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Noncontrolling Interest (Tables)
 12 Months Ended
Dec. 31, 2019
Noncontrolling Interest [Abstract]  
Schedule of Income Attributable to Noncontrolling Interest and Noncontrolling Equity

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, and the impact of transitioning to ASC 606:

(in thousands, except percentages)

 

2019

 

2018

Net income of Albany Safran Composites (ASC)

 

$11,140

 

$2,578

Less: Return attributable to the Company's preferred holding

 

1,291

 

1,299

Net income of ASC available for common ownership

 

$9,849

 

$1,279

Ownership percentage of noncontrolling shareholder

 

10%

 

10%

Net income attributable to noncontrolling interest

 

$985

 

$128

 

 

 

 

 

Noncontrolling interest, beginning of year

 

$3,031

 

$3,247

Decrease attributable to 2018 adoption of ASC 606

 

—

 

(327)

Net income/(loss) attributable to noncontrolling interest

 

985

 

128

Changes in other comprehensive income attributable to noncontrolling interest

 

(10)

 

(17)

Noncontrolling interest, end of year

 

$4,006

 

$3,031