Restructuring

3 Months Ended

Mar. 31, 2026

Restructuring and Related Activities [Abstract]

Restructuring

Restructuring

At MC, restructuring actions were taken in 2026 and 2025 to consolidate production activities across multiple facilities. For the three months ended March 31, 2026, these actions related to workforce reductions, manufacturing expenses related to ceased production and transfers of fixed assets to other locations. For the three months ended March 31, 2025, restructuring charges incurred included $3.1 million related to workforce reductions, fixed asset impairments and related costs, as well as charges of $0.2 million in cost of goods sold for the write-off of inventory, offset by a $1.8 million pension curtailment gain.

At AEC, restructuring activities for the three months ended March 31, 2025 were related to reorganizational and workforce reduction costs, which resulted in restructuring expenses of $1.2 million. AEC did not incur any restructuring costs for the three months ended March 31, 2026.

The following table summarizes charges reported in the Consolidated Statements of Income under "Restructuring expenses, net":

	Three months ended March 31,
(in thousands)	2026		2025
Machine Clothing	$	2,676	$	1,347
Albany Engineered Composites	—		1,168
Corporate	489		—
Total	$	3,165	$	2,515

The following tables summarize charges by type of expense reported in the Consolidated Statements of Income under "Restructuring expenses, net" and "Cost of goods sold":

Three months ended March 31, 2026	Total restructuring costs incurred		Termination and other costs		Asset Transfer Costs
(in thousands)
Machine Clothing	$	2,676	$	1,998	$	678
Albany Engineered Composites	—		—		—
Corporate	489		489		—
Total	$	3,165	$	2,487	$	678

Three months ended March 31, 2025	Total restructuring costs incurred		Termination and other costs		Impairment of assets		Pension Curtailment (Gain)/Loss
(in thousands)
Machine Clothing	$	1,603	$	2,640	$	723	$	(1,760)
Albany Engineered Composites	1,168		1,168		—		—
Corporate	—		—		—		—
Total	$	2,771	$	3,808	$	723	$	(1,760)

The table below presents the year-to-date changes in restructuring liabilities for 2026 and 2025:

(in thousands)	December 31, 2025		Restructuring charges accrued		Payments and other		March 31, 2026
Total restructuring and other liabilities	$	2,766	$	3,165	$	(4,871)	$	1,060

(in thousands)	December 31, 2024		Restructuring charges accrued		Payments and other		March 31, 2025
Total restructuring and other liabilities	$	4,996	$	3,808	$	(4,136)	$	4,668