Held for Sale

12 Months Ended

Dec. 31, 2025

Discontinued Operations and Disposal Groups [Abstract]

During the fourth quarter of 2025, the Company announced that it is exploring strategic alternatives for its structures assembly business as it is not aligned with our long-term strategy. Exiting this business will enable the AEC business segment to focus on higher-margin, advanced technology component opportunities where we have a strong record of execution, and differentiated material science, including our 3D woven technology. The structure assembly program operates within the AEC segment out of the Amelia Earhart Drive facility in Salt Lake City, and is part of Albany Aerostructures Composites, LLC, a wholly-owned subsidiary. In addition to the structure assembly work for the program, the site also manufactures advanced composite parts for the CH-53K and other commercial and defense programs.

The Company has assessed the held-for-sale accounting criteria and classified the assets and liabilities associated with Amelia Earhart Drive facility as held-for-sale at December 31, 2025. Management has also performed a quantitative assessment of the fair value of the disposal group less costs of disposal based on income-based valuation techniques, utilizing projected discounted cash flows. The result was that fair value exceeds the net carrying value, and no impairment charge has been recorded.

The carrying amounts of the assets and liabilities of the facility classified as held-for-sale in our Consolidated Balance Sheet were as follows:


(in thousands)	December 31, 2025
Accounts receivable, net	$	27,159
Contract assets, net	68,550
Inventories	16,422
Prepaid expenses and other current assets	697
Property, plant and equipment, net	93,525
Intangibles, net	13,384
Goodwill	21,829
Other assets	52,217
Total assets held for sale	$	293,783

Accounts payable	$	16,408
Accrued liabilities	115,448
Other noncurrent liabilities	59,724
Deferred taxes and other liabilities	11,743
Total liabilities held for sale	$	203,323