expense, net, are payments related to the interest rate swap agreements and amortization of swap buyouts (see Notes 15 and 16).
These accumulated other comprehensive income components are included in the computation of net periodic cost (see Note 4).
Original cost basis $0.5 million.
Net of $26.7 million receivable floating leg and $25.9 million liability fixed leg.
Net of $32.0 million receivable floating leg and $27.5 million liability fixed leg.
As described in Note 3, the Company adopted ASC 842, Leases effective January 1, 2019, which resulted in an increase to Retained earnings of less than $0.1 million.
The Company adopted ASC 606 effective January 1, 2018, which resulted in a decrease to Retained earnings of $5.6 million and a $0.3 million decrease to Noncontrolling interest.
The Company adopted ASU 2016-16 effective January 1, 2018, which resulted in a $0.5 million increase to Retained earnings.