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Reportable Segments
 9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Reportable Segments Reportable Segments
The Company is organized based on the nature of its products and is composed of two reportable segments, Machine Clothing ("MC") and Albany Engineered Composites ("AEC"), each overseen by a segment president. These segments are reflective of how the Company's Chief Executive Officer, who is its Chief Operating Decision Maker ("CODM"), reviews operating results for the purpose of allocating resources and assessing performance. Our CODM evaluates each segment's performance based on metrics such as net revenues, gross profit, and other key financial data, to assess performance and allocate resources that align with company-wide goals. The Company has not aggregated operating segments for purposes of identifying reportable segments. Effective December 31, 2024, the Company adopted provisions of ASU 2023-07, which expanded the content and frequency of segment disclosures required under ASC 280.

Machine Clothing:
The Machine Clothing segment supplies permeable and impermeable belts used in the manufacture of paper, paperboard, tissue and towel products, nonwovens, fiber cement and for several other industrial applications. We sell our MC products directly to customer end-users in countries across the globe. Our products, manufacturing processes, and distribution channels 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 manufacture 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.
Albany Engineered Composites:
The Albany Engineered Composites segment provides highly engineered, advanced composite structures to customers in the commercial and defense aerospace industries. The segment includes Albany Safran Composites, LLC (“ASC”), in which our customer, the SAFRAN Group (“SAFRAN”) owns a 10 percent noncontrolling interest. AEC, through ASC, is the exclusive supplier to the LEAP program of advanced composite fan blades and fan cases under a long-term supply contract, where revenue is determined by a cost-plus-fee agreement.
Other significant programs for AEC include the Sikorsky CH-53K, F-35, JASSM, and Boeing 787 programs. AEC also supplies vacuum waste tanks for the Boeing commercial programs, and specialty components for the Rolls Royce lift fan on the F-35, as well as the fan case for the GE9X engine. For the year ended December 31, 2024, approximately 36 percent of AEC's revenues were related to U.S. government contracts or programs.
The following tables show data by reportable segment that is regularly provided to the CODM, reconciled to consolidated totals included in the financial statements along with other segment data:
Reconciliation of Net Revenues to Operating Income(loss):
Three Months Ended September 30, 2025
(in thousands)MCAECCorporateTotal
Net revenues$174,950 $86,484 $— $261,434 
Cost of goods sold92,880 218,492 — 311,372 
Gross profit82,070 (132,008)— (49,938)
Selling, general and administrative expenses30,291 12,218 9,396 51,905 
Technical and research expenses6,716 3,673 1,078 11,467 
Restructuring expenses, net1,960 113 1,124 3,197 
Operating income/(loss)$43,103 $(148,012)$(11,598)$(116,507)
Three Months Ended September 30, 2024
(in thousands)MCAECCorporateTotal
Net revenues$183,033 $115,353 $— $298,386 
Cost of goods sold94,112 113,890 — 208,002 
Gross profit88,921 1,463 — 90,384 
Selling, general and administrative expenses32,048 11,923 8,126 52,097 
Technical and research expenses7,042 3,802 — 10,844 
Restructuring expenses, net2,207 34 31 2,272 
Operating income/(loss)$47,624 $(14,296)$(8,157)$25,171 

Nine Months Ended September 30, 2025
(in thousands)MCAECCorporateTotal
Net revenues$530,573 $331,034 $— $861,607 
Cost of goods sold284,842 432,710 — 717,552 
Gross profit245,731 (101,676)— 144,055 
Selling, general and administrative expenses98,841 34,121 31,257 164,219 
Technical and research expenses21,332 11,472 3,111 35,915 
Restructuring expenses, net6,322 1,801 1,772 9,895 
Operating income/(loss)$119,236 $(149,070)$(36,140)$(65,974)

Nine Months Ended September 30, 2024
(in thousands)MCAECCorporateTotal
Net revenues$561,828 $381,882 $— $943,710 
Cost of goods sold299,379 332,878 — 632,257 
Gross profit262,449 49,004 — 311,453 
Selling, general and administrative expenses95,384 36,249 30,814 162,447 
Technical and research expenses22,066 13,303 — 35,369 
Restructuring expenses, net3,294 3,144 146 6,584 
Operating income/(loss)$141,705 $(3,692)$(30,960)$107,053 

Schedule of Depreciation and Amortization Expenses:
Three months ended September 30,Nine months ended September 30,
(in thousands)
2025202420252024
Depreciation and amortization
Machine Clothing$8,604 $8,429 $24,283 $25,438 
Albany Engineered Composites13,479 13,596 40,229 40,700 
Corporate355 285 968 865 
Consolidated depreciation and amortization$22,438 $22,310 $65,480 $67,003 

Reconciliation of Operating Income/(loss) to Income before income taxes:
Three months ended September 30,Nine months ended September 30,
(in thousands)
2025202420252024
Operating income/(loss)
Machine Clothing$43,103 $47,624 $119,236 $141,705 
Albany Engineered Composites(148,012)(14,296)(149,070)(3,692)
Corporate(11,598)(8,157)(36,140)(30,960)
Consolidated Operating income/(loss)$(116,507)$25,171 $(65,974)$107,053 
Reconciling items:
Interest income/(loss)(1,114)(1,019)(4,157)(3,101)
Interest expense
7,011 3,430 18,859 11,781 
Other (income)/expense, net(347)3,257 4,170 5,932 
Income/(loss) before income taxes$(122,057)$19,503 $(84,846)$92,441 

Certain prior year amounts have been reclassified in order to conform to current year presentation. Global information system costs previously included in Corporate expenses are allocated to the segments. Management believes this presentation better reflects the performance of the segments and is how management will review segment performance on a going forward basis. For the three months ended September 30, 2025, Selling, general and administrative expenses include global information system costs of $4.9 million and $5.2 million for MC and AEC, respectively. For the three months ended September 30, 2024, Selling, general and administrative expenses include global information system costs of $3.9 million and $4.0 million for MC and AEC, respectively. For the nine months ended September 30, 2025, Selling, general and administrative expenses include global information system costs of $12.8 million and $13.0 million for MC and AEC, respectively. For the nine months ended September 30, 2024, Selling, general and administrative expenses include global information system costs of $11.6 million and $12.0 million for MC and AEC, respectively.

The following table presents assets by reportable segment:
(in thousands)
September 30, 2025December 31, 2024
Segment assets
Machine Clothing$625,460 $600,603 
Albany Engineered Composites726,588 736,306 
Reconciling items:
Cash108,310 115,283 
Income taxes prepaid and receivable, and Deferred income taxes90,273 47,944 
Prepaid expenses and other current assets, and Other assets150,963 148,560 
Consolidated total assets$1,701,594 $1,648,696 

The following table presents capital expenditures by reportable segment:
Nine months ended September 30,
(in thousands)
20252024
Capital expenditures and purchased software
Machine Clothing$20,387 $17,184 
Albany Engineered Composites28,422 44,902 
Total capital expenditures and purchased software$48,809 $62,086