v3.25.1
Noncontrolling Interests
 3 Months Ended
Mar. 31, 2025
Noncontrolling Interest [Abstract]  
Noncontrolling Interest Noncontrolling Interests
Effective October 31, 2013, Safran S.A. (Safran) acquired a 10 percent equity interest in Albany Safran Composites, LLC ("ASC").
On August 31, 2023, the Company acquired all the outstanding shares of Heimbach, a privately held manufacturer of paper machine clothing with headquarters in Düren, Germany. In July 2021, Heimbach acquired 85% of Arcari, SRL (“Arcari”). Arcari is a manufacturer of textile and plastic industrial technical products and conveyor belts. For the three months ended March 31, 2025, the net income/(loss) attributable to Arcari’s noncontrolling interest was less than $0.1 million and the noncontrolling interest balance as of March 31, 2025 was $0.3 million.
The table below presents a reconciliation of income attributable to the noncontrolling interest and noncontrolling equity in the Company’s subsidiaries:
ASC Noncontrolling InterestThree months ended March 31,
(in thousands, except percentages)20252024
Net income of Albany Safran Composites (ASC)$940 $1,014 
Less: Return attributable to the Company's preferred holding441 308 
Net income of ASC available for common ownership$499 $706 
Ownership percentage of noncontrolling shareholder10 %10 %
Net income attributable to the noncontrolling interest$50 $71 
Noncontrolling interest, beginning of year$4,983 $5,423 
Net income attributable to noncontrolling interest50 71 
Changes in other comprehensive income attributable to the noncontrolling interest(136)57 
ASC Noncontrolling interest, end of interim period
$4,897 $5,551 
Arcari Noncontrolling interest, end of interim period
$296 $525 
Total Noncontrolling interest, end of interim period$5,193 $6,076