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Reportable Segments and Geographic Data
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Reportable Segments and Geographic Data Reportable Segments and Geographic Data
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.
The accounting policies of the segments are the same as those described in Note 1, Accounting Policies, of the Notes to the Consolidated Financial Statements. Corporate expenses include wages and benefits for corporate headquarters personnel, costs related to information systems development and support, and professional fees related to legal, audit, and other activities. Corporate expenses are not allocated to the reportable segments, except certain global information system costs discussed below, because the decision-making for these functions lies outside of the segments.
Machine Clothing:
The MC segment supplies permeable and impermeable belts used in the manufacture of paper, paperboard, tissue and towel, pulp, nonwovens, fiber cement and 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 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.
Albany Engineered Composites:
The AEC 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, SAFRAN Group ("Safran"), owns a 10% 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.
Other significant programs in AEC include the Sikorsky CH-53K, F-35, JASSM, and Boeing 787 programs. AEC also supplies vacuum waste tanks for 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. In 2025, approximately 35% of AEC net 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:

Year ended December 31, 2025
(in thousands)MCAECCorporateTotal
Net revenues$708,066 $474,747 $— $1,182,813 
Cost of goods sold384,334 554,559 — 938,893 
Gross profit323,732 (79,812)— 243,920 
Selling, general and administrative expenses131,175 46,449 40,702 218,326 
Technical and research expenses28,090 15,615 4,310 48,015 
Restructuring expenses, net8,255 3,259 2,168 13,682 
Operating income/(loss)$156,212 $(145,135)$(47,180)$(36,103)
For the year ended December 31, 2025, Selling, general and administrative expenses include global information systems costs of $17.3 million, $17.6 million and $0.2 million for MC, AEC and Corporate, respectively.

Year ended December 31, 2024
(in thousands)MCAECCorporateTotal
Net revenues$749,907 $480,708 $— $1,230,615 
Cost of goods sold403,863 424,976 — 828,839 
Gross profit346,044 55,732 — 401,776 
Selling, general and administrative expenses123,120 47,421 40,341 210,882 
Technical and research expenses29,832 16,265 — 46,097 
Restructuring expenses, net9,460 3,649 329 13,438 
Operating income/(loss)$183,632 $(11,603)$(40,670)$131,359 
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 year ended December 31, 2024, Selling, general and administrative expenses include global information systems costs of $15.2 million, $15.7 million and $1.0 million for MC, AEC and Corporate, respectively. Global information systems costs were previously included in Corporate expenses.

Year ended December 31, 2023
(in thousands)MCAECCorporateTotal
Net revenues$670,768 $477,141 $— $1,147,909 
Cost of goods sold339,210 384,981 — 724,191 
Gross profit331,558 92,160 — 423,718 
Selling, general and administrative expenses118,196 48,833 47,886 214,915 
Technical and research expenses24,651 15,976 — 40,627 
Restructuring expenses, net282 — — 282 
Operating income/(loss)$188,429 $27,351 $(47,886)$167,894 
For the year ended December 31, 2023, Selling, general and administrative expenses include global information systems costs of $10.9 million, $14.2 million and $2.1 million for MC, AEC and Corporate, respectively. Global information systems costs were previously included in Corporate expenses.
The following table reconciles Operating income (loss) to Income before income taxes:
Years ended December 31,
(in thousands)
202520242023
Operating income/(loss)$(36,103)$131,359 $167,894 
Reconciling items:
Interest income
(5,159)(4,064)(6,566)
Interest expense
25,764 16,613 20,167 
Other (income)/expense, net
5,079 1,721 (6,163)
Income before income taxes
$(61,787)$117,089 $160,456 
Interest income, Interest expense, and Other income/expense are not allocated to the business segments.
The following table summarizes depreciation and amortization by segment:
Years ended December 31,
(in thousands)
202520242023
Depreciation and amortization
Machine Clothing
32,849 33,917 24,616 
Albany Engineered Composites
53,731 54,228 50,764 
Corporate
1,334 1,149 1,353 
Consolidated total
$87,914 $89,294 $76,733 
Results for the years ended December 31, 2025, December 31, 2024, and December 31, 2023 include Heimbach, which was acquired August 31, 2023. Depreciation expense for Heimbach on Property, plant, and equipment, net was $10.9 million, $12.4 million, and $4.0 million in 2025, 2024, and 2023 respectively; and amortization expense on Intangibles, net was $1.0 million, $1.0 million, and $0.3 million in 2025, 2024, and 2023 respectively.
In the measurement of assets utilized by each reportable segment, we include Inventories, Accounts receivable, net, Contract assets, net, Property, plant and equipment, net, Intangibles, net and Goodwill. Assets held-for-sale have been removed from segment assets and presented as a reconciling item.
The following table presents assets and capital expenditures by reportable segment:
As of December 31,
(in thousands)
202520242023
Segment assets
Machine Clothing
$618,476 $600,603 $669,907 
Albany Engineered Composites
491,802 736,306 800,931 
Reconciling items:
Cash
112,350 115,283 173,420 
Income taxes prepaid, receivable and deferred
112,436 47,944 33,984 
Prepaid and Other assets
89,862 148,560 156,772 
Assets held for sale293,783 — — 
Total assets
$1,718,709 $1,648,696 $1,835,014 
Capital expenditures and purchased software
Machine Clothing
$30,770 $21,270 $25,917 
Albany Engineered Composites
39,098 58,121 57,404 
Corporate1,637 1,816 1,108 
Total capital expenditures and purchased software
$71,505 $81,207 $84,429 
The following table shows data by geographic area. Net revenues are based on the location of the operation recording the final sale to the customer. Net revenues recorded by our entity in Switzerland are derived from products sold throughout Europe and Asia, and are invoiced in various currencies.
Years ended December 31,
(in thousands)
202520242023
Net revenues
United States$638,064 $650,532 $649,500 
Switzerland110,775 109,751 115,207 
Germany77,398 86,991 32,239 
France76,360 81,141 77,573 
China62,335 67,732 65,135 
Brazil68,642 66,943 69,527 
Mexico58,384 57,928 58,874 
Other countries90,855 109,597 79,854 
Total Net revenues
$1,182,813 $1,230,615 $1,147,909 
Property, plant and equipment, net
United States$202,729 $299,370 $303,578 
China54,991 52,063 57,070 
Germany48,858 46,033 52,934 
Mexico45,844 38,762 46,759 
France28,015 30,935 31,069 
United Kingdom16,100 16,651 18,306 
Canada16,194 14,313 15,318 
Spain12,808 12,154 14,804 
Other countries57,029 53,150 62,151 
Total Property, plant and equipment, net
$482,568 $563,431 $601,989