Albany International (AIN) 10-Q 26 Jul 23 2023 Q2 Quarterly report Financial data

Cover page

Cover page - shares shares in Millions	6 Months Ended
	Jun. 30, 2023	Jul. 15, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
Document Transition Report	false
Entity File Number	1-10026
Entity Registrant Name	ALBANY INTERNATIONAL CORP.
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	216 Airport Drive
Entity Address, City or Town	Rochester
Entity Address, State or Province	NH
Entity Tax Identification Number	14-0462060
Entity Address, Postal Zip Code	03867
City Area Code	603
Local Phone Number	330-5850
Title of 12(b) Security	Class A Common Stock, $0.001 par value per share
Trading Symbol	AIN
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		31.2
Entity Central Index Key	0000819793
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Amendment Flag	false

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Statement [Abstract]
Net revenues	$ 274,123	$ 261,369	$ 543,219	$ 505,538
Cost of goods sold	171,419	160,776	341,197	313,341
Gross profit	102,704	100,593	202,022	192,197
Selling, general, and administrative expenses	46,760	39,745	95,239	82,452
Technical and research expenses	10,318	10,161	20,595	20,050
Restructuring expenses, net	125	(28)	145	226
Operating income	45,501	50,715	86,043	89,469
Interest expense/(income), net	3,106	3,933	6,396	7,542
Other (income)/expense, net	(4,511)	(7,045)	(4,966)	(10,973)
Income before income taxes	46,906	53,827	84,613	92,900
Income tax expense	20,080	14,458	30,701	25,456
Net income	26,826	39,369	53,912	67,444
Net income attributable to the noncontrolling interest	154	168	351	506
Net income attributable to the Company	$ 26,672	$ 39,201	$ 53,561	$ 66,938
Earnings per share attributable to Company shareholders - Basic (in dollars per share)	$ 0.86	$ 1.25	$ 1.72	$ 2.12
Earnings per share attributable to Company shareholders - Diluted (in dollars per share)	$ 0.85	$ 1.25	$ 1.71	$ 2.11
Shares of the Company used in computing earnings per share:
Basic (in shares)	31,174	31,268	31,152	31,571
Diluted (in shares)	31,269	31,378	31,243	31,668
Dividends declared per Class A share (in dollars per share)	$ 0.25	$ 0.21	$ 0.50	$ 0.42

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income/(Loss) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 26,826	$ 39,369	$ 53,912	$ 67,444
Other comprehensive income/(loss), before tax:
Foreign currency translation	(2,818)	(39,319)	10,622	(40,870)
Amortization of pension liability adjustments:
Prior service credit	(1,030)	(1,122)	(2,061)	(2,245)
Net actuarial loss	347	967	693	1,938
Payments and amortization related to interest rate swaps included in earnings	(3,678)	1,168	(6,901)	2,864
Derivative valuation adjustment	4,199	3,316	3,537	15,037
Income taxes related to items of other comprehensive income/(loss):
Amortization of prior service credit	316	343	631	687
Amortization of net actuarial loss	(107)	(296)	(212)	(593)
Payments and amortization related to interest rate swaps included in earnings	931	(295)	1,746	(725)
Derivative valuation adjustment	(1,063)	(840)	(895)	(3,809)
Comprehensive income	23,923	3,291	61,072	39,728
Comprehensive income attributable to the noncontrolling interest	333	77	768	471
Comprehensive income attributable to the Company	$ 23,590	$ 3,214	$ 60,304	$ 39,257

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Jun. 30, 2023	Dec. 31, 2022
ASSETS
Cash and cash equivalents	$ 300,916,000	$ 291,776,000
Accounts receivable, net	242,189,000	200,018,000
Contract assets, net	145,324,000	148,695,000
Inventories	151,360,000	139,050,000
Income taxes prepaid and receivable	8,473,000	7,938,000
Prepaid expenses and other current assets	55,538,000	50,962,000
Total current assets	903,800,000	838,439,000
Property, plant and equipment, net	451,986,000	445,658,000
Intangibles, net	31,842,000	33,811,000
Goodwill	179,257,000	178,217,000
Deferred income taxes	14,491,000	15,196,000
Noncurrent receivables, net	26,568,000	27,913,000
Other assets	99,204,000	103,021,000
Total assets	1,707,148,000	1,642,255,000
LIABILITIES AND SHAREHOLDERS' EQUITY
Accounts payable	65,812,000	69,707,000
Accrued liabilities	104,398,000	126,385,000
Current maturities of long-term debt	0	0
Income taxes payable	10,905,000	15,224,000
Total current liabilities	181,115,000	211,316,000
Long-term debt	487,000,000	439,000,000
Other noncurrent liabilities	107,781,000	108,758,000
Deferred taxes and other liabilities	15,533,000	15,638,000
Total liabilities	791,429,000	774,712,000
COMMITMENTS AND CONTINGENCIES (Note 15)
SHAREHOLDERS' EQUITY
Preferred stock	0	0
Additional paid in capital	443,556,000	441,540,000
Retained earnings	969,292,000	931,318,000
Accumulated items of other comprehensive income:
Translation adjustments	(135,538,000)	(146,851,000)
Pension and postretirement liability adjustments	(17,423,000)	(15,783,000)
Derivative valuation adjustment	15,194,000	17,707,000
Treasury stock (Class A), at cost; 9,662,562 shares in 2023 and 9,674,542 in 2022	(364,665,000)	(364,923,000)
Total Company shareholders' equity	910,457,000	863,049,000
Noncontrolling interest	5,262,000	4,494,000
Total equity	915,719,000	867,543,000
Total liabilities and shareholders' equity	1,707,148,000	1,642,255,000
Common Class A
SHAREHOLDERS' EQUITY
Common stock	41,000	41,000
Common Class B
SHAREHOLDERS' EQUITY
Common stock	$ 0	$ 0

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2023	Dec. 31, 2022
Preferred stock, par or stated value per share (in dollars per share)	$ 5	$ 5
Preferred stock, shares authorized (in shares)	2,000,000	2,000,000
Preferred stock, shares issued (in shares)	0	0
Common Class A
Common stock, par or stated value per share (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares, issued (in shares)	40,842,023	40,785,434
Treasury stock, shares (in shares)	9,662,562	9,674,542
Common Class B
Common stock, par or stated value per share (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	25,000,000	25,000,000
Common stock, shares, issued (in shares)	0	0
Common stock, shares, outstanding (in shares)	0	0

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
OPERATING ACTIVITIES
Net income	$ 53,912	$ 67,444
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	32,299	31,276
Amortization	3,018	3,598
Change in deferred taxes and other liabilities	1,787	2,596
Impairment of property, plant, equipment, and inventory	532	2,662
Non-cash interest expense	565	561
Compensation and benefits paid or payable in Class A Common Stock	2,274	2,447
Provision for credit losses from uncollected receivables and contract assets	493	1,326
Foreign currency remeasurement (gain) on intercompany loans	(3,198)	(1,260)
Fair value adjustment on foreign currency options	(123)	(381)
Changes in operating assets and liabilities that provided/(used) cash:
Accounts receivable	(40,131)	(14,407)
Contract assets	4,606	(23,868)
Inventories	(9,174)	(21,135)
Prepaid expenses and other current assets	(2,700)	(4,474)
Income taxes prepaid and receivable	(381)	(60)
Accounts payable	(5,255)	7,476
Accrued liabilities	(21,570)	(11,745)
Income taxes payable	(4,943)	(7,739)
Noncurrent receivables	1,705	1,864
Other noncurrent liabilities	(1,922)	(3,252)
Other, net	2,881	4,784
Net cash provided by operating activities	14,675	37,713
INVESTING ACTIVITIES
Purchases of property, plant and equipment	(34,899)	(35,659)
Purchased software	(72)	(366)
Net cash used in investing activities	(34,971)	(36,025)
FINANCING ACTIVITIES
Proceeds from borrowings	61,000	135,000
Principal payments on debt	(13,000)	0
Principal payments on finance lease liabilities	0	(654)
Purchase of Treasury shares	0	(84,780)
Taxes paid in lieu of share issuance	(3,136)	(770)
Proceeds from options exercised	0	7
Dividends paid	(15,570)	(13,399)
Net cash provided by financing activities	29,294	35,404
Effect of exchange rate changes on cash and cash equivalents	142	(18,258)
Increase in cash and cash equivalents	9,140	18,834
Cash and cash equivalents at beginning of period	291,776	302,036
Cash and cash equivalents at end of period	$ 300,916	$ 320,870

Significant Accounting Policies

Significant Accounting Policies	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies Basis of Presentation In the opinion of management, the accompanying unaudited consolidated financial statements contain all adjustments necessary for a fair presentation of results for such periods. Albany International Corp. ("Albany", the "Registrant", the "Company", "we", "us", or "our") consolidates the financial results of its subsidiaries for all periods presented. The results for any interim period are not necessarily indicative of results for the full year. The preparation of financial statements in accordance with U.S. generally accepted accounting principles (“GAAP”) requires management to make estimates and assumptions that affect the amounts reported in the Company's Consolidated Financial Statements and accompanying Notes. Actual results could differ materially from those estimates. The information included in this Quarterly Report on Form 10-Q should be read in conjunction with Albany International Corp.’s Annual Report on Form 10-K for the year ended December 31, 2022. Acquisition On June 14, 2023, the Company entered into an agreement to acquire Heimbach GmbH ("Heimbach"), a privately-held manufacturer of paper machine clothing and technical textiles located in Düren, Germany. The Company will acquire Heimbach for a purchase price of approximately €153 million, including net debt of approximately €21 million. Albany expects to fund the acquisition using cash on hand. The transaction is subject to regulatory approvals and other customary closing conditions.

Reportable Segments and Revenue

Reportable Segments and Revenue Recognition	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Reportable Segments and Revenue Recognition	Reportable Segments and Revenue Recognition In accordance with applicable disclosure guidance for enterprise segments and related information, the internal organization that is used by management for making operating decisions and assessing performance is used as the basis for our reportable segments. Machine Clothing: The Machine Clothing (“MC”) segment supplies permeable and impermeable belts used in the manufacture of paper, paperboard, tissue and towel, 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 Albany Engineered Composites (“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, the SAFRAN Group (“SAFRAN”) owns a 10 percent noncontrolling interest. AEC, through ASC, is the exclusive supplier of 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. The LEAP engine is used on the Airbus A320neo, Boeing 737 MAX, and COMAC 919 aircraft. AEC's largest aerospace customer is the SAFRAN Group and sales to SAFRAN (consisting primarily of fan blades and cases for CFM International's LEAP engine) accounted for approximately 16 percent of the Company's consolidated Net revenues in 2022. AEC net sales to SAFRAN were $93.5 million and $83.1 million in the first six months of 2023 and 2022, respectively. The total of Accounts receivable, Contract assets and Noncurrent receivables due from SAFRAN amounted to $88.9 million and $80.8 million as of June 30, 2023 and December 31, 2022, respectively. Other significant programs by AEC include the Sikorsky CH-53K, F-35, JASSM, and Boeing 787 programs. AEC also supplies vacuum waste tanks for the Boeing 7-Series 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, 2022, approximately 46 percent of AEC revenues were related to U.S. government contracts or programs. The following tables show data by reportable segment, reconciled to consolidated totals included in the financial statements: Three months ended June 30, Six months ended June 30, (in thousands) 2023 2022 2023 2022 Net revenues Machine Clothing $ 159,217 $ 151,670 $ 312,439 $ 305,732 Albany Engineered Composites 114,906 109,699 230,780 199,806 Consolidated revenues $ 274,123 $ 261,369 $ 543,219 $ 505,538 Operating income/(loss) Machine Clothing $ 53,726 $ 54,861 $ 102,690 $ 104,505 Albany Engineered Composites 8,668 9,535 18,086 10,730 Corporate expenses (16,893) (13,681) (34,733) (25,766) Consolidated Operating income $ 45,501 $ 50,715 $ 86,043 $ 89,469 Reconciling items: Interest income (1,838) (846) (2,944) (1,498) Interest expense 4,944 4,779 9,340 9,040 Other (income)/expense, net (4,511) (7,045) (4,966) (10,973) Income before income taxes $ 46,906 $ 53,827 $ 84,613 $ 92,900 Revenue Recognition: Products and services provided under long-term contracts represent a significant portion of revenues in the Albany Engineered Composites segment and we account for these contracts over time, primarily using the percentage of completion (actual cost to estimated cost) method. That method requires significant judgment and estimation, which could be considerably different if the underlying circumstances were to change. When adjustments in estimated contract revenues or costs are required, any changes from prior estimates are included in earnings in the period the change occurs. Changes in the estimated profitability of long-term contracts could be caused by increases or decreases in the contract value, revisions to customer delivery requirements, updated labor or overhead rates, factors affecting the supply chain, changes in the evaluation of contract risks and opportunities, or other factors . Changes in the estimated profitability of long-term contracts decreased operating income by $1.9 million for the second quarter of 2023 and decreased operating income $4.0 million for the first half of 2023. Adjustments in the estimated profitability of long-term contracts increased operating income by $1.2 million and decreased operating income $0.6 for the second quarter and first half of 2022, respectively. We disaggregate revenue earned from contracts with customers for each of our business segments and product groups based on the timing of revenue recognition, and groupings used for internal review purposes. The following table disaggregates revenue for each product group by timing of revenue recognition for the three months ended June 30, 2023: Three months ended June 30, 2023 (in thousands) Point in Time Revenue Recognition Over Time Revenue Recognition Total Machine Clothing $ 158,273 $ 944 $ 159,217 Albany Engineered Composites: ASC — 47,417 47,417 Other AEC 3,511 63,978 67,489 Total Albany Engineered Composites 3,511 111,395 114,906 Total revenues $ 161,784 $ 112,339 $ 274,123 The following table disaggregates revenue for each product group by timing of revenue recognition for the three months ended June 30, 2022: Three months ended June 30, 2022 (in thousands) Point in Time Revenue Recognition Over Time Revenue Recognition Total Machine Clothing $ 150,770 $ 900 $ 151,670 Albany Engineered Composites: ASC — 41,661 41,661 Other AEC 5,018 63,020 68,038 Total Albany Engineered Composites 5,018 104,681 109,699 Total revenues $ 155,788 $ 105,581 $ 261,369 The following table disaggregates revenue for each product group by timing of revenue recognition for the six months ended June 30, 2023: Six months ended June 30, 2023 (in thousands) Point in Time Revenue Over Time Revenue Total Machine Clothing $ 310,551 $ 1,888 $ 312,439 Albany Engineered Composites: ASC — 91,949 91,949 Other AEC 9,304 129,527 138,831 Total Albany Engineered Composites 9,304 221,476 230,780 Total revenues $ 319,855 $ 223,364 $ 543,219 The following table disaggregates revenue for each product group by timing of revenue recognition for the six months ended June 30, 2022: Six months ended June 30, 2022 (in thousands) Point in Time Revenue Over Time Revenue Total Machine Clothing $ 303,933 $ 1,799 $ 305,732 Albany Engineered Composites: ASC — 81,373 81,373 Other AEC 8,931 109,502 118,433 Total Albany Engineered Composites 8,931 190,875 199,806 Total revenues $ 312,864 $ 192,674 $ 505,538 The following table disaggregates MC segment revenue by significant product groupings (paper machine clothing ("PMC") and engineered fabrics), and, for PMC, the geographical region to which the paper machine clothing was sold: Three months ended June 30, Six months ended June 30, (in thousands) 2023 2022 2023 2022 Americas PMC $ 94,154 $ 79,062 $ 177,532 $ 155,678 Eurasia PMC 48,541 52,368 100,278 107,854 Engineered Fabrics 16,522 20,240 34,629 42,200 Total Machine Clothing net revenues $ 159,217 $ 151,670 $ 312,439 $ 305,732 We do not disclose the value of unsatisfied performance obligations for contracts with an original expected duration of one year or less. Contracts in the MC segment are generally for periods of less than a year and certain contracts in the AEC segment are relatively short duration firm-fixed-price orders. Remaining performance obligations on contracts that had an original duration of greater than one year totaled $792 million and $579 million as of June 30, 2023 and 2022, respectively, and related primarily to firm contracts in the AEC segment. Of the remaining performance obligations as of June 30, 2023, we expect to recognize as revenue approximately $78 million during 2023, $131 million during 2024, $148 million during 2025, and the remainder thereafter.

Pensions and Other Postretireme

Pensions and Other Postretirement Benefit Plans	6 Months Ended
	Jun. 30, 2023
Retirement Benefits [Abstract]
Pensions and Other Postretirement Benefit Plans	Pensions and Other Postretirement Benefit Plans The Company has defined benefit pension plans covering certain U.S. and non-U.S. employees. The Company also provides certain postretirement benefits to retired employees in the U.S. and Canada. The Company accrues the cost of providing these benefits during the active service period of the employees. The composition of the net periodic benefit cost/ (income) for the six months ended June 30, 2023 and 2022, was as follows: Pension plans Other postretirement benefits (in thousands) 2023 2022 2023 2022 Components of net periodic benefit cost/(income): Service cost $ 565 $ 708 $ 30 $ 57 Interest cost 2,141 2,828 937 611 Expected return on assets (1,955) (3,405) — — Amortization of prior service cost/(income) (16) (1) (2,045) (2,244) Amortization of net actuarial loss 279 997 414 941 Net periodic benefit cost/(income) $ 1,014 $ 1,127 $ (664) $ (635) The amount of net benefit cost/(income) is determined at the beginning of each year and generally only varies from quarter to quarter when a significant event occurs, such as a curtailment or a settlement. There were no such events in the first six months of 2023 or 2022. Service cost for defined benefit pension and postretirement plans are reported in the same line item as other compensation costs arising from services rendered by the pertinent employees during the period. Other components of net periodic benefit cost are included in the line item Other (income)/expense, net in the Consolidated Statements of Income.

Other (Income)_Expense, net

Other (Income)/Expense, net	6 Months Ended
	Jun. 30, 2023
Other Income and Expenses [Abstract]
Other (Income)/Expense, net	Other (Income)/Expense, net The components of Other (income)/expense, net are: Three months ended June 30, Six months ended June 30, (in thousands) 2023 2022 2023 2022 Currency transaction (gains)/losses $ (4,193) $ (7,284) $ (4,133) $ (11,024) Bank fees and amortization of debt issuance costs 33 80 91 176 Components of net periodic pension and postretirement cost other than service cost (120) (137) (245) (273) Other (231) 296 (679) 148 Total other (income)/expense, net $ (4,511) $ (7,045) $ (4,966) $ (10,973) Other (income)/expense, net, included foreign currency related transactions which resulted in gains of $4.2 million and $4.1 million in the three and six months ended June 30, 2023, respectively, as compared to gains of $7.3 million and $11.0 million in the same period last year. The stronger Euro and Mexican Peso during the three and six months ended June 30, 2023 led to a lesser gain on foreign currency related transactions.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The following table presents components of income tax expense for the three and six months ended June 30, 2023 and 2022: Three months ended June 30, Six months ended June 30, (in thousands, except percentages) 2023 2022 2023 2022 Income tax based on income from operations (1) $ 13,909 $ 15,165 $ 24,967 $ 26,107 Provision for change in estimated tax rate 124 66 124 66 Income tax before discrete items 14,033 15,231 25,091 26,173 Discrete tax expense: Exercise of U.S. stock options — — — (9) Impact of amended tax returns — (17) — (98) True-up of prior year estimated taxes 1,941 (612) 1,396 (508) Enacted tax legislation and rate change — — 313 — Provision for/resolution of tax audits and contingencies, net 750 (146) 778 (140) Impact of long range tax planning — — (443) — Withholding tax related to internal restructuring 3,026 — 3,026 — Other 330 2 540 38 Total income tax expense/(benefit) $ 20,080 $ 14,458 $ 30,701 $ 25,456 (1) Income tax is calculated at estimated annualized effective tax rate of 29.7% and 28.2% for the three and six months ended June 30, 2023 and 2022, respectively. Income tax expense for the quarter was computed in accordance with ASC 740-270, Income Taxes – Interim Reporting. Under this method, loss jurisdictions, which cannot recognize a tax benefit with regard to their generated losses, are excluded from the annual effective tax rate calculation and their taxes will be recorded discretely in each quarter.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The amounts used in computing earnings per share and the weighted average number of shares of potentially dilutive securities are as follows: Three months ended June 30, Six months ended June 30, (in thousands, except market price and earnings per share) 2023 2022 2023 2022 Net income attributable to the Company $ 26,672 $ 39,201 $ 53,561 $ 66,938 Weighted average number of shares: Weighted average number of shares used in calculating basic net income per share 31,174 31,268 31,152 31,571 Effect of dilutive stock-based compensation plans: RSU and MPP shares 95 110 91 97 Weighted average number of shares used in calculating diluted net income per share 31,269 31,378 31,243 31,668 Net income attributable to the Company per share: Basic $ 0.86 $ 1.25 $ 1.72 $ 2.12 Diluted $ 0.85 $ 1.25 $ 1.71 $ 2.11

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (AOCI)	6 Months Ended
	Jun. 30, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Income (AOCI)	Accumulated Other Comprehensive Income ("AOCI") The table below presents changes in the components of AOCI for the period from December 31, 2022 to June 30, 2023: (in thousands) Translation adjustments Pension and postretirement liability adjustments Derivative valuation adjustment Total Other Comprehensive Income December 31, 2022 $ (146,851) $ (15,783) $ 17,707 $ (144,927) Other comprehensive income/(loss) before reclassifications, net of tax 11,313 (691) 2,642 13,264 Interest (expense)/income related to swaps reclassified to the Consolidated Statements of Income, net of tax — — (5,155) (5,155) Pension and postretirement liability adjustments reclassified to Consolidated Statements of Income, net of tax — (949) — (949) Net current period other comprehensive income 11,313 (1,640) (2,513) 7,160 June 30, 2023 $ (135,538) $ (17,423) $ 15,194 $ (137,767) The table below presents changes in the components of AOCI for the period from December 31, 2021 to June 30, 2022: (in thousands) Translation adjustments Pension and postretirement liability adjustments Derivative valuation adjustment Total Other Comprehensive Income December 31, 2021 $ (105,880) $ (38,490) $ (1,614) $ (145,984) Other comprehensive income/(loss) before reclassifications, net of tax (41,391) 521 11,228 (29,642) Interest (expense)/income related to swaps reclassified to the Consolidated Statements of Income, net of tax — — 2,139 2,139 Pension and postretirement liability adjustments reclassified to Consolidated Statements of Income, net of tax — (213) — (213) Net current period other comprehensive income (41,391) 308 13,367 (27,716) June 30, 2022 $ (147,271) $ (38,182) $ 11,753 $ (173,700) The components of AOCI that are reclassified to the Consolidated Statements of Income relate to our pension and postretirement plans and interest rate swaps. The table below presents the expense/(income) amounts reclassified from AOCI, and the line items of the Consolidated Statements of Income that were affected for the three and six months ended June 30, 2023 and 2022: Three months ended June 30, Six months ended June 30, (in thousands) 2023 2022 2023 2022 Pretax Derivative valuation reclassified from Accumulated Other Comprehensive Income: Other (income)/expense, net related to interest rate swaps included in Income before taxes $ (3,678) $ 1,168 $ (6,901) $ 2,864 Income tax effect 931 (295) 1,746 (725) Effect on net income due to items reclassified from Accumulated Other Comprehensive Income $ (2,747) $ 873 $ (5,155) $ 2,139 Pretax pension and postretirement liabilities reclassified from Accumulated Other Comprehensive Income: Amortization of prior service credit $ (1,030) $ (1,122) $ (2,061) $ (2,245) Amortization of net actuarial loss 347 967 693 1,938 Total pretax amount reclassified (a) (683) (155) (1,368) (307) Income tax effect 209 47 419 94 Effect on net income due to items reclassified from Accumulated Other Comprehensive Income $ (474) $ (108) $ (949) $ (213) (a) These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note 3. Pensions and Other Postretirement Benefit Plans ).

Noncontrolling Interest

Noncontrolling Interest	6 Months Ended
	Jun. 30, 2023
Noncontrolling Interest [Abstract]
Noncontrolling Interest	Noncontrolling Interest Effective October 31, 2013, Safran S.A. (Safran) acquired a 10 percent equity interest in a new Albany subsidiary, Albany Safran Composites, LLC ("ASC"). The table below presents a reconciliation of income attributable to the noncontrolling interest and noncontrolling equity in the Company’s subsidiary, Albany Safran Composites, LLC: Six months ended June 30, (in thousands, except percentages) 2023 2022 Net income of Albany Safran Composites (ASC) $ 4,146 $ 5,690 Less: Return attributable to the Company's preferred holding 637 632 Net income of ASC available for common ownership $ 3,509 $ 5,058 Ownership percentage of noncontrolling shareholder 10 % 10 % Net income attributable to the noncontrolling interest $ 351 $ 506 Noncontrolling interest, beginning of year $ 4,494 $ 3,638 Net income attributable to noncontrolling interest 351 506 Changes in other comprehensive income attributable to the noncontrolling interest 417 (35) Noncontrolling interest, end of interim period $ 5,262 $ 4,109

Accounts Receivable

Accounts Receivable	6 Months Ended
	Jun. 30, 2023
Receivables [Abstract]
Accounts Receivable	Accounts Receivable Accounts receivable, net includes Trade and other accounts receivable and Bank promissory notes, net of Allowance for expected credit losses. In connection with certain revenues in Asia, the Company accepts a bank promissory note as customer payment. The notes may be presented for payment at maturity, which is less than one year. As of June 30, 2023 and December 31, 2022, Accounts receivable consisted of the following: (in thousands) June 30, December 31, Trade and other accounts receivable $ 226,996 $ 179,676 Bank promissory notes 18,859 23,439 Allowance for expected credit losses (3,666) (3,097) Accounts receivable, net $ 242,189 $ 200,018 The Company has Noncurrent receivables in the AEC segment that represent revenue earned, which has extended payment terms. The Noncurrent receivables will be invoiced to the customer over a 10-year period, which began in 2020. As of June 30, 2023 and December 31, 2022, Noncurrent receivables consisted of the following: (in thousands) June 30, December 31, Noncurrent receivables $ 26,702 $ 28,053 Allowance for expected credit losses (134) (140) Noncurrent receivables, net $ 26,568 $ 27,913

Contract Assets and Liabilities

Contract Assets and Liabilities	6 Months Ended
	Jun. 30, 2023
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Abstract]
Contract Assets and Liabilities	Contract Assets and Liabilities Contract assets include unbilled amounts typically resulting from revenues under contracts when the cost-to-cost method of revenue recognition is utilized, and revenue recognized exceeds the amount billed to the customer. Contract assets are transferred to Accounts receivable, net when the entitlement to pay becomes unconditional and the customer is invoiced. Contract liabilities include advance payments and billings in excess of revenue recognized. Contract liabilities are included in Accrued liabilities in the Consolidated Balance Sheets. Contract assets and Contract liabilities are reported on the Consolidated Balance Sheets in a net position on a contract-by-contract basis at the end of each reporting period. As of June 30, 2023 and December 31, 2022, Contract assets and Contract liabilities consisted of the following: (in thousands) June 30, December 31, Contract assets $ 146,054 $ 149,443 Allowance for expected credit losses (730) (748) Contract assets, net $ 145,324 $ 148,695 Contract liabilities $ 6,796 $ 15,176 Contract assets, net decreased $3.4 million during the six months ended June 30, 2023. The decrease was primarily due to invoicing to customers for satisfied performance obligations for contracts that were in a contract asset position. There were no impairment losses related to our Contract assets during the six months ended June 30, 2023 and June 30, 2022. Contract liabilities decreased $8.4 million during the six months ended June 30, 2023, primarily due to revenue recognized from satisfied performance obligations exceeding amounts invoiced to customers that were in a contract liability position. Revenue recognized for the six months ended June 30, 2023 and 2022 that was included in the Contract liability balance at the beginning of the year was $11.7 million and $5.5 million, respectively.

Inventories

Inventories	6 Months Ended
	Jun. 30, 2023
Inventory Disclosure [Abstract]
Inventories	Inventories Costs included in inventories are raw materials, labor, supplies and allocable depreciation and overhead. Raw material inventories are valued on an average cost basis. Other inventory cost elements are valued at cost, using the first-in, first-out method. The Company writes down the inventories for estimated obsolescence, and to lower of cost or net realizable value based upon assumptions about future demand and market conditions. If actual demand or market conditions are less favorable than those projected by the Company, additional inventory write-downs may be required. Once established, the original cost of the inventory less the related write-down represents the new cost basis of such inventories. As of June 30, 2023 and December 31, 2022, Inventories consisted of the following: (in thousands) June 30, 2023 December 31, 2022 Raw materials $ 78,251 $ 74,631 Work in process 57,691 50,516 Finished goods 15,418 13,903 Total inventories $ 151,360 $ 139,050

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	6 Months Ended
	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets Goodwill represents the excess of the purchase price over the fair value of the net tangible and identifiable intangible assets acquired in each business combination. Goodwill and intangible assets with indefinite useful lives are not amortized, but are tested for impairment at least annually. In the second quarter of 2023, management applied the qualitative assessment approach in performing its annual evaluation of goodwill for the Company's Machine Clothing reporting unit and two AEC reporting units and concluded that each reporting unit’s fair value continued to exceed its carrying value. In addition, there were no amounts at risk due to the estimated excess between the fair and carrying values. Accordingly, no impairment charges were recorded. When a quantitative assessment is performed, determining the fair value of a reporting unit requires the use of significant estimates and assumptions, including revenue growth rates, operating margins, discount rates, and future market conditions, among others. Goodwill and other long-lived assets are reviewed for impairment whenever events, such as significant changes in the business climate, plant closures, changes in product offerings, or other circumstances indicate that the carrying amount may not be recoverable. To determine fair value, we utilize two market-based approaches and an income approach. Under the market-based approaches, we utilize information regarding the Company, as well as publicly available industry information, to determine earnings multiples and revenues multiples. Under the income approach, we determine fair value based on estimated future cash flows of each reporting unit, discounted by an estimated weighted-average cost of capital, which reflects the overall level of inherent risk of a reporting unit and the rate of return an outside investor would expect to earn.

Financial Instruments

Financial Instruments	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Financial Instruments	Financial Instruments Long-term debt, principally to banks and noteholders, consists of: (in thousands, except interest rates) June 30, 2023 December 31, 2022 Revolving credit agreement with borrowings outstanding at an end of period interest rate of 3.68% in 2023 and 3.16% in 2022 (including the effect of interest rate hedging transactions, as described below), due in 2024 $ 487,000 $ 439,000 We had no current maturities of Long-term debt as of June 30, 2023 or December 31, 2022. On October 27, 2020, we entered into a $700 million Amended and Restated unsecured Four-Year Revolving Credit Agreement (the “Credit Agreement”), which amended and restated the prior $685 million Five-Year Revolving Credit Facility Agreement, entered into on November 7, 2017. On June 23, 2023, we entered into the first Amendment to the Credit Agreement (the Credit Agreement and the First Amendment, collectively, the "Amended Credit Agreement") to replace the LIBOR-based reference interest rate option with a reference interest rate option based on the Term Secured Overnight Financing Rate ("Term SOFR") plus an applicable credit spread adjustment (subject to a minimum floor of 0.00%). The Amendment did not make any other material changes to the terms and conditions of the Credit Agreement, including the representations and warranties, events of default, affirmative and negative covenants. The applicable interest rate for borrowings is based on Term SOFR plus a spread, which is based on our leverage ratio (as defined in the Amended Credit Agreement) at the time of a borrowing as follows: Leverage Ratio Commitment Fee ABR Spread Total Spread <1.00:1.00 0.275% 0.500% 1.500% ≥ 1.00:1.00 and < 2.00:1.00 0.300% 0.625% 1.625% ≥ 2.00:1.00 and < 3.00:1.00 0.325% 0.750% 1.750% ≥ 3.00:1.00 0.350% 1.000% 2.000% As of June 30, 2023, however, the applicable interest rate for borrowings was based on LIBOR plus the spread, which was 1.625%. As of June 30, 2023, there was $487 million of borrowings outstanding under the Amended Credit Agreement. As of June 30, 2023, we had borrowings available of $213 million, based on our maximum leverage ratio and our Consolidated EBITDA (as defined in the Amended Credit Agreement). The Amended Credit Agreement contains customary terms, as well as affirmative covenants, negative covenants and events of default. As of June 30, 2023, we were in compliance with all applicable covenants. We anticipate continued compliance in each of the next four quarters while continuing to monitor its future compliance based on current and future economic conditions. The borrowings are guaranteed by certain of the Company’s subsidiaries as defined in the Amended Credit Agreement. Our ability to borrow additional amounts under the Amended Credit Agreement is conditional upon the absence of any defaults, as well as the absence of any material adverse change (as defined in the Amended Credit Agreement). On June 14, 2021, we entered into interest rate swap agreements for the period October 17, 2022 through October 27, 2024. These transactions have the effect of fixing the LIBOR portion of the effective interest rate (before addition of the spread) on $350 million of indebtedness, drawn under the Amended Credit Agreement at the rate of 0.838% during the period. Under the terms of these transactions, we paid the fixed rate of 0.838% and the counterparties paid a floating rate based on the one-month LIBOR rate at each monthly calculation date. The Amended Credit Agreement monthly calculation date is the 16th of each month, and on June 16, 2023, one-month LIBOR was 5.16%. As of June 16, 2023, the all-in-rate on the $350 million of debt was 2.463%. On June 29, 2023, the Company amended each Swap agreement, in accordance with the practical expedients included in Accounting Standards Codification (“ASC”) 848, Reference Rate Reform, to replace the LIBOR Benchmark with a Term SOFR Benchmark. As a result of the amendments, we will pay a fixed blended rate of 0.7683% (plus a credit spread adjustment as defined in the Amended Credit Agreement) through October 27, 2024 on $350 million of borrowings under the Amended Credit Agreement. The effective date of the amended Swap agreements is July 17, 2023. On October 17, 2022, our interest rate swap agreements that were in effect from December 18, 2017 terminated. These transactions had the effect of fixing the LIBOR portion of the effective interest rate (before addition of the spread) on $350 million of indebtedness drawn under the Credit Agreement at the rate of 2.11% during the period. Under the terms of those transactions, we paid the fixed rate of 2.11% and the counterparties paid a floating rate based on the one-month LIBOR rate at each monthly calculation date. The all-in-rate on the $350 million of debt was 3.735% at the time the swap agreements terminated. These interest rate swaps are accounted for as a hedge of future cash flows, as further described in Note 14. Fair-Value Measurements . No cash collateral was received or pledged in relation to the swap agreements. Under the Amended Credit Agreement, we are required to maintain leverage and minimum interest coverage ratios (as defined in the Credit Agreement) of not greater than 3.50 to 1.00 and greater than 3.00 to 1.00, respectively. As of June 30, 2023, our leverage ratio was 1.49 to 1.00 and our interest coverage ratio was 14.36 to 1.00. We may purchase our Common Stock or pay dividends to the extent our leverage ratio remains at or below 3.50 to 1.00, and may make acquisitions with cash, provided our leverage ratio does not exceed the limits noted above.

Fair-Value Measurements

Fair-Value Measurements	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Fair-Value Measurements	Fair-Value Measurements Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. The Company uses a three-level fair value hierarchy that prioritizes the inputs used to measure fair value. This hierarchy requires the Company to maximize the use of observable inputs and minimize the use of unobservable inputs. The three levels of inputs used to measure fair value are as follows: • Level 1 - Quoted prices in active markets for identical assets or liabilities. • Level 2 - Observable inputs other than quoted prices included in Level 1, such as quoted prices in markets that are not active or other inputs that are observable or can be corroborated by observable market data. • Level 3 - Unobservable inputs that are supported by little or no market activity and are significant to the fair value of the assets or liabilities. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs. We had no Level 3 financial assets or liabilities at June 30, 2023 or at December 31, 2022. The following table presents the fair-value hierarchy for our Level 1 and Level 2 financial and non-financial assets and liabilities, which are measured at fair value on a recurring basis: June 30, 2023 December 31, 2022 Quoted prices in active markets Significant other observable inputs Quoted prices in active markets Significant other observable inputs (in thousands) (Level 1) (Level 2) (Level 1) (Level 2) Fair Value Assets: Cash equivalents $ 12,212 $ — $ 6,533 $ — Other Assets: Common stock of unaffiliated foreign public company (a) 565 — 602 — Interest rate swaps $ — $ 20,303 $ — $ 23,605 (a) Original cost basis $0.5 million. Cash equivalents include short-term securities that are considered to be highly liquid and easily tradable. These securities are valued using inputs observable in active markets for identical securities. The interest rate swaps are accounted for as hedges of future cash flows. The fair value of our interest rate swaps are derived from a discounted cash flow analysis based on the terms of the contract and the interest rate curve, and is included in Other assets and/or Other noncurrent liabilities in the Consolidated Balance Sheets. Amounts determined to be due within one year are reclassified to Other current assets and/or Accrued liabilities in the Consolidated Balance Sheets. Unrealized gains and losses on the interest rate swaps flow through the caption Derivative valuation adjustment in the Shareholders’ equity section of the Consolidated Balance Sheets. On June 29, 2023, the Company amended each Swap agreement, in accordance with the practical expedients included in ASC 848, Reference Rate Reform, to replace the LIBOR Benchmark with a Term SOFR Benchmark (See Note 13. Financial Instruments for additional information). As of June 30, 2023, these interest rate swaps were determined to be highly effective hedges of interest rate cash flow risk. Amounts accumulated in Other comprehensive income are reclassified as interest expense/(income), net when the related interest payments (that is, the hedged forecasted transactions), affect earnings. Interest expense/(income) related to payments under the active swap agreements totaled $(6.9) million for the six months ended June 30, 2023, and $2.9 million for the six months ended June 30, 2022. We operate our business in many regions of the world, and currency rate movements can have a significant effect on operating results. Foreign currency instruments are entered into periodically, and consist of foreign currency option contracts and forward contracts that are valued using quoted prices in active markets obtained from independent pricing sources. These instruments are measured using market foreign exchange prices and are recorded in the Consolidated Balance Sheets as Other current assets and Accounts payable, as applicable. Changes in fair value of these instruments are recorded as gains or losses within Other (income)/expense, net. When exercised, the foreign currency instruments are net settled with the same financial institution that bought or sold them. For all positions, whether options or forward contracts, there is risk from the possible inability of the financial institution to meet the terms of the contracts and the risk of unfavorable changes in interest and currency rates, which may reduce the value of the instruments. We seek to mitigate risk by evaluating the creditworthiness of counterparties and by monitoring the currency exchange and interest rate markets while reviewing the hedging risks and contracts to ensure compliance with our internal guidelines and policies. (Gains)/losses related to changes in fair value of derivative instruments that were recognized in Other (income)/expense, net in the Consolidated Statements of Income were as follows: Three months ended June 30, Six months ended June 30, (in thousands) 2023 2022 2023 2022 Derivatives not designated as hedging instruments: Foreign currency options (gains)/losses $ (138) $ 596 $ (123) $ (381)

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Asbestos Litigation Albany International Corp. is a defendant in suits brought in various courts in the United States by plaintiffs who allege that they have suffered personal injury as a result of exposure to asbestos-containing paper machine clothing synthetic dryer fabrics marketed during the period from 1967 to 1976 and used in certain paper mills. We were defending 3,601 claims as of June 30, 2023. The following table sets forth the number of claims filed, the number of claims settled, dismissed or otherwise resolved, and the aggregate settlement amount during the periods presented: (in thousands, except number of claims) Opening Number of Claims Claims Dismissed, Settled, or Resolved New Claims Closing Number of Claims Amounts Paid to As of December 31, 2022 3,609 43 32 3,598 $ 125 As of June 30, 2023 3,598 4 7 3,601 $ 4 We anticipate that additional claims will be filed against the Company and related companies in the future but are unable to predict the number and timing of such future claims. Due to the fact that information sufficient to meaningfully estimate a range of possible loss of a particular claim is typically not available until late in the discovery process, we do not believe a meaningful estimate can be made regarding the range of possible loss with respect to pending or future claims and therefore are unable to estimate a range of reasonably possible loss in excess of amounts already accrued for pending or future claims. While we believe we have meritorious defenses to these claims, we have settled certain claims for amounts we consider reasonable given the facts and circumstances of each case. Our insurance carrier has defended each case and funded settlements under a standard reservation of rights. As of June 30, 2023, we had resolved, by means of settlement or dismissal, 38,032 claims at a total cost of $10.6 million. Of this amount, almost 100% was paid by our insurance carrier, who has confirmed that we have approximately $140 million of remaining coverage under primary and excess policies that should be available with respect to current and future asbestos claims. The Company’s subsidiary, Brandon Drying Fabrics, Inc. (“Brandon”), is also a separate defendant in many of the asbestos cases in which Albany is named as a defendant, despite never having manufactured any fabrics containing asbestos. While Brandon was defending against 7,702 claims as of June 30, 2023, only twelve claims have been filed against Brandon since January 1, 2012, and only $15,000 in settlement costs have been incurred since 2001. Brandon was acquired by the Company in 1999 and has its own insurance policies covering periods prior to 1999. Since 2004, Brandon’s insurance carriers have covered 100% of indemnification and defense costs, subject to policy limits and a standard reservation of rights. In some of these asbestos cases, the Company is named both as a direct defendant and as the “successor in interest” to Mount Vernon Mills (“Mount Vernon”). We acquired certain assets from Mount Vernon in 1993. Certain plaintiffs allege injury caused by asbestos-containing products alleged to have been sold by Mount Vernon many years prior to this acquisition. Mount Vernon is contractually obligated to indemnify the Company against any liability arising out of such products. We deny any liability for products sold by Mount Vernon prior to the acquisition of the Mount Vernon assets. Pursuant to its contractual indemnification obligations, Mount Vernon has assumed the defense of these claims. On this basis, we have successfully moved for dismissal in a number of actions. We currently do not anticipate, based on currently available information, that the ultimate resolution of the aforementioned proceedings will have a material adverse effect on the financial position, results of operations, or cash flows of the Company. Although we cannot predict the number and timing of future claims, based on the foregoing factors, the trends in claims filed against us, and available insurance, we also do not currently anticipate that potential future claims will have a material adverse effect on our financial position, results of operations, or cash flows.

Changes in Shareholders' Equity

Changes in Shareholders' Equity	6 Months Ended
	Jun. 30, 2023
Stockholders' Equity Note [Abstract]
Changes in Shareholders’ Equity	Changes in Shareholders’ Equity The following table summarizes changes in Shareholders’ Equity for the period December 31, 2022 to June 30, 2023: Class A Common Stock Additional paid-in capital Retained earnings Accumulated items of other comprehensive income Class A Treasury Stock Noncontrolling Interest Total Shareholders' Equity (in thousands) Shares Amount Shares Amount December 31, 2022 40,785 $ 41 $ 441,540 $ 931,318 $ (144,927) 9,675 $ (364,923) $ 4,494 $ 867,543 Net income — — — 26,889 — — — 197 27,086 Compensation and benefits paid or payable in shares 58 — 378 — — — — — 378 Dividends declared on Class A Common Stock, $0.25 per share — — — (7,792) — — — — (7,792) Cumulative translation adjustments — — — — 13,881 — — 238 14,119 Pension and postretirement liability adjustments — — — — (916) — — — (916) Derivative valuation adjustment — — — — (2,902) — — — (2,902) March 31, 2023 40,842 $ 41 $ 441,917 $ 950,415 $ (134,864) 9,675 $ (364,923) $ 4,929 $ 897,515 Net income — — — 26,672 — — — 154 26,826 Compensation and benefits paid or payable in shares — — 811 — — — — — 811 Shares issued to Directors' — — 828 — — (12) 258 — 1,086 Dividends declared on Class A Common Stock, $0.25 per share — — — (7,795) — — — — (7,795) Cumulative translation adjustments — — — — (2,568) — — 179 (2,389) Pension and postretirement liability adjustments — — — — (724) — — — (724) Derivative valuation adjustment — — — — 389 — — — 389 June 30, 2023 40,842 $ 41 $ 443,556 $ 969,292 $ (137,767) 9,663 $ (364,665) $ 5,262 $ 915,719 The following table summarizes changes in Shareholders’ Equity for the period December 31, 2021 to June 30, 2022: Class A Common Stock Additional paid-in capital Retained earnings Accumulated items of other comprehensive income Class A Treasury Stock Noncontrolling Interest Total (in thousands) Shares Amount Shares Amount December 31, 2021 40,760 $ 41 $ 436,996 $ 863,057 $ (145,984) 8,665 $ (280,143) $ 3,638 $ 877,605 Net income — — — 27,737 — — — 338 28,075 Compensation and benefits paid or payable in shares 21 — 745 — — — — — 745 Options exercised — — 7 — — — — — 7 Purchase of Treasury shares (a) — — — — — 515 (43,937) — (43,937) Dividends declared on Class A Common Stock, $0.21 per share — — — (6,661) — — — — (6,661) Cumulative translation adjustments — — — — (1,730) — — 56 (1,674) Pension and postretirement liability adjustments — — — — 74 — — — 74 Derivative valuation adjustment — — — — 10,018 — — — 10,018 March 31, 2022 40,781 $ 41 $ 437,748 $ 884,133 $ (137,622) 9,180 $ (324,080) $ 4,032 $ 864,252 Net income — — — 39,201 — — — 168 39,369 Compensation and benefits paid or payable in shares 4 — 902 — — — — — 902 Shares issued to Directors' — — 800 — — (13) 285 — 1,085 Purchase of Treasury shares (a) — — — — — 508 (41,128) — (41,128) Dividends declared on Class A Common Stock, $0.21 per share — — — (6,529) — — — — (6,529) Cumulative translation adjustments — — — — (39,661) — — (91) (39,752) Pension and postretirement liability adjustments — — — — 234 — — — 234 Derivative valuation adjustment — — — — 3,349 — — — 3,349 June 30, 2022 40,785 $ 41 $ 439,450 $ 916,805 $ (173,700) 9,675 $ (364,923) $ 4,109 $ 821,782

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Pay vs Performance Disclosure
Net Income (Loss) Attributable to Parent	$ 26,672	$ 39,201	$ 53,561	$ 66,938

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation In the opinion of management, the accompanying unaudited consolidated financial statements contain all adjustments necessary for a fair presentation of results for such periods. Albany International Corp. ("Albany", the "Registrant", the "Company", "we", "us", or "our") consolidates the financial results of its subsidiaries for all periods presented. The results for any interim period are not necessarily indicative of results for the full year. The preparation of financial statements in accordance with U.S. generally accepted accounting principles (“GAAP”) requires management to make estimates and assumptions that affect the amounts reported in the Company's Consolidated Financial Statements and accompanying Notes. Actual results could differ materially from those estimates. The information included in this Quarterly Report on Form 10-Q should be read in conjunction with Albany International Corp.’s Annual Report on Form 10-K for the year ended December 31, 2022.

Reportable Segments and Reven_2

Reportable Segments and Revenue Recognition (Tables)	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The following tables show data by reportable segment, reconciled to consolidated totals included in the financial statements: Three months ended June 30, Six months ended June 30, (in thousands) 2023 2022 2023 2022 Net revenues Machine Clothing $ 159,217 $ 151,670 $ 312,439 $ 305,732 Albany Engineered Composites 114,906 109,699 230,780 199,806 Consolidated revenues $ 274,123 $ 261,369 $ 543,219 $ 505,538 Operating income/(loss) Machine Clothing $ 53,726 $ 54,861 $ 102,690 $ 104,505 Albany Engineered Composites 8,668 9,535 18,086 10,730 Corporate expenses (16,893) (13,681) (34,733) (25,766) Consolidated Operating income $ 45,501 $ 50,715 $ 86,043 $ 89,469 Reconciling items: Interest income (1,838) (846) (2,944) (1,498) Interest expense 4,944 4,779 9,340 9,040 Other (income)/expense, net (4,511) (7,045) (4,966) (10,973) Income before income taxes $ 46,906 $ 53,827 $ 84,613 $ 92,900
Schedule of Disaggregation of Revenue For Each Product Group by Timing of Revenue Recognition	The following table disaggregates revenue for each product group by timing of revenue recognition for the three months ended June 30, 2023: Three months ended June 30, 2023 (in thousands) Point in Time Revenue Recognition Over Time Revenue Recognition Total Machine Clothing $ 158,273 $ 944 $ 159,217 Albany Engineered Composites: ASC — 47,417 47,417 Other AEC 3,511 63,978 67,489 Total Albany Engineered Composites 3,511 111,395 114,906 Total revenues $ 161,784 $ 112,339 $ 274,123 The following table disaggregates revenue for each product group by timing of revenue recognition for the three months ended June 30, 2022: Three months ended June 30, 2022 (in thousands) Point in Time Revenue Recognition Over Time Revenue Recognition Total Machine Clothing $ 150,770 $ 900 $ 151,670 Albany Engineered Composites: ASC — 41,661 41,661 Other AEC 5,018 63,020 68,038 Total Albany Engineered Composites 5,018 104,681 109,699 Total revenues $ 155,788 $ 105,581 $ 261,369 The following table disaggregates revenue for each product group by timing of revenue recognition for the six months ended June 30, 2023: Six months ended June 30, 2023 (in thousands) Point in Time Revenue Over Time Revenue Total Machine Clothing $ 310,551 $ 1,888 $ 312,439 Albany Engineered Composites: ASC — 91,949 91,949 Other AEC 9,304 129,527 138,831 Total Albany Engineered Composites 9,304 221,476 230,780 Total revenues $ 319,855 $ 223,364 $ 543,219 The following table disaggregates revenue for each product group by timing of revenue recognition for the six months ended June 30, 2022: Six months ended June 30, 2022 (in thousands) Point in Time Revenue Over Time Revenue Total Machine Clothing $ 303,933 $ 1,799 $ 305,732 Albany Engineered Composites: ASC — 81,373 81,373 Other AEC 8,931 109,502 118,433 Total Albany Engineered Composites 8,931 190,875 199,806 Total revenues $ 312,864 $ 192,674 $ 505,538
Schedule of Disaggregate MC Segment Revenue by Significant Product or Service	The following table disaggregates MC segment revenue by significant product groupings (paper machine clothing ("PMC") and engineered fabrics), and, for PMC, the geographical region to which the paper machine clothing was sold: Three months ended June 30, Six months ended June 30, (in thousands) 2023 2022 2023 2022 Americas PMC $ 94,154 $ 79,062 $ 177,532 $ 155,678 Eurasia PMC 48,541 52,368 100,278 107,854 Engineered Fabrics 16,522 20,240 34,629 42,200 Total Machine Clothing net revenues $ 159,217 $ 151,670 $ 312,439 $ 305,732

Pensions and Other Postretire_2

Pensions and Other Postretirement Benefit Plans (Tables)	6 Months Ended
	Jun. 30, 2023
Retirement Benefits [Abstract]
Schedule of Net Benefit Costs	The composition of the net periodic benefit cost/ (income) for the six months ended June 30, 2023 and 2022, was as follows: Pension plans Other postretirement benefits (in thousands) 2023 2022 2023 2022 Components of net periodic benefit cost/(income): Service cost $ 565 $ 708 $ 30 $ 57 Interest cost 2,141 2,828 937 611 Expected return on assets (1,955) (3,405) — — Amortization of prior service cost/(income) (16) (1) (2,045) (2,244) Amortization of net actuarial loss 279 997 414 941 Net periodic benefit cost/(income) $ 1,014 $ 1,127 $ (664) $ (635)

Other (Income)_Expense, net (Ta

Other (Income)/Expense, net (Tables)	6 Months Ended
	Jun. 30, 2023
Other Income and Expenses [Abstract]
Schedule of Other (Income)/Expense, net	The components of Other (income)/expense, net are: Three months ended June 30, Six months ended June 30, (in thousands) 2023 2022 2023 2022 Currency transaction (gains)/losses $ (4,193) $ (7,284) $ (4,133) $ (11,024) Bank fees and amortization of debt issuance costs 33 80 91 176 Components of net periodic pension and postretirement cost other than service cost (120) (137) (245) (273) Other (231) 296 (679) 148 Total other (income)/expense, net $ (4,511) $ (7,045) $ (4,966) $ (10,973)

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit)	The following table presents components of income tax expense for the three and six months ended June 30, 2023 and 2022: Three months ended June 30, Six months ended June 30, (in thousands, except percentages) 2023 2022 2023 2022 Income tax based on income from operations (1) $ 13,909 $ 15,165 $ 24,967 $ 26,107 Provision for change in estimated tax rate 124 66 124 66 Income tax before discrete items 14,033 15,231 25,091 26,173 Discrete tax expense: Exercise of U.S. stock options — — — (9) Impact of amended tax returns — (17) — (98) True-up of prior year estimated taxes 1,941 (612) 1,396 (508) Enacted tax legislation and rate change — — 313 — Provision for/resolution of tax audits and contingencies, net 750 (146) 778 (140) Impact of long range tax planning — — (443) — Withholding tax related to internal restructuring 3,026 — 3,026 — Other 330 2 540 38 Total income tax expense/(benefit) $ 20,080 $ 14,458 $ 30,701 $ 25,456 (1) Income tax is calculated at estimated annualized effective tax rate of 29.7% and 28.2% for the three and six months ended June 30, 2023 and 2022, respectively.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The amounts used in computing earnings per share and the weighted average number of shares of potentially dilutive securities are as follows: Three months ended June 30, Six months ended June 30, (in thousands, except market price and earnings per share) 2023 2022 2023 2022 Net income attributable to the Company $ 26,672 $ 39,201 $ 53,561 $ 66,938 Weighted average number of shares: Weighted average number of shares used in calculating basic net income per share 31,174 31,268 31,152 31,571 Effect of dilutive stock-based compensation plans: RSU and MPP shares 95 110 91 97 Weighted average number of shares used in calculating diluted net income per share 31,269 31,378 31,243 31,668 Net income attributable to the Company per share: Basic $ 0.86 $ 1.25 $ 1.72 $ 2.12 Diluted $ 0.85 $ 1.25 $ 1.71 $ 2.11

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (AOCI) (Tables)	6 Months Ended
	Jun. 30, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The table below presents changes in the components of AOCI for the period from December 31, 2022 to June 30, 2023: (in thousands) Translation adjustments Pension and postretirement liability adjustments Derivative valuation adjustment Total Other Comprehensive Income December 31, 2022 $ (146,851) $ (15,783) $ 17,707 $ (144,927) Other comprehensive income/(loss) before reclassifications, net of tax 11,313 (691) 2,642 13,264 Interest (expense)/income related to swaps reclassified to the Consolidated Statements of Income, net of tax — — (5,155) (5,155) Pension and postretirement liability adjustments reclassified to Consolidated Statements of Income, net of tax — (949) — (949) Net current period other comprehensive income 11,313 (1,640) (2,513) 7,160 June 30, 2023 $ (135,538) $ (17,423) $ 15,194 $ (137,767) The table below presents changes in the components of AOCI for the period from December 31, 2021 to June 30, 2022: (in thousands) Translation adjustments Pension and postretirement liability adjustments Derivative valuation adjustment Total Other Comprehensive Income December 31, 2021 $ (105,880) $ (38,490) $ (1,614) $ (145,984) Other comprehensive income/(loss) before reclassifications, net of tax (41,391) 521 11,228 (29,642) Interest (expense)/income related to swaps reclassified to the Consolidated Statements of Income, net of tax — — 2,139 2,139 Pension and postretirement liability adjustments reclassified to Consolidated Statements of Income, net of tax — (213) — (213) Net current period other comprehensive income (41,391) 308 13,367 (27,716) June 30, 2022 $ (147,271) $ (38,182) $ 11,753 $ (173,700)
Summary of Reclassification out of Accumulated Other Comprehensive Income	The table below presents the expense/(income) amounts reclassified from AOCI, and the line items of the Consolidated Statements of Income that were affected for the three and six months ended June 30, 2023 and 2022: Three months ended June 30, Six months ended June 30, (in thousands) 2023 2022 2023 2022 Pretax Derivative valuation reclassified from Accumulated Other Comprehensive Income: Other (income)/expense, net related to interest rate swaps included in Income before taxes $ (3,678) $ 1,168 $ (6,901) $ 2,864 Income tax effect 931 (295) 1,746 (725) Effect on net income due to items reclassified from Accumulated Other Comprehensive Income $ (2,747) $ 873 $ (5,155) $ 2,139 Pretax pension and postretirement liabilities reclassified from Accumulated Other Comprehensive Income: Amortization of prior service credit $ (1,030) $ (1,122) $ (2,061) $ (2,245) Amortization of net actuarial loss 347 967 693 1,938 Total pretax amount reclassified (a) (683) (155) (1,368) (307) Income tax effect 209 47 419 94 Effect on net income due to items reclassified from Accumulated Other Comprehensive Income $ (474) $ (108) $ (949) $ (213) (a) These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note 3. Pensions and Other Postretirement Benefit Plans ).

Noncontrolling Interest (Tables

Noncontrolling Interest (Tables)	6 Months Ended
	Jun. 30, 2023
Noncontrolling Interest [Abstract]
Schedule of Income Attributable to Noncontrolling Interest and Noncontrolling Equity	The table below presents a reconciliation of income attributable to the noncontrolling interest and noncontrolling equity in the Company’s subsidiary, Albany Safran Composites, LLC: Six months ended June 30, (in thousands, except percentages) 2023 2022 Net income of Albany Safran Composites (ASC) $ 4,146 $ 5,690 Less: Return attributable to the Company's preferred holding 637 632 Net income of ASC available for common ownership $ 3,509 $ 5,058 Ownership percentage of noncontrolling shareholder 10 % 10 % Net income attributable to the noncontrolling interest $ 351 $ 506 Noncontrolling interest, beginning of year $ 4,494 $ 3,638 Net income attributable to noncontrolling interest 351 506 Changes in other comprehensive income attributable to the noncontrolling interest 417 (35) Noncontrolling interest, end of interim period $ 5,262 $ 4,109

Accounts Receivable (Tables)

Accounts Receivable (Tables)	6 Months Ended
	Jun. 30, 2023
Receivables [Abstract]
Schedule of Accounts, Notes, Loans and Financing Receivable	As of June 30, 2023 and December 31, 2022, Accounts receivable consisted of the following: (in thousands) June 30, December 31, Trade and other accounts receivable $ 226,996 $ 179,676 Bank promissory notes 18,859 23,439 Allowance for expected credit losses (3,666) (3,097) Accounts receivable, net $ 242,189 $ 200,018
Schedule of Contract Receivables	As of June 30, 2023 and December 31, 2022, Noncurrent receivables consisted of the following: (in thousands) June 30, December 31, Noncurrent receivables $ 26,702 $ 28,053 Allowance for expected credit losses (134) (140) Noncurrent receivables, net $ 26,568 $ 27,913

Contract Assets and Liabiliti_2

Contract Assets and Liabilities (Tables)	6 Months Ended
	Jun. 30, 2023
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Abstract]
Schedule of Contract Assets and Contract Liabilities	As of June 30, 2023 and December 31, 2022, Contract assets and Contract liabilities consisted of the following: (in thousands) June 30, December 31, Contract assets $ 146,054 $ 149,443 Allowance for expected credit losses (730) (748) Contract assets, net $ 145,324 $ 148,695 Contract liabilities $ 6,796 $ 15,176

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2023
Inventory Disclosure [Abstract]
Schedule of Inventory	As of June 30, 2023 and December 31, 2022, Inventories consisted of the following: (in thousands) June 30, 2023 December 31, 2022 Raw materials $ 78,251 $ 74,631 Work in process 57,691 50,516 Finished goods 15,418 13,903 Total inventories $ 151,360 $ 139,050

Financial Instruments (Tables)

Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	Long-term debt, principally to banks and noteholders, consists of: (in thousands, except interest rates) June 30, 2023 December 31, 2022 Revolving credit agreement with borrowings outstanding at an end of period interest rate of 3.68% in 2023 and 3.16% in 2022 (including the effect of interest rate hedging transactions, as described below), due in 2024 $ 487,000 $ 439,000
Schedule Interest Rate for Borrowings	The applicable interest rate for borrowings is based on Term SOFR plus a spread, which is based on our leverage ratio (as defined in the Amended Credit Agreement) at the time of a borrowing as follows: Leverage Ratio Commitment Fee ABR Spread Total Spread <1.00:1.00 0.275% 0.500% 1.500% ≥ 1.00:1.00 and < 2.00:1.00 0.300% 0.625% 1.625% ≥ 2.00:1.00 and < 3.00:1.00 0.325% 0.750% 1.750% ≥ 3.00:1.00 0.350% 1.000% 2.000%

Fair-Value Measurements (Tables

Fair-Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Summary of Fair Value Measurements, Recurring and Nonrecurring	The following table presents the fair-value hierarchy for our Level 1 and Level 2 financial and non-financial assets and liabilities, which are measured at fair value on a recurring basis: June 30, 2023 December 31, 2022 Quoted prices in active markets Significant other observable inputs Quoted prices in active markets Significant other observable inputs (in thousands) (Level 1) (Level 2) (Level 1) (Level 2) Fair Value Assets: Cash equivalents $ 12,212 $ — $ 6,533 $ — Other Assets: Common stock of unaffiliated foreign public company (a) 565 — 602 — Interest rate swaps $ — $ 20,303 $ — $ 23,605 (a) Original cost basis $0.5 million.
Summary of Derivative Instruments, Gain (Loss)	(Gains)/losses related to changes in fair value of derivative instruments that were recognized in Other (income)/expense, net in the Consolidated Statements of Income were as follows: Three months ended June 30, Six months ended June 30, (in thousands) 2023 2022 2023 2022 Derivatives not designated as hedging instruments: Foreign currency options (gains)/losses $ (138) $ 596 $ (123) $ (381)

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Schedule of Loss Contingencies by Contingency	The following table sets forth the number of claims filed, the number of claims settled, dismissed or otherwise resolved, and the aggregate settlement amount during the periods presented: (in thousands, except number of claims) Opening Number of Claims Claims Dismissed, Settled, or Resolved New Claims Closing Number of Claims Amounts Paid to As of December 31, 2022 3,609 43 32 3,598 $ 125 As of June 30, 2023 3,598 4 7 3,601 $ 4

Changes in Shareholders' Equi_2

Changes in Shareholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2023
Stockholders' Equity Note [Abstract]
Schedule of Stockholders Equity	The following table summarizes changes in Shareholders’ Equity for the period December 31, 2022 to June 30, 2023: Class A Common Stock Additional paid-in capital Retained earnings Accumulated items of other comprehensive income Class A Treasury Stock Noncontrolling Interest Total Shareholders' Equity (in thousands) Shares Amount Shares Amount December 31, 2022 40,785 $ 41 $ 441,540 $ 931,318 $ (144,927) 9,675 $ (364,923) $ 4,494 $ 867,543 Net income — — — 26,889 — — — 197 27,086 Compensation and benefits paid or payable in shares 58 — 378 — — — — — 378 Dividends declared on Class A Common Stock, $0.25 per share — — — (7,792) — — — — (7,792) Cumulative translation adjustments — — — — 13,881 — — 238 14,119 Pension and postretirement liability adjustments — — — — (916) — — — (916) Derivative valuation adjustment — — — — (2,902) — — — (2,902) March 31, 2023 40,842 $ 41 $ 441,917 $ 950,415 $ (134,864) 9,675 $ (364,923) $ 4,929 $ 897,515 Net income — — — 26,672 — — — 154 26,826 Compensation and benefits paid or payable in shares — — 811 — — — — — 811 Shares issued to Directors' — — 828 — — (12) 258 — 1,086 Dividends declared on Class A Common Stock, $0.25 per share — — — (7,795) — — — — (7,795) Cumulative translation adjustments — — — — (2,568) — — 179 (2,389) Pension and postretirement liability adjustments — — — — (724) — — — (724) Derivative valuation adjustment — — — — 389 — — — 389 June 30, 2023 40,842 $ 41 $ 443,556 $ 969,292 $ (137,767) 9,663 $ (364,665) $ 5,262 $ 915,719 The following table summarizes changes in Shareholders’ Equity for the period December 31, 2021 to June 30, 2022: Class A Common Stock Additional paid-in capital Retained earnings Accumulated items of other comprehensive income Class A Treasury Stock Noncontrolling Interest Total (in thousands) Shares Amount Shares Amount December 31, 2021 40,760 $ 41 $ 436,996 $ 863,057 $ (145,984) 8,665 $ (280,143) $ 3,638 $ 877,605 Net income — — — 27,737 — — — 338 28,075 Compensation and benefits paid or payable in shares 21 — 745 — — — — — 745 Options exercised — — 7 — — — — — 7 Purchase of Treasury shares (a) — — — — — 515 (43,937) — (43,937) Dividends declared on Class A Common Stock, $0.21 per share — — — (6,661) — — — — (6,661) Cumulative translation adjustments — — — — (1,730) — — 56 (1,674) Pension and postretirement liability adjustments — — — — 74 — — — 74 Derivative valuation adjustment — — — — 10,018 — — — 10,018 March 31, 2022 40,781 $ 41 $ 437,748 $ 884,133 $ (137,622) 9,180 $ (324,080) $ 4,032 $ 864,252 Net income — — — 39,201 — — — 168 39,369 Compensation and benefits paid or payable in shares 4 — 902 — — — — — 902 Shares issued to Directors' — — 800 — — (13) 285 — 1,085 Purchase of Treasury shares (a) — — — — — 508 (41,128) — (41,128) Dividends declared on Class A Common Stock, $0.21 per share — — — (6,529) — — — — (6,529) Cumulative translation adjustments — — — — (39,661) — — (91) (39,752) Pension and postretirement liability adjustments — — — — 234 — — — 234 Derivative valuation adjustment — — — — 3,349 — — — 3,349 June 30, 2022 40,785 $ 41 $ 439,450 $ 916,805 $ (173,700) 9,675 $ (364,923) $ 4,109 $ 821,782

Significant Accounting Polici_3

Significant Accounting Policies (Details) - Heimbach € in Millions	Jun. 14, 2023 EUR (€)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Purchase price	€ 153
Debt incurred	€ 21

Reportable Segments and Reven_3

Reportable Segments and Revenue Recognition (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Segment Reporting Information [Line Items]
Net revenues	$ 274,123	$ 261,369	$ 543,219	$ 505,538
Operating income (loss)	45,501	50,715	86,043	89,469
Albany Engineered Composites
Segment Reporting Information [Line Items]
Net revenues	114,906	109,699	230,780	199,806
Operating income (loss)	(1,900)	$ 1,200	(4,000)	(600)
Revenue Benchmark | Product Concentration Risk | Albany Engineered Composites | US Government Contracts Or Programs
Segment Reporting Information [Line Items]
Concentration risk percentage					46%
SAFRAN Group | Albany Engineered Composites
Segment Reporting Information [Line Items]
Net revenues			93,500	$ 83,100
Receivables	$ 88,900		$ 88,900		$ 80,800
SAFRAN Group | Revenue Benchmark | Customer Concentration Risk | Albany Engineered Composites
Segment Reporting Information [Line Items]
Concentration risk percentage					16%
Albany Safran Composites, LLC
Segment Reporting Information [Line Items]
Ownership percentage of noncontrolling shareholder	10%		10%

Reportable Segments and Reven_4

Reportable Segments and Revenue Recognition (Schedule of Financial Data by Reporting Segment) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting Information [Line Items]
Net revenues	$ 274,123	$ 261,369	$ 543,219	$ 505,538
Operating income (loss)	45,501	50,715	86,043	89,469
Other (income)/expense, net	(4,511)	(7,045)	(4,966)	(10,973)
Income before income taxes	46,906	53,827	84,613	92,900
Corporate, Non-Segment
Segment Reporting Information [Line Items]
Operating income (loss)	(16,893)	(13,681)	(34,733)	(25,766)
Segment Reconciling Items
Segment Reporting Information [Line Items]
Interest income	(1,838)	(846)	(2,944)	(1,498)
Interest expense	4,944	4,779	9,340	9,040
Other (income)/expense, net	(4,511)	(7,045)	(4,966)	(10,973)
Machine Clothing
Segment Reporting Information [Line Items]
Net revenues	159,217	151,670	312,439	305,732
Machine Clothing | Operating Segments
Segment Reporting Information [Line Items]
Net revenues	159,217	151,670	312,439	305,732
Operating income (loss)	53,726	54,861	102,690	104,505
Albany Engineered Composites
Segment Reporting Information [Line Items]
Net revenues	114,906	109,699	230,780	199,806
Operating income (loss)	(1,900)	1,200	(4,000)	(600)
Albany Engineered Composites | Operating Segments
Segment Reporting Information [Line Items]
Net revenues	114,906	109,699	230,780	199,806
Operating income (loss)	$ 8,668	$ 9,535	$ 18,086	$ 10,730

Reportable Segments and Reven_5

Reportable Segments and Revenue Recognition (Schedule of Disaggregate Revenue for Each Business Segment) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Disaggregation of Revenue [Line Items]
Net revenues	$ 274,123	$ 261,369	$ 543,219	$ 505,538
Point in Time Revenue Recognition
Disaggregation of Revenue [Line Items]
Net revenues	161,784	155,788	319,855	312,864
Over Time Revenue Recognition
Disaggregation of Revenue [Line Items]
Net revenues	112,339	105,581	223,364	192,674
Machine Clothing
Disaggregation of Revenue [Line Items]
Net revenues	159,217	151,670	312,439	305,732
Machine Clothing | Point in Time Revenue Recognition
Disaggregation of Revenue [Line Items]
Net revenues	158,273	150,770	310,551	303,933
Machine Clothing | Over Time Revenue Recognition
Disaggregation of Revenue [Line Items]
Net revenues	944	900	1,888	1,799
Albany Engineered Composites
Disaggregation of Revenue [Line Items]
Net revenues	114,906	109,699	230,780	199,806
Albany Engineered Composites | Point in Time Revenue Recognition
Disaggregation of Revenue [Line Items]
Net revenues	3,511	5,018	9,304	8,931
Albany Engineered Composites | Over Time Revenue Recognition
Disaggregation of Revenue [Line Items]
Net revenues	111,395	104,681	221,476	190,875
ASC
Disaggregation of Revenue [Line Items]
Net revenues	47,417	41,661	91,949	81,373
ASC | Point in Time Revenue Recognition
Disaggregation of Revenue [Line Items]
Net revenues	0	0	0	0
ASC | Over Time Revenue Recognition
Disaggregation of Revenue [Line Items]
Net revenues	47,417	41,661	91,949	81,373
Other AEC
Disaggregation of Revenue [Line Items]
Net revenues	67,489	68,038	138,831	118,433
Other AEC | Point in Time Revenue Recognition
Disaggregation of Revenue [Line Items]
Net revenues	3,511	5,018	9,304	8,931
Other AEC | Over Time Revenue Recognition
Disaggregation of Revenue [Line Items]
Net revenues	$ 63,978	$ 63,020	$ 129,527	$ 109,502

Reportable Segments and Reven_6

Reportable Segments and Revenue Recognition (Schedule of Disaggregate MC Segment Revenue by Significant Product or Service) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Disaggregation of Revenue [Line Items]
Net revenues	$ 274,123	$ 261,369	$ 543,219	$ 505,538
Machine Clothing
Disaggregation of Revenue [Line Items]
Net revenues	159,217	151,670	312,439	305,732
Machine Clothing | Americas PMC
Disaggregation of Revenue [Line Items]
Net revenues	94,154	79,062	177,532	155,678
Machine Clothing | Eurasia PMC
Disaggregation of Revenue [Line Items]
Net revenues	48,541	52,368	100,278	107,854
Machine Clothing | Engineered Fabrics
Disaggregation of Revenue [Line Items]
Net revenues	$ 16,522	$ 20,240	$ 34,629	$ 42,200

Reportable Segments and Reven_7

Reportable Segments and Revenue Recognition (Remaining Performance Obligation) (Details) - USD ($) $ in Millions	Jun. 30, 2023	Jun. 30, 2022
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 792	$ 579
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 78
Revenue, remaining performance obligation, expected timing of satisfaction, period	6 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 131
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 148
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period

Pensions and Other Postretire_3

Pensions and Other Postretirement Benefit Plans (Schedule of Net Periodic Benefit Plan Cost) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Pension plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 565	$ 708
Interest cost	2,141	2,828
Expected return on assets	(1,955)	(3,405)
Amortization of prior service cost/(income)	(16)	(1)
Amortization of net actuarial loss	279	997
Net periodic benefit cost/(income)	1,014	1,127
Other postretirement benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	30	57
Interest cost	937	611
Expected return on assets	0	0
Amortization of prior service cost/(income)	(2,045)	(2,244)
Amortization of net actuarial loss	414	941
Net periodic benefit cost/(income)	$ (664)	$ (635)

Other (Income)_Expense, net (De

Other (Income)/Expense, net (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Other Income and Expenses [Abstract]
Currency transaction (gains)/losses	$ (4,193)	$ (7,284)	$ (4,133)	$ (11,024)
Bank fees and amortization of debt issuance costs	33	80	91	176
Components of net periodic pension and postretirement cost other than service cost	(120)	(137)	(245)	(273)
Other	(231)	296	(679)	148
Total other (income)/expense, net	$ (4,511)	$ (7,045)	$ (4,966)	$ (10,973)

Other (Income)_Expense, net (Na

Other (Income)/Expense, net (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Other Income and Expenses [Abstract]
Foreign currency transaction gain (loss), realized	$ 4.2	$ 7.3	$ 4.1	$ 11

Income Taxes (Schedule of Compo

Income Taxes (Schedule of Components of Income Tax Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Income tax based on income from continuing operations	$ 13,909	$ 15,165	$ 24,967	$ 26,107
Provision for change in estimated tax rate	124	66	124	66
Income tax before discrete items	14,033	15,231	25,091	26,173
Discrete tax expense:
Exercise of U.S. stock options	0	0	0	(9)
Impact of amended tax returns	0	(17)	0	(98)
True-up of prior year estimated taxes	1,941	(612)	1,396	(508)
Enacted tax legislation and rate change	0	0	313	0
Provision for/resolution of tax audits and contingencies, net	750	(146)	778	(140)
Impact of long range tax planning	0	0	(443)	0
Withholding tax related to internal restructuring	3,026	0	3,026	0
Other	330	2	540	38
Total income tax expense/(benefit)	$ 20,080	$ 14,458	$ 30,701	$ 25,456
Effective income tax rate reconciliation, percent	29.70%	28.20%	29.70%	28.20%

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net income attributable to the Company	$ 26,672	$ 39,201	$ 53,561	$ 66,938
Weighted average number of shares:
Weighted average number of shares used in calculating basic net income per share (in shares)	31,174	31,268	31,152	31,571
Effect of dilutive stock-based compensation plans:
Weighted average number of shares used in calculating diluted net income per share (in shares)	31,269	31,378	31,243	31,668
Net income attributable to the Company per share:
Basic (in dollars per share)	$ 0.86	$ 1.25	$ 1.72	$ 2.12
Diluted (in dollars per share)	$ 0.85	$ 1.25	$ 1.71	$ 2.11
RSU and MPP
Effect of dilutive stock-based compensation plans:
Weighted average number diluted shares outstanding adjustment (in shares)	95	110	91	97

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (AOCI) (Schedule of Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ 863,049
Other comprehensive income/(loss) before reclassifications, net of tax	13,264	$ (29,642)
Interest (expense)/income related to swaps reclassified to the Consolidated Statements of Income, net of tax	(5,155)	2,139
Pension and postretirement liability adjustments reclassified to Consolidated Statements of Income, net of tax	(949)	(213)
Net current period other comprehensive income	7,160	(27,716)
Ending balance	910,457
Accumulated items of other comprehensive income
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(144,927)	(145,984)
Ending balance	(137,767)	(173,700)
Translation adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(146,851)	(105,880)
Other comprehensive income/(loss) before reclassifications, net of tax	11,313	(41,391)
Interest (expense)/income related to swaps reclassified to the Consolidated Statements of Income, net of tax	0	0
Pension and postretirement liability adjustments reclassified to Consolidated Statements of Income, net of tax	0	0
Net current period other comprehensive income	11,313	(41,391)
Ending balance	(135,538)	(147,271)
Pension and postretirement liability adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(15,783)	(38,490)
Other comprehensive income/(loss) before reclassifications, net of tax	(691)	521
Interest (expense)/income related to swaps reclassified to the Consolidated Statements of Income, net of tax	0	0
Pension and postretirement liability adjustments reclassified to Consolidated Statements of Income, net of tax	(949)	(213)
Net current period other comprehensive income	(1,640)	308
Ending balance	(17,423)	(38,182)
Derivative valuation adjustment
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	17,707	(1,614)
Other comprehensive income/(loss) before reclassifications, net of tax	2,642	11,228
Interest (expense)/income related to swaps reclassified to the Consolidated Statements of Income, net of tax	(5,155)	2,139
Pension and postretirement liability adjustments reclassified to Consolidated Statements of Income, net of tax	0	0
Net current period other comprehensive income	(2,513)	13,367
Ending balance	$ 15,194	$ 11,753

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Income (AOCI) (Schedule of Items Reclassified to Statement of Income) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest (income) expense	$ 3,106	$ 3,933	$ 6,396	$ 7,542
Prior service credit	(1,030)	(1,122)	(2,061)	(2,245)
Net actuarial loss	347	967	693	1,938
Income before income taxes	46,906	53,827	84,613	92,900
Income tax effect	(20,080)	(14,458)	(30,701)	(25,456)
Net income attributable to the Company	26,672	39,201	53,561	66,938
Reclassification out of Accumulated Other Comprehensive Income | Derivative valuation adjustment
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest (income) expense	(3,678)	1,168	(6,901)	2,864
Income tax effect	931	(295)	1,746	(725)
Net income attributable to the Company	(2,747)	873	(5,155)	2,139
Reclassification out of Accumulated Other Comprehensive Income | Pension and postretirement liability adjustments
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Prior service credit	(1,030)	(1,122)	(2,061)	(2,245)
Net actuarial loss	347	967	693	1,938
Income before income taxes	(683)	(155)	(1,368)	(307)
Income tax effect	209	47	419	94
Net income attributable to the Company	$ (474)	$ (108)	$ (949)	$ (213)

Noncontrolling Interest (Narrat

Noncontrolling Interest (Narrative) (Details) - Albany Safran Composites, LLC	Jun. 30, 2023	Jun. 30, 2022	Oct. 31, 2013
Noncontrolling Interest [Line Items]
Ownership percentage of noncontrolling shareholder	10%
Safran
Noncontrolling Interest [Line Items]
Ownership percentage of noncontrolling shareholder	10%	10%	10%

Noncontrolling Interest (Income

Noncontrolling Interest (Income Attributable to the Noncontrolling Interest and Noncontrolling Equity) (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022	Oct. 31, 2013
Noncontrolling Interest [Line Items]
Net income of Albany Safran Composites (ASC)	$ 26,826	$ 27,086	$ 39,369	$ 28,075	$ 53,912	$ 67,444
Net income of ASC available for common ownership	26,672		39,201		53,561	66,938
Net income attributable to the noncontrolling interest	154		168		351	506
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Noncontrolling interest, beginning of year		4,494			4,494
Net income attributable to the noncontrolling interest	154		168		351	506
Noncontrolling interest, end of interim period	$ 5,262				$ 5,262
Albany Safran Composites, LLC
Noncontrolling Interest [Line Items]
Ownership percentage of noncontrolling shareholder	10%				10%
Albany Safran Composites, LLC
Noncontrolling Interest [Line Items]
Net income of Albany Safran Composites (ASC)					$ 4,146	5,690
Less: Return attributable to the Company's preferred holding					637	632
Net income of ASC available for common ownership					3,509	5,058
Net income attributable to the noncontrolling interest					351	506
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Noncontrolling interest, beginning of year		$ 4,494		$ 3,638	4,494	3,638
Net income attributable to the noncontrolling interest					351	506
Changes in other comprehensive income attributable to the noncontrolling interest					417	(35)
Noncontrolling interest, end of interim period	$ 5,262		$ 4,109		$ 5,262	$ 4,109
Safran | Albany Safran Composites, LLC
Noncontrolling Interest [Line Items]
Ownership percentage of noncontrolling shareholder	10%		10%		10%	10%	10%

Accounts Receivable (Schedule o

Accounts Receivable (Schedule of Accounts Receivable) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Receivables [Abstract]
Trade and other accounts receivable	$ 226,996	$ 179,676
Bank promissory notes	18,859	23,439
Allowance for expected credit losses	(3,666)	(3,097)
Accounts receivable, net	$ 242,189	$ 200,018

Accounts Receivable (Narrative)

Accounts Receivable (Narrative) (Details)	6 Months Ended
	Jun. 30, 2023
Receivables [Abstract]
Noncurrent receivables invoice, period	10 years

Accounts Receivable (Schedule_2

Accounts Receivable (Schedule of Contract Receivables) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Receivables [Abstract]
Noncurrent receivables	$ 26,702	$ 28,053
Allowance for expected credit losses	(134)	(140)
Noncurrent receivables, net	$ 26,568	$ 27,913

Contract Assets and Liabiliti_3

Contract Assets and Liabilities (Schedule of Contract Assets and Contract Liabilities) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Abstract]
Contract assets	$ 146,054	$ 149,443
Allowance for expected credit losses	(730)	(748)
Contract assets, net	145,324	148,695
Contract liabilities	$ 6,796	$ 15,176

Contract Assets and Liabiliti_4

Contract Assets and Liabilities (Narrative) (Details) - USD ($)	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Abstract]
Contract with customer, asset, period decrease	$ 3,400,000
Contract with customer, asset, impairment loss	0	$ 0
Decrease in contract with customer, liability	8,400,000
Contract with customer, liability, revenue recognized	$ 11,700,000	$ 5,500,000

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Raw materials	$ 78,251	$ 74,631
Work in process	57,691	50,516
Finished goods	15,418	13,903
Total inventories	$ 151,360	$ 139,050

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Details) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2023 reporting_unit	Jun. 30, 2023 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Number of reporting units | reporting_unit	2
Goodwill impairment charges | $		$ 0

Financial Instruments (Schedule

Financial Instruments (Schedule of Long-Term Debt) (Details) - Line of Credit - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Long-term debt	$ 487,000	$ 439,000
Interest rate, effective percentage	3.68%	3.16%

Financial Instruments (Narrativ

Financial Instruments (Narrative) (Details)	Jun. 23, 2023	Jun. 16, 2023 USD ($)	Oct. 27, 2020 USD ($)	Nov. 07, 2017 USD ($)	Jun. 30, 2023 USD ($)	Jun. 29, 2023 USD ($)	Dec. 31, 2022 USD ($)	Oct. 17, 2022 USD ($)	Jun. 14, 2021 USD ($)
Debt Instrument [Line Items]
Current maturities of long-term debt					$ 0		$ 0
Maximum leverage ratio allowed					3.50
Minimum interest coverage ratio required					3
Leverage ratio					1.49
Interest coverage ratio					14.36
Line of Credit | Unsecured Debt
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity			$ 700,000,000	$ 685,000,000
Debt instrument, term			4 years	5 years
Borrowings outstanding					$ 487,000,000
Line of credit facility, remaining borrowing capacity					$ 213,000,000
Line of Credit | SOFR | Minimum | Unsecured Debt
Debt Instrument [Line Items]
Total spread	0%
Line of Credit | London Interbank Offered Rate | Unsecured Debt
Debt Instrument [Line Items]
Total spread		1.625%
Line of Credit | Interest Rate Swap
Debt Instrument [Line Items]
Derivative, notional amount		$ 350,000,000				$ 350,000,000		$ 350,000,000	$ 350,000,000
Derivative, fixed interest rate						0.7683%		2.11%	0.838%
All-in interest rate		2.463%						3.735%
Line of Credit | Interest Rate Swap | London Interbank Offered Rate
Debt Instrument [Line Items]
Derivative, basis spread on variable rate		5.16%

Financial Instruments (Schedu_2

Financial Instruments (Schedule Interest Rate for Borrowings) (Details) - Line of Credit - Unsecured Debt		6 Months Ended
	Jun. 23, 2023	Jun. 30, 2023
Less than 1.00:1.00
Line of Credit Facility [Line Items]
Commitment Fee		0.275%
Less than 1.00:1.00 | Maximum
Line of Credit Facility [Line Items]
Leverage Ratio		1
Greater than or equal to 1.00:1.00 and less than 2.00:1.00
Line of Credit Facility [Line Items]
Commitment Fee		0.30%
Greater than or equal to 1.00:1.00 and less than 2.00:1.00 | Maximum
Line of Credit Facility [Line Items]
Leverage Ratio		2
Greater than or equal to 1.00:1.00 and less than 2.00:1.00 | Minimum
Line of Credit Facility [Line Items]
Leverage Ratio		1
Greater than or equal to 2.00:1.00 and less than 3.00:1.00
Line of Credit Facility [Line Items]
Commitment Fee		0.325%
Greater than or equal to 2.00:1.00 and less than 3.00:1.00 | Maximum
Line of Credit Facility [Line Items]
Leverage Ratio		3
Greater than or equal to 2.00:1.00 and less than 3.00:1.00 | Minimum
Line of Credit Facility [Line Items]
Leverage Ratio		2
Greater than or equal to 3.00:1.00
Line of Credit Facility [Line Items]
Commitment Fee		0.35%
Greater than or equal to 3.00:1.00 | Minimum
Line of Credit Facility [Line Items]
Leverage Ratio		3
SOFR | Minimum
Line of Credit Facility [Line Items]
Total Spread	0%
SOFR | Less than 1.00:1.00
Line of Credit Facility [Line Items]
Total Spread		1.50%
SOFR | Greater than or equal to 1.00:1.00 and less than 2.00:1.00
Line of Credit Facility [Line Items]
Total Spread		1.625%
SOFR | Greater than or equal to 2.00:1.00 and less than 3.00:1.00
Line of Credit Facility [Line Items]
Total Spread		1.75%
SOFR | Greater than or equal to 3.00:1.00
Line of Credit Facility [Line Items]
Total Spread		2%
Base Rate | Less than 1.00:1.00
Line of Credit Facility [Line Items]
Total Spread		0.50%
Base Rate | Greater than or equal to 1.00:1.00 and less than 2.00:1.00
Line of Credit Facility [Line Items]
Total Spread		0.625%
Base Rate | Greater than or equal to 2.00:1.00 and less than 3.00:1.00
Line of Credit Facility [Line Items]
Total Spread		0.75%
Base Rate | Greater than or equal to 3.00:1.00
Line of Credit Facility [Line Items]
Total Spread		1%

Fair-Value Measurements (Schedu

Fair-Value Measurements (Schedule of Fair Value of Financial Assets and Liabilities) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Derivative Asset [Abstract]
Equity securities, cost basis	$ 500	$ 500
Fair Value, Recurring | (Level 1)
Assets:
Cash equivalents	12,212	6,533
Common stock of unaffiliated foreign public company	565	602
Interest rate swaps	0	0
Fair Value, Recurring | (Level 2)
Assets:
Cash equivalents	0	0
Common stock of unaffiliated foreign public company	0	0
Interest rate swaps	$ 20,303	$ 23,605

Fair-Value Measurements (Narrat

Fair-Value Measurements (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Derivative [Line Items]
Interest (income) expense	$ 3,106	$ 3,933	$ 6,396	$ 7,542
Interest Rate Swap
Derivative [Line Items]
Interest (income) expense			$ (6,900)	$ 2,900

Fair-Value Measurements (Sche_2

Fair-Value Measurements (Schedule of (Losses)/Gains on Changes in Fair Value of Derivative Instruments) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Foreign Exchange Option | Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Foreign currency options (gains)/losses	$ (138)	$ 596	$ (123)	$ (381)

Commitments and Contingencies_2

Commitments and Contingencies (Narrative) (Details) $ in Thousands	6 Months Ended	12 Months Ended	138 Months Ended	222 Months Ended	258 Months Ended
	Jun. 30, 2023 USD ($) claim	Dec. 31, 2022 claim	Jun. 30, 2023 USD ($) claim	Jun. 30, 2023 USD ($) claim	Jun. 30, 2023 USD ($) claim	Dec. 31, 2021 claim
Loss Contingencies [Line Items]
Number of pending claims	3,601		3,601	3,601	3,601
Subsidiaries | Brandon Drying Fabrics, Inc.
Loss Contingencies [Line Items]
Number of pending claims	7,702		7,702	7,702	7,702
Resolution costs paid by insurance carrier				100%
New claims			12
Loss contingency, damages paid, value | $					$ 15,000
Asbestos Issue
Loss Contingencies [Line Items]
Number of pending claims	3,601	3,598	3,601	3,601	3,601	3,609
Total resolved claims, by means of settlement or dismissal	38,032		38,032	38,032	38,032
Total cost of resolution | $	$ 10,600		$ 10,600	$ 10,600	$ 10,600
Resolution costs paid by insurance carrier	100%
Confirmed insurance coverage | $	$ 140,000		$ 140,000	$ 140,000	$ 140,000
New claims	7	32

Commitments and Contingencies_3

Commitments and Contingencies (Schedule of Changes in Claims) (Details) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2023 USD ($) claim	Dec. 31, 2022 USD ($) claim
Loss Contingency Accrual [Roll Forward]
Closing Number of Claims	3,601
Asbestos Issue
Loss Contingency Accrual [Roll Forward]
Opening Number of Claims	3,598	3,609
Claims Dismissed, Settled, or Resolved	4	43
New Claims	7	32
Closing Number of Claims	3,601	3,598
Amounts Paid to Settle or Resolve | $	$ 4	$ 125

Changes in Shareholders' Equi_3

Changes in Shareholders' Equity (Schedule of Activity in Shareholders' Equity) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022	Oct. 31, 2021
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at beginning of the period	$ 897,515	$ 867,543	$ 864,252	$ 877,605	$ 867,543	$ 877,605
Net income	26,826	27,086	39,369	28,075	53,912	67,444
Compensation and benefits paid or payable in shares	811	378	902	745
Options exercised				7
Purchase of Treasury shares			(41,128)	(43,937)
Shares issued to Directors'	1,086		1,085
Cumulative translation adjustments	(2,389)	14,119	(39,752)	(1,674)
Pension and postretirement liability adjustments	(724)	(916)	234	74
Derivative valuation adjustment	389	(2,902)	3,349	10,018
Balance at end of the period	$ 915,719	$ 897,515	$ 821,782	864,252	$ 915,719	$ 821,782
Dividends declared per Class A share (in dollars per share)	$ 0.25		$ 0.21		$ 0.50	$ 0.42
Stock repurchase program, authorized amount							$ 200,000
Common Class A
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Treasury stock, balance at the beginning of the period (in shares)		9,674,542			9,674,542
Dividends declared	$ (7,795)	$ (7,792)	$ (6,529)	$ (6,661)
Treasury stock, balance at the end of the period (in shares)	9,662,562				9,662,562
Dividends declared per Class A share (in dollars per share)		$ 0.25	$ 0.21	$ 0.21
Common Stock | Common Class A
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock, balance at the beginning of the period (in shares)	40,842,000	40,785,000	40,781,000	40,760,000	40,785,000	40,760,000
Balance at beginning of the period	$ 41	$ 41	$ 41	$ 41	$ 41	$ 41
Compensation and benefits paid or payable in shares (in shares)		58,000	4,000	21,000
Common stock, balance at the end of the period (in shares)	40,842,000	40,842,000	40,785,000	40,781,000	40,842,000	40,785,000
Balance at end of the period	$ 41	$ 41	$ 41	$ 41	$ 41	$ 41
Additional paid-in capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at beginning of the period	441,917	441,540	437,748	436,996	441,540	436,996
Compensation and benefits paid or payable in shares	811	378	902	745
Options exercised				7
Shares issued to Directors'	828		800
Balance at end of the period	443,556	441,917	439,450	437,748	443,556	439,450
Retained  earnings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at beginning of the period	950,415	931,318	884,133	863,057	931,318	863,057
Net income	26,672	26,889	39,201	27,737
Balance at end of the period	969,292	950,415	916,805	884,133	969,292	916,805
Retained  earnings | Common Class A
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends declared	(7,795)	(7,792)	(6,529)	(6,661)
Accumulated items of other comprehensive income
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at beginning of the period	(134,864)	(144,927)	(137,622)	(145,984)	(144,927)	(145,984)
Cumulative translation adjustments	(2,568)	13,881	(39,661)	(1,730)
Pension and postretirement liability adjustments	(724)	(916)	234	74
Derivative valuation adjustment	389	(2,902)	3,349	10,018
Balance at end of the period	(137,767)	(134,864)	(173,700)	(137,622)	(137,767)	(173,700)
Treasury Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at beginning of the period	$ (364,923)	$ (364,923)	$ (324,080)	$ (280,143)	$ (364,923)	$ (280,143)
Treasury stock, balance at the beginning of the period (in shares)	9,675,000	9,675,000	9,180,000	8,665,000	9,675,000	8,665,000
Purchase of Treasury shares (in shares)			508,000	515,000	0	1,022,717
Purchase of Treasury shares			$ (41,128)	$ (43,937)		$ (85,100)
Shares issued to Directors' (in shares)	(12,000)		(13,000)
Shares issued to Directors'	$ 258		$ 285
Balance at end of the period	$ (364,665)	$ (364,923)	$ (364,923)	$ (324,080)	$ (364,665)	$ (364,923)
Treasury stock, balance at the end of the period (in shares)	9,663,000	9,675,000	9,675,000	9,180,000	9,663,000	9,675,000
Noncontrolling Interest
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at beginning of the period	$ 4,929	$ 4,494	$ 4,032	$ 3,638	$ 4,494	$ 3,638
Net income	154	197	168	338
Cumulative translation adjustments	179	238	(91)	56
Balance at end of the period	$ 5,262	$ 4,929	$ 4,109	$ 4,032	$ 5,262	$ 4,109