Albany International (AIN) 10-Q30 Oct 242024 Q3 Quarterly reportFinancial data

Company Profile

Cover page

Cover page - shares shares in Millions	9 Months Ended
Cover page - shares shares in Millions	Sep. 30, 2024	Oct. 15, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
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		31.3
Entity Central Index Key	0000819793
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Amendment Flag	false

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Statement [Abstract]
Net revenues	$ 298,386	$ 281,106	$ 943,710	$ 824,325
Cost of goods sold	208,002	179,271	632,257	520,468
Gross profit	90,384	101,835	311,453	303,857
Selling, general, and administrative expenses	52,097	51,975	162,447	147,214
Technical and research expenses	10,844	9,708	35,369	30,303
Restructuring expenses, net	2,272	82	6,584	227
Operating income	25,171	40,070	107,053	126,113
Interest expense/(income), net	2,411	3,653	8,680	10,049
Other (income)/expense, net	3,257	56	5,932	(4,910)
Income before income taxes	19,503	36,361	92,441	120,974
Income tax expense	1,282	9,207	22,131	39,908
Net income	18,221	27,154	70,310	81,066
Net income attributable to the noncontrolling interest	192	45	366	396
Net income attributable to the Company	$ 18,029	$ 27,109	$ 69,944	$ 80,670
Earnings per share attributable to Company shareholders - Basic (in dollars per share)	$ 0.58	$ 0.87	$ 2.24	$ 2.59
Earnings per share attributable to Company shareholders - Diluted (in dollars per share)	$ 0.57	$ 0.87	$ 2.23	$ 2.58
Shares of the Company used in computing earnings per share:
Basic (in shares)	31,251	31,185	31,234	31,163
Diluted (in shares)	31,367	31,283	31,333	31,256
Dividends declared per Class A share (in dollars per share)	$ 0.26	$ 0.25	$ 0.78	$ 0.75

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME/(LOSS) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 18,221	$ 27,154	$ 70,310	$ 81,066
Other comprehensive income/(loss), before tax:
Foreign currency translation	16,211	(15,131)	(12,757)	(4,509)
Amortization of pension liability adjustments:
Prior service credit	(37)	(1,031)	(113)	(3,092)
Net actuarial loss	176	349	530	1,042
Payments and amortization related to interest rate swaps included in earnings	(2,675)	(3,990)	(10,893)	(10,891)
Derivative valuation adjustment	(1,238)	996	395	4,533
Income taxes related to items of other comprehensive income/(loss):
Amortization of prior service credit	13	315	35	946
Amortization of net actuarial loss	(55)	(107)	(162)	(319)
Payments and amortization related to interest rate swaps included in earnings	658	1,009	2,681	2,755
Derivative valuation adjustment	305	(252)	(97)	(1,147)
Comprehensive income	31,579	9,312	49,929	70,384
Comprehensive income attributable to the noncontrolling interest	(127)	(99)	(273)	669
Comprehensive income attributable to the Company	$ 31,706	$ 9,411	$ 50,202	$ 69,715

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Assets
Cash and cash equivalents	$ 127,222	$ 173,420
Accounts receivable, net	271,975	287,781
Contract assets, net	195,782	182,281
Inventories	160,617	169,567
Income taxes prepaid and receivable	8,316	11,043
Prepaid expenses and other current assets	40,399	53,872
Total current assets	804,311	877,964
Property, plant and equipment, net	583,455	601,989
Intangibles, net	40,996	44,646
Goodwill	180,912	180,181
Deferred income taxes	26,979	22,941
Noncurrent receivables, net	0	4,392
Other assets	116,548	102,901
Total assets	1,753,201	1,835,014
Liabilities and Shareholders' Equity
Accounts payable	77,873	87,104
Accrued liabilities	138,700	142,988
Current maturities of long-term debt	555	4,218
Income taxes payable	1,593	14,369
Total current liabilities	218,721	248,679
Long-term debt	361,639	452,667
Other noncurrent liabilities	154,634	139,385
Deferred taxes and other liabilities	21,531	26,963
Total liabilities	756,525	867,694
Commitments and Contingencies (Note 16)
Shareholders' Equity:
Preferred stock, par value $5.00 per share; authorized 2,000,000 shares; none issued	0	0
Additional paid in capital	452,656	448,218
Retained earnings	1,056,514	1,010,942
Accumulated items of other comprehensive income:
Translation adjustments	(137,373)	(124,901)
Pension and postretirement liability adjustments	(17,341)	(17,346)
Derivative valuation adjustment	1,165	9,079
Treasury stock (Class A), at cost; 9,661,845 shares in 2024 and 2023	(364,665)	(364,665)
Total shareholders' equity	990,997	961,368
Noncontrolling interest	5,679	5,952
Total equity	996,676	967,320
Total liabilities and shareholders' equity	1,753,201	1,835,014
Common Class A
Shareholders' Equity:
Class A Common Stock, par value $0.001 per share; authorized 100,000,000 shares; 40,916,568 issued in 2024 and 40,856,910 in 2023	$ 41	$ 41

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2024	Dec. 31, 2023
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)	40,916,568	40,856,910
Treasury stock, shares (in shares)	9,661,845	9,661,845

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities:
Net income	$ 70,310	$ 81,066
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	61,813	50,164
Amortization	5,190	4,614
Change in deferred taxes and other liabilities	(7,552)	(1,264)
Impairment of property, plant and equipment	1,425	577
Non-cash interest expense	769	1,148
Compensation and benefits paid or payable in Class A Common Stock	4,438	5,189
Provision/(recovery) for credit losses from uncollected receivables and contract assets	40	641
Foreign currency remeasurement loss/(gain) on intercompany loans	2,263	(4,704)
Fair value adjustment on foreign currency contracts	1,105	581
Gain on sale of assets	(515)	0
Changes in operating assets and liabilities that provided/(used) cash, net of impact of business acquisition:
Accounts receivable	17,980	(18,172)
Contract assets	(15,194)	(16,550)
Inventories	5,918	(293)
Prepaid expenses and other current assets	2,768	(3,030)
Income taxes prepaid and receivable	2,602	1,597
Accounts payable	7,316	(6,661)
Accrued liabilities	(8,320)	(16,454)
Income taxes payable	(11,995)	(5,810)
Noncurrent receivables	(579)	2,276
Other noncurrent liabilities	(17)	(3,602)
Other, net	220	2,499
Net cash provided by operating activities	139,985	73,812
Cash flows from investing activities:
Purchase of business, net of cash acquired	0	(133,470)
Purchases of property, plant and equipment	(61,985)	(48,850)
Purchased software	(101)	(276)
Proceeds received from sale of assets	1,033	0
Net cash used in investing activities	(61,053)	(182,596)
Cash flows from financing activities:
Proceeds from borrowings	48,106	71,249
Principal payments on debt	(142,691)	(51,479)
Debt acquisition costs	0	(4,108)
Taxes paid in lieu of share issuance	(2,832)	(3,136)
Dividends paid	(24,356)	(23,365)
Net cash (used in)/provided by financing activities	(121,773)	(10,839)
Effect of exchange rate changes on cash and cash equivalents	(3,357)	(647)
(Decrease)/increase in cash and cash equivalents	(46,198)	(120,270)
Cash and cash equivalents at beginning of period	173,420	291,776
Cash and cash equivalents at end of period	$ 127,222	$ 171,506

Significant Accounting Policies

Significant Accounting Policies	9 Months Ended
Significant Accounting Policies	Sep. 30, 2024
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies Basis of Presentation In the opinion of management, the accompanying consolidated financial information reflects all adjustments necessary for a fair presentation of Albany International Corp.'s ("Albany", the "Registrant", the "Company", "we", "us", or "our") financial position, results of operations and cash flows for the interim periods presented, but does not include all disclosures required by the accounting principles generally accepted in the United States ("GAAP"). All such adjustments are of a normal recurring nature, unless otherwise disclosed in this report. Certain amounts in prior year financial statements and notes thereto have been reclassified to conform to current year presentation. The information included in this Quarterly Report on Form 10-Q should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2023. Estimates The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Estimates are used in the accounting for, among others, revenue recognition, contract profitability, allowances for doubtful accounts, rebates and sales allowances, inventory allowances, financial instruments, including derivatives, pension and other postretirement benefits, goodwill and intangible assets, contingencies, income taxes, and other accruals. Our estimates are based on historical experience and on various other assumptions, which are believed to be reasonable under the circumstances. Due to the inherent uncertainty involved in making estimates, actual results reported in future periods may differ from those estimates. Estimates and assumptions are reviewed periodically, and the effects of any revisions are reflected in the consolidated financial statements in the period they are determined to be necessary. Recent Accounting Pronouncements In November 2023, the FASB issued Accounting Standards Update No. 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures” (“ASU 2023-07”), which is intended to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The guidance is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The guidance is to be applied retrospectively to all prior periods presented in the financial statements. Upon transition, the segment expense categories and amounts disclosed in the prior periods should be based on the significant segment expense categories identified and disclosed in the period of adoption. We are currently evaluating the potential impact of adopting this new guidance on our consolidated financial statements and related disclosures. In December 2023, the FASB issued Accounting Standards Update No. 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures” (“ASU 2023-09”), which modifies the rules on income tax disclosures to require entities to disclose (1) specific categories in the rate reconciliation, (2) the income or loss from continuing operations before income tax expense or benefit (separated between domestic and foreign) and (3) income tax expense or benefit from continuing operations (separated by federal, state and foreign). ASU 2023-09 also requires entities to disclose their income tax payments to international, federal, state and local jurisdictions, among other changes. The guidance is effective for annual periods beginning after December 15, 2024. Early adoption is permitted for annual financial statements that have not yet been issued or made available for issuance. ASU 2023-09 should be applied on a prospective basis, but retrospective application is permitted. We are currently evaluating the potential impact of adopting this new guidance on our consolidated financial statements and related disclosures. In March 2024, the FASB issued Accounting Standards Update No. 2024-01, "Compensation - Stock Compensation (Topic 718): Scope Application of Profits Interest and Similar Awards" (ASU 2024-01), which clarifies how an entity determines whether profits interest or similar awards should be considered within the scope of ASC 718 as a share-based payment arrangement or under ASC 710 or other ASC topics in a manner similar to a cash bonus or profit-sharing arrangement. The guidance is effective for annual periods beginning after December 15, 2024, and interim periods beginning within those annual periods. Early adoption is permitted for both interim and annual financial statements that have not yet been issued or made available for issuance. ASU 2024-01 should be applied either (1) retrospectively to all prior periods presented in the financial statements or (2) prospectively to profits interest and similar awards granted or modified on or after the date at which the entity first applies the amendments. We are currently evaluating the potential impact of adopting this new guidance on our consolidated financial statements and related disclosures. In March 2024, the U.S. Securities and Exchange Commission ("SEC") adopted the final rule under SEC Release No. 33-11275, The Enhancement and Standardization of Climate-Related Disclosures for Investors. This rule would require registrants to disclose certain climate-related information in registration statements and annual reports. In April 2024, the SEC voluntarily stayed the final rule as a result of legal challenges that are pending judicial review. The disclosure requirements would apply to the Company's fiscal year beginning January 1, 2025, pending resolution of the stay. The Company is currently evaluating the final rule to determine its impact on the Company's disclosures.

Reportable Segments and Revenue

Reportable Segments and Revenue Recognition	9 Months Ended
Reportable Segments and Revenue Recognition	Sep. 30, 2024
Segment Reporting [Abstract]
Reportable Segments and Revenue Recognition	Reportable Segments and Revenue Recognition The Company is organized based on the nature of its products and is composed of two reportable segments, Machine Clothing ("MC") and Albany Engineered Composites ("AEC"), each overseen by a Segment President. These segments are reflective of how the Company's Chief Executive Officer, who is its Chief Operating Decision Maker ("CODM"), reviews operating results for the purpose of allocating resources and assessing performance. The Company has not aggregated operating segments for purposes of identifying reportable segments. Machine Clothing: The Machine Clothing segment supplies permeable and impermeable belts used in the manufacture of paper, paperboard, tissue and towel products, nonwovens, fiber cement and for several other industrial applications. Paper machine clothing products are customized, consumable products of technologically sophisticated design that utilize polymeric materials in a complex structure. We manufacture belts for each section of the paper machine and for every grade of paper. We sell our MC products directly to customer end-users in countries across the globe. MC's products, manufacturing processes, and distribution channels are substantially the same in each region of the world in which we operate. On August 31, 2023, the Company completed the acquisition of Heimbach GmbH (“Heimbach”), a privately-held manufacturer of paper machine clothing and technical textiles. The financial results of the acquired company are included in the Machine Clothing reportable segment. Albany Engineered Composites: The Albany Engineered Composites 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 to 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 2023. AEC net sales to SAFRAN were $142.2 million and $140.8 million in the first nine months of 2024 and 2023, respectively. The total of Accounts receivable, Contract assets and Noncurrent receivables due from SAFRAN amounted to $89.9 million and $93.8 million as of September 30, 2024 and December 31, 2023, respectively. Other significant programs for AEC include the Sikorsky CH-53K, F-35, JASSM, and Boeing 787 programs. AEC also supplies vacuum waste tanks for the Boeing commercial programs, and specialty components for the Rolls Royce lift fan on the F-35, as well as the fan case for the GE9X engine. For the year ended December 31, 2023, approximately 39 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 September 30, Nine months ended September 30, (in thousands) 2024 2023 2024 2023 Net revenues Machine Clothing $ 183,033 $ 166,588 $ 561,828 $ 479,027 Albany Engineered Composites 115,353 114,518 381,882 345,298 Consolidated revenues $ 298,386 $ 281,106 $ 943,710 $ 824,325 Operating income/(loss) Machine Clothing $ 51,481 $ 50,710 $ 153,276 $ 153,400 Albany Engineered Composites (10,293) 9,374 8,329 27,460 Corporate expenses (16,017) (20,014) (54,552) (54,747) Consolidated Operating income $ 25,171 $ 40,070 $ 107,053 $ 126,113 Reconciling items: Interest income (1,019) (1,826) (3,101) (4,770) Interest expense 3,430 5,479 11,781 14,819 Other (income)/expense, net 3,257 56 5,932 (4,910) Income before income taxes $ 19,503 $ 36,361 $ 92,441 $ 120,974 Results for 2024 include Heimbach, which was acquired August 31, 2023. Heimbach contributed $27.8 million and $105.5 million of net revenues and $(4.3) million and $(6.7) million of operating loss for the three and nine months ended September 30, 2024, respectively. Heimbach contributed $15.6 million of Net revenues and an operating loss of $(0.5) million for the three and nine months ended September 30, 2023, respectively. Corporate expenses include global information system costs of $7.8 million and $6.3 million for the three months ended September 30, 2024 and 2023, respectively, and $24.2 million and $19.3 million for the nine months ended September 30, 2024 and 2023, respectively. 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. The cumulative changes in the estimated profitability of long-term contracts decreased operating income by $22.4 million for the third quarter of 2024 and decreased operating income by $28.3 million for the first nine months of 2024. The negative change in the estimated profitability in the third quarter of 2024 was driven by a few large complex programs, including approximately $13.3 million for various CH-53K programs, approximately $6.5 million on our Gulfstream program, approximately $2.2 million on our F-35 program, and $0.4 million, net, on all other programs. Adjustments in the estimated profitability of long-term contracts increased operating incomes by $0.9 million and decreased operating income by $4.1 million for the third quarter and first nine months of 2023, 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 September 30, 2024: Three months ended September 30, 2024 (in thousands) Point in Time Revenue Recognition Over Time Revenue Recognition Total Machine Clothing $ 182,050 $ 983 $ 183,033 Albany Engineered Composites: ASC — 40,115 40,115 Other AEC 4,142 71,096 75,238 Total Albany Engineered Composites 4,142 111,211 115,353 Total revenues $ 186,192 $ 112,194 $ 298,386 The following table disaggregates revenue for each product group by timing of revenue recognition for the three months ended September 30, 2023: Three months ended September 30, 2023 (in thousands) Point in Time Revenue Recognition Over Time Revenue Recognition Total Machine Clothing $ 165,643 $ 945 $ 166,588 Albany Engineered Composites: ASC — 46,654 46,654 Other AEC 4,955 62,909 67,864 Total Albany Engineered Composites 4,955 109,563 114,518 Total revenues $ 170,598 $ 110,508 $ 281,106 The following table disaggregates revenue for each product group by timing of revenue recognition for the nine months ended September 30, 2024: Nine months ended September 30, 2024 (in thousands) Point in Time Revenue Over Time Revenue Total Machine Clothing $ 558,881 $ 2,947 $ 561,828 Albany Engineered Composites: ASC — 140,146 140,146 Other AEC 15,908 225,828 241,736 Total Albany Engineered Composites 15,908 365,974 381,882 Total revenues $ 574,789 $ 368,921 $ 943,710 The following table disaggregates revenue for each product group by timing of revenue recognition for the nine months ended September 30, 2023: Nine months ended September 30, 2023 (in thousands) Point in Time Revenue Over Time Revenue Total Machine Clothing $ 476,194 $ 2,833 $ 479,027 Albany Engineered Composites: ASC — 138,603 138,603 Other AEC 14,259 192,436 206,695 Total Albany Engineered Composites 14,259 331,039 345,298 Total revenues $ 490,453 $ 333,872 $ 824,325 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 September 30, Nine months ended September 30, (in thousands) 2024 2023 2024 2023 Americas PMC $ 86,408 $ 84,405 $ 258,442 $ 261,937 Eurasia PMC 70,083 64,493 224,792 164,771 Engineered Fabrics 26,542 17,690 78,594 52,319 Total Machine Clothing Net revenues $ 183,033 $ 166,588 $ 561,828 $ 479,027 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 $1.1 billion and $759 million as of September 30, 2024 and 2023, respectively, and related primarily to firm fixed price contracts in the AEC segment. Of the remaining performance obligations as of September 30, 2024, we expect to recognize as revenue approximately $40 million during 2024, $167 million during 2025, $147 million during 2026, and the remainder thereafter.

Pensions and Other Postretireme

Pensions and Other Postretirement Benefit Plans	9 Months Ended
Pensions and Other Postretirement Benefit Plans	Sep. 30, 2024
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 nine months ended September 30, 2024 and 2023, was as follows: Pension plans Other postretirement benefits (in thousands) 2024 2023 2024 2023 Components of net periodic benefit cost/(income): Service cost $ 1,473 $ 986 $ 35 $ 45 Interest cost 4,545 3,447 1,063 1,405 Expected return on assets (4,030) (3,063) — — Amortization of prior service cost/(income) (20) (24) (93) (3,068) Amortization of net actuarial loss 556 421 (26) 621 Net periodic benefit cost/(credit) $ 2,524 $ 1,767 $ 979 $ (997) The amount of net benefit cost/(credit) 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 material curtailments or settlements during the first nine months of 2024 or 2023. 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.

Restructuring

Restructuring	9 Months Ended
Restructuring	Sep. 30, 2024
Restructuring and Related Activities [Abstract]
Restructuring	Restructuring At MC, restructuring actions were taken in the second and third quarters of 2024 to cease operations at the Company's MC forming fabric manufacturing facility in Chungju, South Korea, and at the Company's Heimbach engineered fabric manufacturing facility in Rochdale, UK. The principal driver of $3.3 million in Restructuring expenses, net for the first nine months of 2024 related to workforce reductions, fixed asset impairments and related costs, as well as charges of $1.3 million in Costs of goods sold for the write-off of inventory. We expect to incur additional restructuring expenses related to these actions throughout the remainder of the year. Restructuring expenses incurred at MC during 2023 were not significant. At AEC, restructuring activities were related to reductions in the workforce at various AEC locations, which resulted in restructuring expenses of $3.1 million for the first nine months of 2024. Restructuring expenses incurred at AEC during 2023 were not significant. The following table summarizes charges reported in the Consolidated Statements of Income under "Restructuring expenses, net": Three months ended September 30, Nine months ended September 30, (in thousands) 2024 2023 2024 2023 Machine Clothing $ 2,207 $ 82 $ 3,294 $ 227 Albany Engineered Composites 34 — 3,144 — Corporate expenses 31 — 146 — Total $ 2,272 $ 82 $ 6,584 $ 227 The following tables summarizes charges by type of expense reported in the Consolidated Statements of Income under "Restructuring expenses, net" and "Cost of goods sold": Nine months ended September 30, 2024 Total Termination Impairment of assets (in thousands) Machine Clothing $ 4,581 $ 3,294 $ 1,287 Albany Engineered Composites 3,144 3,144 — Corporate expenses 146 146 — Total $ 7,871 $ 6,584 $ 1,287 Nine months ended September 30, 2023 Total Termination Impairment of assets (in thousands) Machine Clothing $ 227 $ 227 $ — Albany Engineered Composites — — — Corporate expenses — — — Total $ 227 $ 227 $ — The table below presents the year-to-date changes in restructuring liabilities for 2024 and 2023: (in thousands) December 31, 2023 Restructuring Payments Currency September 30, 2024 Total termination and other costs $ — $ 6,584 $ (4,064) $ 90 $ 2,610 (in thousands) December 31, 2022 Restructuring Payments Currency September 30, 2023 Total termination and other costs $ — $ 227 $ (227) $ — $ —

Other (Income)_Expense, net

Other (Income)/Expense, net	9 Months Ended
Other (Income)/Expense, net	Sep. 30, 2024
Other Income and Expenses [Abstract]
Other (Income)/Expense, net	Other (Income)/Expense, net The components of Other (income)/expense, net are: Three months ended September 30, Nine months ended September 30, (in thousands) 2024 2023 2024 2023 Currency transaction (gains)/losses $ 1,834 $ 511 $ 692 $ (3,622) Derivative instruments losses/(gains) (485) 704 3,788 581 Bank fees and amortization of debt issuance costs 48 49 169 140 Components of net periodic pension and postretirement cost other than service cost 663 (15) 1,995 (260) Other 1,197 (1,193) (712) (1,749) Total other (income)/expense, net $ 3,257 $ 56 $ 5,932 $ (4,910)

Income Taxes

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company's effective income tax rate for the three and nine months ended September 30, 2024 and 2023, is as follows: Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 Effective income tax rate 6.6 % 25.3 % 23.9 % 33.0 % 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. Our 2024 estimated annual effective tax rate primarily reflects the 21% federal tax rate, the impact of state and local taxation, the impact of taxation upon foreign operations, and forecasted permanent differences. Our actual effective tax rates were 6.6% and 25.3% for the three months ended September 30, 2024 and 2023, respectively. Our actual effective tax rates were 23.9% and 33.0% for the nine months ended September 30, 2024 and 2023, respectively. The effective tax rate for the three months ended September 30, 2024 included a net discrete tax benefit of $8.5 million. This discrete tax benefit is mostly attributable to the true-up of prior year estimated taxes and the release of a valuation allowance in a non-U.S. jurisdiction due to positive evidence indicating that a full valuation allowance was no longer required. The rate for the third quarter of 2024 was lower than the third quarter of 2023 mainly due to favorable discrete tax adjustments in the current period compared to unfavorable discrete tax adjustments in the prior period, partially offset by an unfavorable change in the jurisdictional mix of earnings compared to the prior period. The effective tax rate for the nine months ended September 30, 2024 included a net discrete tax benefit of $11.0 million. This discrete tax benefit is mostly attributable to the true-up for prior year estimated taxes, a net decrease in valuation allowances and a net decrease in uncertain tax positions. The rate for the nine months ended September 30, 2024 was lower than the nine months ended September 30, 2023 mainly due to favorable discrete tax adjustments in the current period compared to unfavorable discrete tax adjustments in the prior period, partially offset by an unfavorable change in the jurisdictional mix of earnings compared to the prior period.

Earnings Per Share

Earnings Per Share	9 Months Ended
Earnings Per Share	Sep. 30, 2024
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 September 30, Nine months ended September 30, (in thousands, except earnings per share) 2024 2023 2024 2023 Net income attributable to the Company $ 18,029 $ 27,109 $ 69,944 $ 80,670 Weighted average number of shares: Weighted average number of shares used in calculating basic net income per share 31,251 31,185 31,234 31,163 Effect of dilutive stock-based compensation plans: Restricted stock units and multi-year awards 116 98 99 93 Weighted average number of shares used in calculating diluted net income per share 31,367 31,283 31,333 31,256 Net income attributable to the Company per share: Basic $ 0.58 $ 0.87 $ 2.24 $ 2.59 Diluted $ 0.57 $ 0.87 $ 2.23 $ 2.58 ..

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income ("AOCI")	9 Months Ended
Accumulated Other Comprehensive Income ("AOCI")	Sep. 30, 2024
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, 2023 to September 30, 2024: (in thousands) Translation adjustments Pension and postretirement liability adjustments Derivative valuation adjustment Total Other Comprehensive Income December 31, 2023 $ (124,901) $ (17,346) $ 9,079 $ (133,168) Other comprehensive income/(loss) before reclassifications, net of tax (12,472) (285) 298 (12,459) Interest (expense)/income related to swaps reclassified to the Consolidated Statements of Income, net of tax — — (8,212) (8,212) Pension and postretirement liability adjustments reclassified to Consolidated Statements of Income, net of tax — 290 — 290 Net current period other comprehensive income (12,472) 5 (7,914) (20,381) September 30, 2024 $ (137,373) $ (17,341) $ 1,165 $ (153,549) The table below presents changes in the components of AOCI for the period from December 31, 2022 to September 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 (4,326) (183) 3,386 (1,123) Interest (expense)/income related to swaps reclassified to the Consolidated Statements of Income, net of tax — — (8,136) (8,136) Pension and postretirement liability adjustments reclassified to Consolidated Statements of Income, net of tax — (1,423) — (1,423) Net current period other comprehensive income (4,326) (1,606) (4,750) (10,682) September 30, 2023 $ (151,177) $ (17,389) $ 12,957 $ (155,609) 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 nine ended September 30, 2024 and 2023: Three months ended September 30, Nine months ended September 30, (in thousands) 2024 2023 2024 2023 Pre-tax Derivative valuation reclassified from Accumulated Other Comprehensive Income: Interest expense/(income), net related to interest rate swaps included in Income before taxes $ (2,675) $ (3,990) $ (10,893) $ (10,891) Income tax effect 658 1,009 2,681 2,755 Effect on net income due to items reclassified from Accumulated Other Comprehensive Income $ (2,017) $ (2,981) $ (8,212) $ (8,136) Pre-tax pension and postretirement liabilities reclassified from Accumulated Other Comprehensive Income: Amortization of prior service credit $ (37) $ (1,031) $ (113) $ (3,092) Amortization of net actuarial loss 176 349 530 1,042 Total pre-tax amount reclassified (a) 139 (682) 417 (2,050) Income tax effect (42) 208 (127) 627 Effect on net income due to items reclassified from Accumulated Other Comprehensive Income $ 97 $ (474) $ 290 $ (1,423) (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 Interests

Noncontrolling Interests	9 Months Ended
Noncontrolling Interests	Sep. 30, 2024
Noncontrolling Interest [Abstract]
Noncontrolling Interest	Noncontrolling Interests Effective October 31, 2013, Safran S.A. (Safran) acquired a 10 percent equity interest in Albany Safran Composites, LLC ("ASC"). On August 31, 2023, the Company acquired all the outstanding shares of Heimbach, a privately held manufacturer of paper machine clothing with headquarters in Düren, Germany. In July 2021, Heimbach acquired 85% of Arcari, SRL (“Arcari”). Arcari is a manufacturer of textile and plastic industrial technical products and conveyor belts. For the nine months ended September 30, 2024, the net income/(loss) attributable to Arcari’s noncontrolling interest was less than $0.1 million and the noncontrolling interest balance at September 30, 2024 was $0.4 million. The table below presents a reconciliation of income attributable to the noncontrolling interest and noncontrolling equity in the Company’s subsidiaries: ASC Noncontrolling Interest Nine months ended September 30, (in thousands, except percentages) 2024 2023 Net income of Albany Safran Composites (ASC) $ 3,754 $ 4,929 Less: Return attributable to the Company's preferred holding 850 974 Net income of ASC available for common ownership $ 2,904 $ 3,955 Ownership percentage of noncontrolling shareholder 10 % 10 % Net income attributable to the noncontrolling interest $ 290 $ 396 Noncontrolling interest, beginning of year $ 5,423 $ 4,494 Net income attributable to noncontrolling interest 290 396 Changes in other comprehensive income attributable to the noncontrolling interest (481) 317 ASC Noncontrolling interest, end of interim period $ 5,232 $ 5,207 Arcari Noncontrolling interest, end of interim period $ 447 $ 1,587 Total Noncontrolling interest, end of interim period $ 5,679 $ 6,794

Accounts Receivable

Accounts Receivable	9 Months Ended
Accounts Receivable	Sep. 30, 2024
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 September 30, 2024 and December 31, 2023, Accounts receivable consisted of the following: (in thousands) September 30, 2024 December 31, 2023 Trade and other accounts receivable $ 254,194 $ 272,351 Bank promissory notes 21,535 20,690 Allowance for expected credit losses (3,754) (5,260) Accounts receivable, net $ 271,975 $ 287,781 The Company had Noncurrent receivables in the AEC segment that represent revenue earned, which had extended payment terms. In 2023, the payment terms were amended and the Noncurrent receivables are now included in Trade and other accounts receivable. As of September 30, 2024 and December 31, 2023, Noncurrent receivables consisted of the following: (in thousands) September 30, 2024 December 31, 2023 Noncurrent receivables $ — $ 4,414 Allowance for expected credit losses — (22) Noncurrent receivables, net $ — $ 4,392

Contract Assets and Liabilities

Contract Assets and Liabilities	9 Months Ended
Contract Assets and Liabilities	Sep. 30, 2024
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 over time 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 September 30, 2024 and December 31, 2023, Contract assets and Contract liabilities consisted of the following: (in thousands) September 30, 2024 December 31, 2023 Contract assets $ 196,765 $ 183,189 Allowance for expected credit losses (983) (908) Contract assets, net $ 195,782 $ 182,281 Contract liabilities $ 7,122 $ 7,127 Contract assets, net increased $13.5 million during the nine months ended September 30, 2024. The increase was primarily due to an increase in unbilled revenue, primarily related to commercial and space programs. There were no impairment losses related to our Contract assets during the nine months ended September 30, 2024 and September 30, 2023. Contract liabilities are essentially flat for the period ended September 30, 2024 compared to December 31, 2023, primarily due to revenue recognized from satisfied performance obligations were essentially offset by customer advance payments for commercial and defense programs. Revenue recognized for the nine months ended September 30, 2024 and 2023 that was included in the Contract liability balance at the beginning of the year was $3.7 million and $14.4 million, respectively.

Inventories

Inventories	9 Months Ended
Inventories	Sep. 30, 2024
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 September 30, 2024 and December 31, 2023, Inventories consisted of the following: (in thousands) September 30, 2024 December 31, 2023 Raw materials $ 84,257 $ 79,611 Work in process 54,772 67,743 Finished goods 21,588 22,213 Total inventories $ 160,617 $ 169,567

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	9 Months Ended
Goodwill and Other Intangible Assets	Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets The following table sets forth the gross carrying value, accumulated amortization and net values of intangible assets and goodwill as of September 30, 2024 and December 31, 2023: September 30, 2024 (in thousands) Amortization Gross carrying amount Accumulated amortization Net carrying amount Finite-lived assets: AEC Trademarks and trade names 6-15 $ 208 $ (194) $ 14 AEC Technology 10-15 6,226 (3,201) 3,025 AEC Intellectual property 15 1,250 (402) 848 AEC Customer relationships 8-15 69,395 (46,500) 22,895 Heimbach Developed technology 9 9,166 (1,090) 8,076 Total Finite-lived intangible assets $ 86,245 $ (51,387) $ 34,858 Indefinite-lived intangible assets: Heimbach Trade name $ 6,138 $ — $ 6,138 MC Goodwill 67,407 — 67,407 AEC Goodwill 113,505 — 113,505 Total Indefinite-lived intangible assets: $ 187,050 $ — $ 187,050 December 31, 2023 (in thousands) Amortization Gross carrying amount Accumulated amortization Net carrying amount Finite-lived assets: AEC Trademarks and trade names 6-15 $ 208 $ (186) $ 22 AEC Technology 10-15 6,161 (2,735) 3,426 AEC Intellectual property 15 1,250 (339) 911 AEC Customer relationships 8-15 69,360 (43,875) 25,485 Heimbach Developed technology 9 9,042 (310) 8,732 Total Finite-lived assets $ 86,021 $ (47,445) $ 38,576 Indefinite-lived intangible assets: Heimbach Trade name $ 6,070 $ — $ 6,070 MC Goodwill 66,873 — 66,873 AEC Goodwill 113,308 — 113,308 Total Indefinite-lived intangible assets: $ 186,251 $ — $ 186,251 The changes in intangible assets, net and goodwill from December 31, 2023 to September 30, 2024, were as follows: (in thousands) December 31, 2023 Other Amortization Currency September 30, 2024 Finite-lived intangible assets: AEC Trademarks and trade names $ 22 $ — $ (8) $ — $ 14 AEC Technology 3,426 — (428) 27 3,025 AEC Intellectual property 911 — (63) — 848 AEC Customer relationships 25,485 — (2,611) 21 22,895 Heimbach Developed technology 8,732 — (767) 111 8,076 Total Finite-lived intangible assets $ 38,576 $ — $ (3,877) $ 159 $ 34,858 Indefinite-lived intangible assets: Heimbach Trade name $ 6,070 $ — $ — $ 68 $ 6,138 MC Goodwill 66,873 — — 534 67,407 AEC Goodwill 113,308 — — 197 113,505 Total Indefinite-lived assets: $ 186,251 $ — $ — $ 799 $ 187,050 In the second quarter of 2024, management performed the quantitative assessment approach in conducting its annual evaluation of goodwill and indefinite-lived trademark intangibles and concluded that no impairment provision was required. Our goodwill has been allocated to and is tested for impairment at a level referred to as the reporting unit, which management determined to be the business segment level. As part of the quantitative assessment, management used the income and market approach to determine fair value by considering projected cash flows and market multiples for the Machine Clothing reporting unit and the AEC reporting unit. Management performed the quantitative assessments and concluded that each reporting unit’s fair value continued to significantly exceed its carrying value. In addition, there were no amounts at risk due to the estimated spread between the fair and carrying values. Accordingly, no impairment charges were recorded. In the third quarter, the Company revised its estimates and assumptions used in certain program estimates at completion of its AEC reporting unit. As a result, on October 3, 2024, the Company reported a preliminary update to its full year outlook to reflect revised revenue and profitability expectations for the AEC segment. As a result of the change in estimates of certain program revenues and profits, we performed a qualitative assessment of the AEC reporting unit’s goodwill for impairment and concluded that goodwill was not impaired. The excess of the fair value of the AEC reporting unit over its carrying value reduced approximately 26% from previous quarters; and fair value continues to exceed the carrying value by more than 20%.

Financial Instruments

Financial Instruments	9 Months Ended
Financial Instruments	Sep. 30, 2024
Debt Disclosure [Abstract]
Financial Instruments	Financial Instruments Debt principally consists of a revolving credit agreement and foreign bank debt assumed in the 2023 acquisition of Heimbach. The following table represents the Company's outstanding debt: (in thousands, except interest rates) September 30, 2024 December 31, 2023 Borrowings under the Amended Credit Agreement (1) $ 360,000 $ 446,000 Foreign bank debt 2,194 10,885 Total bank debt 362,194 456,885 Less: Current maturities of long-term debt 555 4,218 Long-term debt $ 361,639 $ 452,667 (1) the credit facility matures in August 2028. At the end of September 30, 2024 and December 31, 2023, the interest rate in effect was 2.50% and 3.49%, respectively, including the effect of interest rate hedging transactions, as described below. Amended Credit Agreement On August 16, 2023, we entered into a $800 million unsecured committed Five-Year Revolving Credit Facility Agreement (the “Amended Credit Agreement”), which matures in August of 2028. The applicable interest rate for borrowings under the Amended Credit Agreement 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 Term Benchmark/ Daily <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 September 30, 2024, the applicable interest rate for borrowings under the Amended Credit Agreement was based on one-month term SOFR plus the spread, which was 1.50%. As of September 30, 2024, there was $360 million of borrowings outstanding under the Amended Credit Agreement and we had borrowings available of $440 million, based on our maximum leverage ratio and our Consolidated EBITDA (as defined in the Amended Credit Agreement). Under the Amended Credit Agreement, we are required to maintain a leverage ratio (as defined in the Credit Agreement) of not greater than 3.75 to 1.00, or 4.25 to 1.00 after a significant acquisition. We are also required to maintain a minimum interest coverage ratio (as defined in the Credit Agreement) of greater than 3.00 to 1.00. If our leverage ratio exceeds 3.50 to 1.00, we will be restricted in paying dividends to a maximum amount of $40 million in a calendar year. As of September 30, 2024, our leverage ratio was 0.99 to 1.00 and our interest coverage ratio was 15.39 to 1.00. As of September 30, 2024, we were in compliance with all applicable covenants. We anticipate continued compliance in each of the next four quarters while continuing to monitor future compliance based on current and future economic conditions. The borrowings are guaranteed by certain of the Company’s subsidiaries, including all significant U.S. subsidiaries (subject to certain exceptions), 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). Interest Rate Swaps From time to time, the Company enters into interest rate swap contracts to manage the interest rate risk associated with its outstanding variable-interest rate borrowings. Such contracts are intended to economically hedge the reference rate component of future interest payments associated with outstanding borrowings under the Company’s Amended Credit Agreement. In 2021, we entered into interest rate swap agreements for the period of October 17, 2022 through October 27, 2024, to hedge $350 million of variable-interest rate indebtedness. The interest rate swaps are accounted for as a hedge of future cash flows, as further described in Note 15, Fair-Value Measurements . No cash collateral was received or pledged in relation to the swap agreements. As of September 30, 2024, the all-in rate on the $350 million of debt was 2.38%. Upon the expiration of the interest rate swap on October 28, 2024, our interest cost will increase significantly. Beginning in October 2024, our interest cost will be calculated using a floating rate based on the one-month term SOFR.

Fair-Value Measurements

Fair-Value Measurements	9 Months Ended
Fair-Value Measurements	Sep. 30, 2024
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 September 30, 2024 or at December 31, 2023, other than certain pension assets as indicated in our December 31, 2023 Annual Report on Form 10-K. 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: September 30, 2024 December 31, 2023 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 $ 13,401 $ — $ 27,157 $ — Foreign currency option contracts — — — 1,725 Foreign currency forward contracts — — — 199 Other Assets: Common stock of unaffiliated foreign public company (a) 693 — 682 — Interest rate swaps — 1,722 — 12,214 Liabilities Foreign currency forward contracts — (1,105) — — (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 is 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. 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 $(10.9) million for the nine months ended September 30, 2024, and $(10.9) million for the nine months ended September 30, 2023. 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 Accrued liabilities, 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 a 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 September 30, Nine months ended September 30, (in thousands) 2024 2023 2024 2023 Derivatives not designated as hedging instruments: Foreign currency options (gains)/losses $ (485) $ 704 $ 3,788 $ 581

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 30, 2024
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 3,642 claims as of September 30, 2024. 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 For the period ended December 31, 2023 3,598 19 27 3,606 $ 74 For the period ended September 30, 2024 3,606 9 45 3,642 $ 13 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 September 30, 2024, we had resolved, by means of settlement or dismissal, 38,050 claims at a total cost of $10.7 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 7,676 claims as of September 30, 2024, 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	9 Months Ended
Changes in Shareholders' Equity	Sep. 30, 2024
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, 2023 to September 30, 2024: 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 Shares Amount Shares Amount December 31, 2023 40,856 $ 41 $ 448,218 $ 1,010,942 $ (133,168) 9,662 $ (364,665) $ 5,952 $ 967,320 Net income — — — 27,291 — — — 78 27,369 Compensation and benefits paid or payable in shares 42 — 810 — — — — — 810 Dividends declared on Class A Common Stock, $0.26 per share — — — (8,122) — — — — (8,122) Cumulative translation adjustments — — — — (12,116) — — 46 (12,070) Pension and postretirement liability adjustments — — — — 382 — — — 382 Derivative valuation adjustment — — — — (2,124) — — — (2,124) March 31, 2024 40,898 $ 41 $ 449,028 $ 1,030,111 $ (147,026) 9,662 $ (364,665) $ 6,076 $ 973,565 Net income — — — 24,624 — — — 96 24,720 Compensation and benefits paid or payable in shares — — 2,530 — — — — — 2,530 Shares issued to Directors' 10 — 903 — — — — — 903 Dividends declared on Class A Common Stock, $0.26 per share — — — (8,123) — — — — (8,123) Cumulative translation adjustments — — — — (17,287) — — (366) (17,653) Pension and postretirement liability adjustments — — — — 246 — — — 246 Derivative valuation adjustment — — — — (2,840) — — — (2,840) June 30, 2024 40,908 $ 41 $ 452,461 $ 1,046,612 $ (166,907) 9,662 $ (364,665) $ 5,806 $ 973,348 Net income — — — 18,029 — — — 192 18,221 Compensation and benefits paid or payable in shares 9 — 195 — — — — — 195 Dividends declared on Class A Common Stock, $0.26 per share — — — (8,127) — — — — (8,127) Dividends paid to noncontrolling interests — — — — — — — (166) (166) Cumulative translation adjustments — — — — 16,931 — — (153) 16,778 Pension and postretirement liability adjustments — — — — (623) — — — (623) Derivative valuation adjustment — — — — (2,950) — — — (2,950) September 30, 2024 40,917 $ 41 $ 452,656 $ 1,056,514 $ (153,549) 9,662 $ (364,665) $ 5,679 $ 996,676 The following table summarizes changes in Shareholders’ Equity for the period December 31, 2022 to September 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 (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 Net income — — — 27,109 — — — 45 27,154 Compensation and benefits paid or payable in shares 15 — 2,914 — — (1) — — 2,914 Dividends declared on Class A Common Stock, $0.25 per share — — — (7,799) — — — — (7,799) Initial equity related to Noncontrolling interest in Arcari — — — — — — — 1,632 1,632 Cumulative translation adjustments — — — — (15,639) — — (145) (15,784) Pension and postretirement liability adjustments — — — — 34 — — — 34 Derivative valuation adjustment — — — — (2,237) — — — (2,237) September 30, 2023 40,857 $ 41 $ 446,470 $ 988,602 $ (155,609) 9,662 $ (364,665) $ 6,794 $ 921,633

Business Combination

Business Combination	9 Months Ended
Business Combination	Sep. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Business Combination	Business Combination On August 31, 2023, the Company acquired all the outstanding shares of Heimbach, a privately-held manufacturer of paper machine clothing with headquarters in Düren, Germany. For the three and nine months ended September 30, 2024, there were no material adjustments to the assets acquired and liabilities assumed. As of September 30, 2024, management’s review of the purchase price allocation has been completed.

Subsequent Events

Subsequent Events	9 Months Ended
Subsequent Events	Sep. 30, 2024
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsWe evaluated subsequent events through the issuance date of these financial statements in Form 10-Q. No material subsequent events were identified that require disclosure.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss) Attributable to Parent	$ 18,029	$ 27,109	$ 69,944	$ 80,670

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Sep. 30, 2024
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)	9 Months Ended
Significant Accounting Policies (Policies)	Sep. 30, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation In the opinion of management, the accompanying consolidated financial information reflects all adjustments necessary for a fair presentation of Albany International Corp.'s ("Albany", the "Registrant", the "Company", "we", "us", or "our") financial position, results of operations and cash flows for the interim periods presented, but does not include all disclosures required by the accounting principles generally accepted in the United States ("GAAP"). All such adjustments are of a normal recurring nature, unless otherwise disclosed in this report. Certain amounts in prior year financial statements and notes thereto have been reclassified to conform to current year presentation. The information included in this Quarterly Report on Form 10-Q should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2023.
Estimates	Estimates The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Estimates are used in the accounting for, among others, revenue recognition, contract profitability, allowances for doubtful accounts, rebates and sales allowances, inventory allowances, financial instruments, including derivatives, pension and other postretirement benefits, goodwill and intangible assets, contingencies, income taxes, and other accruals. Our estimates are based on historical experience and on various other assumptions, which are believed to be reasonable under the circumstances. Due to the inherent uncertainty involved in making estimates, actual results reported in future periods may differ from those estimates. Estimates and assumptions are reviewed periodically, and the effects of any revisions are reflected in the consolidated financial statements in the period they are determined to be necessary.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In November 2023, the FASB issued Accounting Standards Update No. 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures” (“ASU 2023-07”), which is intended to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The guidance is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The guidance is to be applied retrospectively to all prior periods presented in the financial statements. Upon transition, the segment expense categories and amounts disclosed in the prior periods should be based on the significant segment expense categories identified and disclosed in the period of adoption. We are currently evaluating the potential impact of adopting this new guidance on our consolidated financial statements and related disclosures. In December 2023, the FASB issued Accounting Standards Update No. 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures” (“ASU 2023-09”), which modifies the rules on income tax disclosures to require entities to disclose (1) specific categories in the rate reconciliation, (2) the income or loss from continuing operations before income tax expense or benefit (separated between domestic and foreign) and (3) income tax expense or benefit from continuing operations (separated by federal, state and foreign). ASU 2023-09 also requires entities to disclose their income tax payments to international, federal, state and local jurisdictions, among other changes. The guidance is effective for annual periods beginning after December 15, 2024. Early adoption is permitted for annual financial statements that have not yet been issued or made available for issuance. ASU 2023-09 should be applied on a prospective basis, but retrospective application is permitted. We are currently evaluating the potential impact of adopting this new guidance on our consolidated financial statements and related disclosures. In March 2024, the FASB issued Accounting Standards Update No. 2024-01, "Compensation - Stock Compensation (Topic 718): Scope Application of Profits Interest and Similar Awards" (ASU 2024-01), which clarifies how an entity determines whether profits interest or similar awards should be considered within the scope of ASC 718 as a share-based payment arrangement or under ASC 710 or other ASC topics in a manner similar to a cash bonus or profit-sharing arrangement. The guidance is effective for annual periods beginning after December 15, 2024, and interim periods beginning within those annual periods. Early adoption is permitted for both interim and annual financial statements that have not yet been issued or made available for issuance. ASU 2024-01 should be applied either (1) retrospectively to all prior periods presented in the financial statements or (2) prospectively to profits interest and similar awards granted or modified on or after the date at which the entity first applies the amendments. We are currently evaluating the potential impact of adopting this new guidance on our consolidated financial statements and related disclosures. In March 2024, the U.S. Securities and Exchange Commission ("SEC") adopted the final rule under SEC Release No. 33-11275, The Enhancement and Standardization of Climate-Related Disclosures for Investors. This rule would require registrants to disclose certain climate-related information in registration statements and annual reports. In April 2024, the SEC voluntarily stayed the final rule as a result of legal challenges that are pending judicial review. The disclosure requirements would apply to the Company's fiscal year beginning January 1, 2025, pending resolution of the stay. The Company is currently evaluating the final rule to determine its impact on the Company's disclosures.

Reportable Segments and Reven_2

Reportable Segments and Revenue Recognition (Tables)	9 Months Ended
Reportable Segments and Revenue Recognition (Tables)	Sep. 30, 2024
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 September 30, Nine months ended September 30, (in thousands) 2024 2023 2024 2023 Net revenues Machine Clothing $ 183,033 $ 166,588 $ 561,828 $ 479,027 Albany Engineered Composites 115,353 114,518 381,882 345,298 Consolidated revenues $ 298,386 $ 281,106 $ 943,710 $ 824,325 Operating income/(loss) Machine Clothing $ 51,481 $ 50,710 $ 153,276 $ 153,400 Albany Engineered Composites (10,293) 9,374 8,329 27,460 Corporate expenses (16,017) (20,014) (54,552) (54,747) Consolidated Operating income $ 25,171 $ 40,070 $ 107,053 $ 126,113 Reconciling items: Interest income (1,019) (1,826) (3,101) (4,770) Interest expense 3,430 5,479 11,781 14,819 Other (income)/expense, net 3,257 56 5,932 (4,910) Income before income taxes $ 19,503 $ 36,361 $ 92,441 $ 120,974
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 September 30, 2024: Three months ended September 30, 2024 (in thousands) Point in Time Revenue Recognition Over Time Revenue Recognition Total Machine Clothing $ 182,050 $ 983 $ 183,033 Albany Engineered Composites: ASC — 40,115 40,115 Other AEC 4,142 71,096 75,238 Total Albany Engineered Composites 4,142 111,211 115,353 Total revenues $ 186,192 $ 112,194 $ 298,386 The following table disaggregates revenue for each product group by timing of revenue recognition for the three months ended September 30, 2023: Three months ended September 30, 2023 (in thousands) Point in Time Revenue Recognition Over Time Revenue Recognition Total Machine Clothing $ 165,643 $ 945 $ 166,588 Albany Engineered Composites: ASC — 46,654 46,654 Other AEC 4,955 62,909 67,864 Total Albany Engineered Composites 4,955 109,563 114,518 Total revenues $ 170,598 $ 110,508 $ 281,106 The following table disaggregates revenue for each product group by timing of revenue recognition for the nine months ended September 30, 2024: Nine months ended September 30, 2024 (in thousands) Point in Time Revenue Over Time Revenue Total Machine Clothing $ 558,881 $ 2,947 $ 561,828 Albany Engineered Composites: ASC — 140,146 140,146 Other AEC 15,908 225,828 241,736 Total Albany Engineered Composites 15,908 365,974 381,882 Total revenues $ 574,789 $ 368,921 $ 943,710 The following table disaggregates revenue for each product group by timing of revenue recognition for the nine months ended September 30, 2023: Nine months ended September 30, 2023 (in thousands) Point in Time Revenue Over Time Revenue Total Machine Clothing $ 476,194 $ 2,833 $ 479,027 Albany Engineered Composites: ASC — 138,603 138,603 Other AEC 14,259 192,436 206,695 Total Albany Engineered Composites 14,259 331,039 345,298 Total revenues $ 490,453 $ 333,872 $ 824,325
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 September 30, Nine months ended September 30, (in thousands) 2024 2023 2024 2023 Americas PMC $ 86,408 $ 84,405 $ 258,442 $ 261,937 Eurasia PMC 70,083 64,493 224,792 164,771 Engineered Fabrics 26,542 17,690 78,594 52,319 Total Machine Clothing Net revenues $ 183,033 $ 166,588 $ 561,828 $ 479,027

Pensions and Other Postretire_2

Pensions and Other Postretirement Benefit Plans (Tables)	9 Months Ended
Pensions and Other Postretirement Benefit Plans (Tables)	Sep. 30, 2024
Retirement Benefits [Abstract]
Schedule of Net Benefit Costs	The composition of the net periodic benefit cost/(income) for the nine months ended September 30, 2024 and 2023, was as follows: Pension plans Other postretirement benefits (in thousands) 2024 2023 2024 2023 Components of net periodic benefit cost/(income): Service cost $ 1,473 $ 986 $ 35 $ 45 Interest cost 4,545 3,447 1,063 1,405 Expected return on assets (4,030) (3,063) — — Amortization of prior service cost/(income) (20) (24) (93) (3,068) Amortization of net actuarial loss 556 421 (26) 621 Net periodic benefit cost/(credit) $ 2,524 $ 1,767 $ 979 $ (997)

Restructuring (Tables)

Restructuring (Tables)	9 Months Ended
Restructuring (Tables)	Sep. 30, 2024
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Charges	The following table summarizes charges reported in the Consolidated Statements of Income under "Restructuring expenses, net": Three months ended September 30, Nine months ended September 30, (in thousands) 2024 2023 2024 2023 Machine Clothing $ 2,207 $ 82 $ 3,294 $ 227 Albany Engineered Composites 34 — 3,144 — Corporate expenses 31 — 146 — Total $ 2,272 $ 82 $ 6,584 $ 227 The following tables summarizes charges by type of expense reported in the Consolidated Statements of Income under "Restructuring expenses, net" and "Cost of goods sold": Nine months ended September 30, 2024 Total Termination Impairment of assets (in thousands) Machine Clothing $ 4,581 $ 3,294 $ 1,287 Albany Engineered Composites 3,144 3,144 — Corporate expenses 146 146 — Total $ 7,871 $ 6,584 $ 1,287 Nine months ended September 30, 2023 Total Termination Impairment of assets (in thousands) Machine Clothing $ 227 $ 227 $ — Albany Engineered Composites — — — Corporate expenses — — — Total $ 227 $ 227 $ —
Schedule of Changes in Restructuring Liabilities	The table below presents the year-to-date changes in restructuring liabilities for 2024 and 2023: (in thousands) December 31, 2023 Restructuring Payments Currency September 30, 2024 Total termination and other costs $ — $ 6,584 $ (4,064) $ 90 $ 2,610 (in thousands) December 31, 2022 Restructuring Payments Currency September 30, 2023 Total termination and other costs $ — $ 227 $ (227) $ — $ —

Other (Income)_Expense, net (Ta

Other (Income)/Expense, net (Tables)	9 Months Ended
Other (Income)/Expense, net (Tables)	Sep. 30, 2024
Other Income and Expenses [Abstract]
Schedule of Other (Income)/Expense, net	The components of Other (income)/expense, net are: Three months ended September 30, Nine months ended September 30, (in thousands) 2024 2023 2024 2023 Currency transaction (gains)/losses $ 1,834 $ 511 $ 692 $ (3,622) Derivative instruments losses/(gains) (485) 704 3,788 581 Bank fees and amortization of debt issuance costs 48 49 169 140 Components of net periodic pension and postretirement cost other than service cost 663 (15) 1,995 (260) Other 1,197 (1,193) (712) (1,749) Total other (income)/expense, net $ 3,257 $ 56 $ 5,932 $ (4,910)

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
Income Taxes (Tables)	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Schedule of Reconciliation of the U.S. Federal Statutory Tax Rate to the Company's Effective Income Tax Rate	The Company's effective income tax rate for the three and nine months ended September 30, 2024 and 2023, is as follows: Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 Effective income tax rate 6.6 % 25.3 % 23.9 % 33.0 %

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
Earnings Per Share (Tables)	Sep. 30, 2024
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 September 30, Nine months ended September 30, (in thousands, except earnings per share) 2024 2023 2024 2023 Net income attributable to the Company $ 18,029 $ 27,109 $ 69,944 $ 80,670 Weighted average number of shares: Weighted average number of shares used in calculating basic net income per share 31,251 31,185 31,234 31,163 Effect of dilutive stock-based compensation plans: Restricted stock units and multi-year awards 116 98 99 93 Weighted average number of shares used in calculating diluted net income per share 31,367 31,283 31,333 31,256 Net income attributable to the Company per share: Basic $ 0.58 $ 0.87 $ 2.24 $ 2.59 Diluted $ 0.57 $ 0.87 $ 2.23 $ 2.58 ..

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income ("AOCI") (Tables)	9 Months Ended
Accumulated Other Comprehensive Income ("AOCI") (Tables)	Sep. 30, 2024
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, 2023 to September 30, 2024: (in thousands) Translation adjustments Pension and postretirement liability adjustments Derivative valuation adjustment Total Other Comprehensive Income December 31, 2023 $ (124,901) $ (17,346) $ 9,079 $ (133,168) Other comprehensive income/(loss) before reclassifications, net of tax (12,472) (285) 298 (12,459) Interest (expense)/income related to swaps reclassified to the Consolidated Statements of Income, net of tax — — (8,212) (8,212) Pension and postretirement liability adjustments reclassified to Consolidated Statements of Income, net of tax — 290 — 290 Net current period other comprehensive income (12,472) 5 (7,914) (20,381) September 30, 2024 $ (137,373) $ (17,341) $ 1,165 $ (153,549) The table below presents changes in the components of AOCI for the period from December 31, 2022 to September 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 (4,326) (183) 3,386 (1,123) Interest (expense)/income related to swaps reclassified to the Consolidated Statements of Income, net of tax — — (8,136) (8,136) Pension and postretirement liability adjustments reclassified to Consolidated Statements of Income, net of tax — (1,423) — (1,423) Net current period other comprehensive income (4,326) (1,606) (4,750) (10,682) September 30, 2023 $ (151,177) $ (17,389) $ 12,957 $ (155,609)
Schedule 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 nine ended September 30, 2024 and 2023: Three months ended September 30, Nine months ended September 30, (in thousands) 2024 2023 2024 2023 Pre-tax Derivative valuation reclassified from Accumulated Other Comprehensive Income: Interest expense/(income), net related to interest rate swaps included in Income before taxes $ (2,675) $ (3,990) $ (10,893) $ (10,891) Income tax effect 658 1,009 2,681 2,755 Effect on net income due to items reclassified from Accumulated Other Comprehensive Income $ (2,017) $ (2,981) $ (8,212) $ (8,136) Pre-tax pension and postretirement liabilities reclassified from Accumulated Other Comprehensive Income: Amortization of prior service credit $ (37) $ (1,031) $ (113) $ (3,092) Amortization of net actuarial loss 176 349 530 1,042 Total pre-tax amount reclassified (a) 139 (682) 417 (2,050) Income tax effect (42) 208 (127) 627 Effect on net income due to items reclassified from Accumulated Other Comprehensive Income $ 97 $ (474) $ 290 $ (1,423) (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 Interests (Table

Noncontrolling Interests (Tables)	9 Months Ended
Noncontrolling Interests (Tables)	Sep. 30, 2024
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 subsidiaries: ASC Noncontrolling Interest Nine months ended September 30, (in thousands, except percentages) 2024 2023 Net income of Albany Safran Composites (ASC) $ 3,754 $ 4,929 Less: Return attributable to the Company's preferred holding 850 974 Net income of ASC available for common ownership $ 2,904 $ 3,955 Ownership percentage of noncontrolling shareholder 10 % 10 % Net income attributable to the noncontrolling interest $ 290 $ 396 Noncontrolling interest, beginning of year $ 5,423 $ 4,494 Net income attributable to noncontrolling interest 290 396 Changes in other comprehensive income attributable to the noncontrolling interest (481) 317 ASC Noncontrolling interest, end of interim period $ 5,232 $ 5,207 Arcari Noncontrolling interest, end of interim period $ 447 $ 1,587 Total Noncontrolling interest, end of interim period $ 5,679 $ 6,794

Accounts Receivable (Tables)

Accounts Receivable (Tables)	9 Months Ended
Accounts Receivable (Tables)	Sep. 30, 2024
Receivables [Abstract]
Schedule of Accounts, Notes, Loans and Financing Receivable	As of September 30, 2024 and December 31, 2023, Accounts receivable consisted of the following: (in thousands) September 30, 2024 December 31, 2023 Trade and other accounts receivable $ 254,194 $ 272,351 Bank promissory notes 21,535 20,690 Allowance for expected credit losses (3,754) (5,260) Accounts receivable, net $ 271,975 $ 287,781
Schedule of Contract Receivables	As of September 30, 2024 and December 31, 2023, Noncurrent receivables consisted of the following: (in thousands) September 30, 2024 December 31, 2023 Noncurrent receivables $ — $ 4,414 Allowance for expected credit losses — (22) Noncurrent receivables, net $ — $ 4,392

Contract Assets and Liabiliti_2

Contract Assets and Liabilities (Tables)	9 Months Ended
Contract Assets and Liabilities (Tables)	Sep. 30, 2024
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Abstract]
Schedule of Contract Assets and Contract Liabilities	As of September 30, 2024 and December 31, 2023, Contract assets and Contract liabilities consisted of the following: (in thousands) September 30, 2024 December 31, 2023 Contract assets $ 196,765 $ 183,189 Allowance for expected credit losses (983) (908) Contract assets, net $ 195,782 $ 182,281 Contract liabilities $ 7,122 $ 7,127

Inventories (Tables)

Inventories (Tables)	9 Months Ended
Inventories (Tables)	Sep. 30, 2024
Inventory Disclosure [Abstract]
Schedule of Inventory	As of September 30, 2024 and December 31, 2023, Inventories consisted of the following: (in thousands) September 30, 2024 December 31, 2023 Raw materials $ 84,257 $ 79,611 Work in process 54,772 67,743 Finished goods 21,588 22,213 Total inventories $ 160,617 $ 169,567

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	9 Months Ended
Goodwill and Other Intangible Assets (Tables)	Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets and Goodwill	The following table sets forth the gross carrying value, accumulated amortization and net values of intangible assets and goodwill as of September 30, 2024 and December 31, 2023: September 30, 2024 (in thousands) Amortization Gross carrying amount Accumulated amortization Net carrying amount Finite-lived assets: AEC Trademarks and trade names 6-15 $ 208 $ (194) $ 14 AEC Technology 10-15 6,226 (3,201) 3,025 AEC Intellectual property 15 1,250 (402) 848 AEC Customer relationships 8-15 69,395 (46,500) 22,895 Heimbach Developed technology 9 9,166 (1,090) 8,076 Total Finite-lived intangible assets $ 86,245 $ (51,387) $ 34,858 Indefinite-lived intangible assets: Heimbach Trade name $ 6,138 $ — $ 6,138 MC Goodwill 67,407 — 67,407 AEC Goodwill 113,505 — 113,505 Total Indefinite-lived intangible assets: $ 187,050 $ — $ 187,050 December 31, 2023 (in thousands) Amortization Gross carrying amount Accumulated amortization Net carrying amount Finite-lived assets: AEC Trademarks and trade names 6-15 $ 208 $ (186) $ 22 AEC Technology 10-15 6,161 (2,735) 3,426 AEC Intellectual property 15 1,250 (339) 911 AEC Customer relationships 8-15 69,360 (43,875) 25,485 Heimbach Developed technology 9 9,042 (310) 8,732 Total Finite-lived assets $ 86,021 $ (47,445) $ 38,576 Indefinite-lived intangible assets: Heimbach Trade name $ 6,070 $ — $ 6,070 MC Goodwill 66,873 — 66,873 AEC Goodwill 113,308 — 113,308 Total Indefinite-lived intangible assets: $ 186,251 $ — $ 186,251
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	The changes in intangible assets, net and goodwill from December 31, 2023 to September 30, 2024, were as follows: (in thousands) December 31, 2023 Other Amortization Currency September 30, 2024 Finite-lived intangible assets: AEC Trademarks and trade names $ 22 $ — $ (8) $ — $ 14 AEC Technology 3,426 — (428) 27 3,025 AEC Intellectual property 911 — (63) — 848 AEC Customer relationships 25,485 — (2,611) 21 22,895 Heimbach Developed technology 8,732 — (767) 111 8,076 Total Finite-lived intangible assets $ 38,576 $ — $ (3,877) $ 159 $ 34,858 Indefinite-lived intangible assets: Heimbach Trade name $ 6,070 $ — $ — $ 68 $ 6,138 MC Goodwill 66,873 — — 534 67,407 AEC Goodwill 113,308 — — 197 113,505 Total Indefinite-lived assets: $ 186,251 $ — $ — $ 799 $ 187,050

Financial Instruments (Tables)

Financial Instruments (Tables)	9 Months Ended
Financial Instruments (Tables)	Sep. 30, 2024
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	The following table represents the Company's outstanding debt: (in thousands, except interest rates) September 30, 2024 December 31, 2023 Borrowings under the Amended Credit Agreement (1) $ 360,000 $ 446,000 Foreign bank debt 2,194 10,885 Total bank debt 362,194 456,885 Less: Current maturities of long-term debt 555 4,218 Long-term debt $ 361,639 $ 452,667 (1) the credit facility matures in August 2028. At the end of September 30, 2024 and December 31, 2023, the interest rate in effect was 2.50% and 3.49%, respectively, including the effect of interest rate hedging transactions, as described below.
Schedule Interest Rate for Borrowings	The applicable interest rate for borrowings under the Amended Credit Agreement 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 Term Benchmark/ Daily <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)	9 Months Ended
Fair-Value Measurements (Tables)	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Schedule 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: September 30, 2024 December 31, 2023 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 $ 13,401 $ — $ 27,157 $ — Foreign currency option contracts — — — 1,725 Foreign currency forward contracts — — — 199 Other Assets: Common stock of unaffiliated foreign public company (a) 693 — 682 — Interest rate swaps — 1,722 — 12,214 Liabilities Foreign currency forward contracts — (1,105) — — (a) Original cost basis $0.5 million.
Schedule 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 September 30, Nine months ended September 30, (in thousands) 2024 2023 2024 2023 Derivatives not designated as hedging instruments: Foreign currency options (gains)/losses $ (485) $ 704 $ 3,788 $ 581

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
Commitments and Contingencies (Tables)	Sep. 30, 2024
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 For the period ended December 31, 2023 3,598 19 27 3,606 $ 74 For the period ended September 30, 2024 3,606 9 45 3,642 $ 13

Changes in Shareholders' Equi_2

Changes in Shareholders' Equity (Tables)	9 Months Ended
Changes in Shareholders' Equity (Tables)	Sep. 30, 2024
Stockholders' Equity Note [Abstract]
Schedule of Stockholders Equity	The following table summarizes changes in Shareholders’ Equity for the period December 31, 2023 to September 30, 2024: 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 Shares Amount Shares Amount December 31, 2023 40,856 $ 41 $ 448,218 $ 1,010,942 $ (133,168) 9,662 $ (364,665) $ 5,952 $ 967,320 Net income — — — 27,291 — — — 78 27,369 Compensation and benefits paid or payable in shares 42 — 810 — — — — — 810 Dividends declared on Class A Common Stock, $0.26 per share — — — (8,122) — — — — (8,122) Cumulative translation adjustments — — — — (12,116) — — 46 (12,070) Pension and postretirement liability adjustments — — — — 382 — — — 382 Derivative valuation adjustment — — — — (2,124) — — — (2,124) March 31, 2024 40,898 $ 41 $ 449,028 $ 1,030,111 $ (147,026) 9,662 $ (364,665) $ 6,076 $ 973,565 Net income — — — 24,624 — — — 96 24,720 Compensation and benefits paid or payable in shares — — 2,530 — — — — — 2,530 Shares issued to Directors' 10 — 903 — — — — — 903 Dividends declared on Class A Common Stock, $0.26 per share — — — (8,123) — — — — (8,123) Cumulative translation adjustments — — — — (17,287) — — (366) (17,653) Pension and postretirement liability adjustments — — — — 246 — — — 246 Derivative valuation adjustment — — — — (2,840) — — — (2,840) June 30, 2024 40,908 $ 41 $ 452,461 $ 1,046,612 $ (166,907) 9,662 $ (364,665) $ 5,806 $ 973,348 Net income — — — 18,029 — — — 192 18,221 Compensation and benefits paid or payable in shares 9 — 195 — — — — — 195 Dividends declared on Class A Common Stock, $0.26 per share — — — (8,127) — — — — (8,127) Dividends paid to noncontrolling interests — — — — — — — (166) (166) Cumulative translation adjustments — — — — 16,931 — — (153) 16,778 Pension and postretirement liability adjustments — — — — (623) — — — (623) Derivative valuation adjustment — — — — (2,950) — — — (2,950) September 30, 2024 40,917 $ 41 $ 452,656 $ 1,056,514 $ (153,549) 9,662 $ (364,665) $ 5,679 $ 996,676 The following table summarizes changes in Shareholders’ Equity for the period December 31, 2022 to September 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 (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 Net income — — — 27,109 — — — 45 27,154 Compensation and benefits paid or payable in shares 15 — 2,914 — — (1) — — 2,914 Dividends declared on Class A Common Stock, $0.25 per share — — — (7,799) — — — — (7,799) Initial equity related to Noncontrolling interest in Arcari — — — — — — — 1,632 1,632 Cumulative translation adjustments — — — — (15,639) — — (145) (15,784) Pension and postretirement liability adjustments — — — — 34 — — — 34 Derivative valuation adjustment — — — — (2,237) — — — (2,237) September 30, 2023 40,857 $ 41 $ 446,470 $ 988,602 $ (155,609) 9,662 $ (364,665) $ 6,794 $ 921,633

Reportable Segments and Reven_3

Reportable Segments and Revenue Recognition (Narrative) (Details) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) segment	Sep. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments \| segment			2
Net revenues	$ 298,386	$ 281,106	$ 943,710	$ 824,325
Global information system expense	7,800	6,300	24,200	19,300
Operating income (loss)	25,171	40,070	107,053	126,113
Heimbach
Segment Reporting Information [Line Items]
Net revenue of acquiree since acquisition date, actual	27,800	15,600	105,500	15,600
Operating loss of acquiree since acquisition date, actual	(4,300)	(500)	(6,700)	(500)
Albany Engineered Composites
Segment Reporting Information [Line Items]
Net revenues	115,353	114,518	381,882	345,298
Operating income (loss)	(22,400)	$ 900	(28,300)	(4,100)
Albany Engineered Composites \| CH-53K Programs
Segment Reporting Information [Line Items]
Operating income (loss)	(13,300)
Albany Engineered Composites \| Gulfstream Program
Segment Reporting Information [Line Items]
Operating income (loss)	(6,500)
Albany Engineered Composites \| F-35 Program
Segment Reporting Information [Line Items]
Operating income (loss)	(2,200)
Albany Engineered Composites \| Other Program
Segment Reporting Information [Line Items]
Operating income (loss)	(400)
Revenue Benchmark \| Product Concentration Risk \| Albany Engineered Composites \| US Government Contracts Or Programs
Segment Reporting Information [Line Items]
Concentration risk percentage					39%
SAFRAN Group \| Albany Engineered Composites
Segment Reporting Information [Line Items]
Net revenues			142,200	$ 140,800
Receivables	$ 89,900		$ 89,900		$ 93,800
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		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Segment Reporting Information [Line Items]
Consolidated revenues	$ 298,386	$ 281,106	$ 943,710	$ 824,325
Consolidated Operating income	25,171	40,070	107,053	126,113
Other (income)/expense, net	3,257	56	5,932	(4,910)
Income before income taxes	19,503	36,361	92,441	120,974
Corporate expenses
Segment Reporting Information [Line Items]
Consolidated Operating income	(16,017)	(20,014)	(54,552)	(54,747)
Segment Reconciling Items
Segment Reporting Information [Line Items]
Interest income	(1,019)	(1,826)	(3,101)	(4,770)
Interest expense	3,430	5,479	11,781	14,819
Other (income)/expense, net	3,257	56	5,932	(4,910)
Machine Clothing
Segment Reporting Information [Line Items]
Consolidated revenues	183,033	166,588	561,828	479,027
Machine Clothing \| Operating Segments
Segment Reporting Information [Line Items]
Consolidated revenues	183,033	166,588	561,828	479,027
Consolidated Operating income	51,481	50,710	153,276	153,400
Albany Engineered Composites
Segment Reporting Information [Line Items]
Consolidated revenues	115,353	114,518	381,882	345,298
Consolidated Operating income	(22,400)	900	(28,300)	(4,100)
Albany Engineered Composites \| Operating Segments
Segment Reporting Information [Line Items]
Consolidated revenues	115,353	114,518	381,882	345,298
Consolidated Operating income	$ (10,293)	$ 9,374	$ 8,329	$ 27,460

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		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Disaggregation of Revenue [Line Items]
Net revenues	$ 298,386	$ 281,106	$ 943,710	$ 824,325
Point in Time Revenue Recognition
Disaggregation of Revenue [Line Items]
Net revenues	186,192	170,598	574,789	490,453
Over Time Revenue Recognition
Disaggregation of Revenue [Line Items]
Net revenues	112,194	110,508	368,921	333,872
Machine Clothing
Disaggregation of Revenue [Line Items]
Net revenues	183,033	166,588	561,828	479,027
Machine Clothing \| Point in Time Revenue Recognition
Disaggregation of Revenue [Line Items]
Net revenues	182,050	165,643	558,881	476,194
Machine Clothing \| Over Time Revenue Recognition
Disaggregation of Revenue [Line Items]
Net revenues	983	945	2,947	2,833
Albany Engineered Composites
Disaggregation of Revenue [Line Items]
Net revenues	115,353	114,518	381,882	345,298
Albany Engineered Composites \| Point in Time Revenue Recognition
Disaggregation of Revenue [Line Items]
Net revenues	4,142	4,955	15,908	14,259
Albany Engineered Composites \| Over Time Revenue Recognition
Disaggregation of Revenue [Line Items]
Net revenues	111,211	109,563	365,974	331,039
ASC
Disaggregation of Revenue [Line Items]
Net revenues	40,115	46,654	140,146	138,603
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	40,115	46,654	140,146	138,603
Other AEC
Disaggregation of Revenue [Line Items]
Net revenues	75,238	67,864	241,736	206,695
Other AEC \| Point in Time Revenue Recognition
Disaggregation of Revenue [Line Items]
Net revenues	4,142	4,955	15,908	14,259
Other AEC \| Over Time Revenue Recognition
Disaggregation of Revenue [Line Items]
Net revenues	$ 71,096	$ 62,909	$ 225,828	$ 192,436

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		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Disaggregation of Revenue [Line Items]
Net revenues	$ 298,386	$ 281,106	$ 943,710	$ 824,325
Machine Clothing
Disaggregation of Revenue [Line Items]
Net revenues	183,033	166,588	561,828	479,027
Machine Clothing \| Americas PMC
Disaggregation of Revenue [Line Items]
Net revenues	86,408	84,405	258,442	261,937
Machine Clothing \| Eurasia PMC
Disaggregation of Revenue [Line Items]
Net revenues	70,083	64,493	224,792	164,771
Machine Clothing \| Engineered Fabrics
Disaggregation of Revenue [Line Items]
Net revenues	$ 26,542	$ 17,690	$ 78,594	$ 52,319

Reportable Segments and Reven_7

Reportable Segments and Revenue Recognition (Remaining Performance Obligation) (Details) - USD ($) $ in Millions	Sep. 30, 2024	Sep. 30, 2023
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 1,100	$ 759
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 40
Revenue, remaining performance obligation, expected timing of satisfaction, period	3 months
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	$ 167
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, amount	$ 147
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01
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 (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Pension plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 1,473	$ 986
Interest cost	4,545	3,447
Expected return on assets	(4,030)	(3,063)
Amortization of prior service cost/(income)	(20)	(24)
Amortization of net actuarial loss	556	421
Net periodic benefit cost/(credit)	2,524	1,767
Other postretirement benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	35	45
Interest cost	1,063	1,405
Expected return on assets	0	0
Amortization of prior service cost/(income)	(93)	(3,068)
Amortization of net actuarial loss	(26)	621
Net periodic benefit cost/(credit)	$ 979	$ (997)

Restructuring (Narrative) (Deta

Restructuring (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Restructuring Cost and Reserve [Line Items]
Restructuring expenses, net	$ 2,272	$ 82	$ 6,584	$ 227
Machine Clothing
Restructuring Cost and Reserve [Line Items]
Inventory write-down			1,300
Workforce Reductions \| Machine Clothing
Restructuring Cost and Reserve [Line Items]
Restructuring expenses, net			3,300
Workforce Reductions \| Albany Engineered Composites
Restructuring Cost and Reserve [Line Items]
Restructuring expenses, net			3,100
Inventory Write-off
Restructuring Cost and Reserve [Line Items]
Restructuring expenses, net			$ 1,287	$ 0

Restructuring (Schedule of Rest

Restructuring (Schedule of Restructuring Charges) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Restructuring expenses, net
Total restructuring expenses, net	$ 2,272	$ 82	$ 6,584	$ 227
Total restructuring costs incurred
Restructuring expenses, net
Total restructuring expenses, net			7,871	227
Termination and other costs
Restructuring expenses, net
Total restructuring expenses, net	2,272	82	6,584	227
Impairment of assets
Restructuring expenses, net
Total restructuring expenses, net			1,287	0
Operating Segments \| Machine Clothing \| Total restructuring costs incurred
Restructuring expenses, net
Total restructuring expenses, net			4,581	227
Operating Segments \| Machine Clothing \| Termination and other costs
Restructuring expenses, net
Total restructuring expenses, net	2,207	82	3,294	227
Operating Segments \| Machine Clothing \| Impairment of assets
Restructuring expenses, net
Total restructuring expenses, net			1,287	0
Operating Segments \| Albany Engineered Composites \| Total restructuring costs incurred
Restructuring expenses, net
Total restructuring expenses, net			3,144	0
Operating Segments \| Albany Engineered Composites \| Termination and other costs
Restructuring expenses, net
Total restructuring expenses, net	34	0	3,144	0
Operating Segments \| Albany Engineered Composites \| Impairment of assets
Restructuring expenses, net
Total restructuring expenses, net			0	0
Corporate expenses \| Total restructuring costs incurred
Restructuring expenses, net
Total restructuring expenses, net			146	0
Corporate expenses \| Termination and other costs
Restructuring expenses, net
Total restructuring expenses, net	$ 31	$ 0	146	0
Corporate expenses \| Impairment of assets
Restructuring expenses, net
Total restructuring expenses, net			$ 0	$ 0

Restructuring (Schedule of Re_2

Restructuring (Schedule of Restructuring Liability) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Restructuring Reserve [Roll Forward]
Restructuring charges accrued	$ 2,272	$ 82	$ 6,584	$ 227
Termination and other costs
Restructuring Reserve [Roll Forward]
Beginning balance			0	0
Restructuring charges accrued	2,272	82	6,584	227
Payments			(4,064)	(227)
Currency translation /other			90	0
Ending balance	$ 2,610	$ 0	$ 2,610	$ 0

Other (Income)_Expense, net (Sc

Other (Income)/Expense, net (Schedule of Other (Income)/Expense, net) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Other Income and Expenses [Abstract]
Currency transaction (gains)/losses	$ 1,834	$ 511	$ 692	$ (3,622)
Derivative instruments losses/(gains)	(485)	704	3,788	581
Bank fees and amortization of debt issuance costs	48	49	169	140
Components of net periodic pension and postretirement cost other than service cost	663	(15)	1,995	(260)
Other	1,197	(1,193)	(712)	(1,749)
Total other (income)/expense, net	$ 3,257	$ 56	$ 5,932	$ (4,910)

Other (Income)_Expense, net (Na

Other (Income)/Expense, net (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Business Acquisition [Line Items]
Foreign currency transaction gain (loss), realized	$ (1,800)	$ (500)	$ (700)	$ 3,600
Derivative instruments gains (losses)	$ 485	$ (704)	(3,788)	(581)
Loss on sale of assets			(515)	$ 0
Heimbach
Business Acquisition [Line Items]
Loss on sale of assets			$ 700

Income Taxes (Schedule of Recon

Income Taxes (Schedule of Reconciliation of the U.S. Federal Statutory Tax Rate to the Company's Effective Income Tax Rate) (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Effective income tax rate	6.60%	25.30%	23.90%	33%

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Income Taxes (Narrative) (Details) - USD ($) $ in Millions	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Effective income tax rate	6.60%	25.30%	23.90%	33%
Discrete tax benefit	$ 8.5		$ 11
Decrease in unrecognized tax benefits is reasonably possible	$ 1.8		$ 1.8

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net income attributable to the Company	$ 18,029	$ 27,109	$ 69,944	$ 80,670
Weighted average number of shares:
Weighted average number of shares used in calculating basic net income per share (in shares)	31,251	31,185	31,234	31,163
Effect of dilutive stock-based compensation plans:
Weighted average number of shares used in calculating diluted net income per share (in shares)	31,367	31,283	31,333	31,256
Net income attributable to the Company per share:
Basic (in dollars per share)	$ 0.58	$ 0.87	$ 2.24	$ 2.59
Diluted (in dollars per share)	$ 0.57	$ 0.87	$ 2.23	$ 2.58
RSU and MPP
Effect of dilutive stock-based compensation plans:
Restricted stock units and multi-year awards (in shares)	116	98	99	93

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income ("AOCI") (Schedule of Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at start of the period	$ 967,320	$ 867,543
Other comprehensive income/(loss) before reclassifications, net of tax	(12,459)	(1,123)
Net current period other comprehensive income	(20,381)	(10,682)
Balance at end of the period	996,676	921,633
Total Other Comprehensive Income
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at start of the period	(133,168)	(144,927)
Balance at end of the period	(153,549)	(155,609)
Translation adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at start of the period	(124,901)	(146,851)
Other comprehensive income/(loss) before reclassifications, net of tax	(12,472)	(4,326)
Net current period other comprehensive income	(12,472)	(4,326)
Balance at end of the period	(137,373)	(151,177)
Pension and postretirement liability adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at start of the period	(17,346)	(15,783)
Other comprehensive income/(loss) before reclassifications, net of tax	(285)	(183)
Amounts reclassified to the Consolidated Statements of Income, net of tax	290	(1,423)
Net current period other comprehensive income	5	(1,606)
Balance at end of the period	(17,341)	(17,389)
Derivative valuation adjustment
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at start of the period	9,079	17,707
Other comprehensive income/(loss) before reclassifications, net of tax	298	3,386
Amounts reclassified to the Consolidated Statements of Income, net of tax	(8,212)	(8,136)
Net current period other comprehensive income	(7,914)	(4,750)
Balance at end of the period	$ 1,165	$ 12,957

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Income ("AOCI") (Schedule of Items Reclassified to Statement of Income) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest expense/(income), net related to interest rate swaps included in Income before taxes	$ 3,257	$ 56	$ 5,932	$ (4,910)
Income tax effect	1,282	9,207	22,131	39,908
Effect on net income due to items reclassified from Accumulated Other Comprehensive Income	(18,029)	(27,109)	(69,944)	(80,670)
Amortization of prior service credit	(37)	(1,031)	(113)	(3,092)
Amortization of net actuarial loss	176	349	530	1,042
Total pre-tax amount reclassified	(19,503)	(36,361)	(92,441)	(120,974)
Reclassification out of Accumulated Other Comprehensive Income \| Derivative valuation adjustment
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest expense/(income), net related to interest rate swaps included in Income before taxes	(2,675)	(3,990)	(10,893)	(10,891)
Income tax effect	658	1,009	2,681	2,755
Effect on net income due to items reclassified from Accumulated Other Comprehensive Income	(2,017)	(2,981)	(8,212)	(8,136)
Reclassification out of Accumulated Other Comprehensive Income \| Pension and postretirement liability adjustments
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income tax effect	(42)	208	(127)	627
Effect on net income due to items reclassified from Accumulated Other Comprehensive Income	97	(474)	290	(1,423)
Amortization of prior service credit	(37)	(1,031)	(113)	(3,092)
Amortization of net actuarial loss	176	349	530	1,042
Total pre-tax amount reclassified	$ 139	$ (682)	$ 417	$ (2,050)

Noncontrolling Interests (Narra

Noncontrolling Interests (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Jul. 31, 2021	Oct. 31, 2013
Noncontrolling Interest [Line Items]
Net income attributable to noncontrolling interest (less than)	$ 18,221	$ 24,720	$ 27,369	$ 27,154	$ 26,826	$ 27,086	$ 70,310	$ 81,066
Noncontrolling interest	5,679			6,794			5,679	6,794	$ 5,952
Arcari
Noncontrolling Interest [Line Items]
Net income attributable to noncontrolling interest (less than)							100
Noncontrolling interest	$ 447			$ 1,587			$ 447	$ 1,587
Heimbach \| Arcari
Noncontrolling Interest [Line Items]
Business acquisition, percentage of voting interests acquired										85%
Albany Safran Composites, LLC
Noncontrolling Interest [Line Items]
Ownership percentage of noncontrolling shareholder	10%						10%
Albany Safran Composites, LLC \| Safran
Noncontrolling Interest [Line Items]
Ownership percentage of noncontrolling shareholder	10%			10%			10%	10%			10%

Noncontrolling Interests (Sched

Noncontrolling Interests (Schedule of Income Attributable to the Noncontrolling Interest and Noncontrolling Equity) (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023	Oct. 31, 2013
Noncontrolling Interest [Line Items]
Net income of Albany Safran Composites (ASC)	$ 18,221	$ 24,720	$ 27,369	$ 27,154	$ 26,826	$ 27,086	$ 70,310	$ 81,066
Net income of ASC available for common ownership	18,029			27,109			69,944	80,670
Net income attributable to the noncontrolling interest	192			45			366	396
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Noncontrolling interest, beginning of year			5,952				5,952
Net income attributable to the noncontrolling interest	192			45			366	396
Noncontrolling interest, end of interim period	5,679			6,794			5,679	6,794
Arcari
Noncontrolling Interest [Line Items]
Net income of Albany Safran Composites (ASC)							100
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Noncontrolling interest, end of interim period	$ 447			1,587			$ 447	1,587
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)							$ 3,754	4,929
Less: Return attributable to the Company's preferred holding							850	974
Net income of ASC available for common ownership							2,904	3,955
Net income attributable to the noncontrolling interest							290	396
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Noncontrolling interest, beginning of year			$ 5,423			$ 4,494	5,423	4,494
Net income attributable to the noncontrolling interest							290	396
Changes in other comprehensive income attributable to the noncontrolling interest							(481)	317
Noncontrolling interest, end of interim period	$ 5,232			$ 5,207			$ 5,232	$ 5,207
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	Sep. 30, 2024	Dec. 31, 2023
Receivables [Abstract]
Trade and other accounts receivable	$ 254,194	$ 272,351
Bank promissory notes	21,535	20,690
Allowance for expected credit losses	(3,754)	(5,260)
Accounts receivable, net	$ 271,975	$ 287,781

Accounts Receivable (Schedule_2

Accounts Receivable (Schedule of Contract Receivables) (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Receivables [Abstract]
Noncurrent receivables	$ 0	$ 4,414
Allowance for expected credit losses	0	(22)
Noncurrent receivables, net	$ 0	$ 4,392

Contract Assets and Liabiliti_3

Contract Assets and Liabilities (Schedule of Contract Assets and Contract Liabilities) (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Abstract]
Contract assets	$ 196,765	$ 183,189
Allowance for expected credit losses	(983)	(908)
Contract assets, net	195,782	182,281
Contract liabilities	$ 7,122	$ 7,127

Contract Assets and Liabiliti_4

Contract Assets and Liabilities (Narrative) (Details) - USD ($)	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Abstract]
Contract with customer, asset, period increase	$ 13,500,000
Contract with customer, asset, impairment loss	0	$ 0
Contract with customer, liability, revenue recognized	$ 3,700,000	$ 14,400,000

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Raw materials	$ 84,257	$ 79,611
Work in process	54,772	67,743
Finished goods	21,588	22,213
Total inventories	$ 160,617	$ 169,567

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets (Schedule of Intangible Assets and Goodwill) (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Finite-lived Intangible Assets [Roll Forward]
Gross carrying amount	$ 86,245	$ 86,021
Accumulated amortization	(51,387)	(47,445)
Net carrying amount	34,858	38,576
Goodwill [Line Items]
Goodwill	180,912	180,181
Total Indefinite-lived intangible assets:	187,050	186,251
MC Goodwill
Goodwill [Line Items]
Goodwill	67,407	66,873
AEC Goodwill
Goodwill [Line Items]
Goodwill	113,505	113,308
Heimbach Trade name
Indefinite-Lived Intangible Assets [Line Items]
Indefinite-lived intangible assets (excluding goodwill)	6,138	6,070
AEC Trademarks and trade names
Finite-lived Intangible Assets [Roll Forward]
Gross carrying amount	208	208
Accumulated amortization	(194)	(186)
Net carrying amount	$ 14	$ 22
AEC Trademarks and trade names \| Minimum
Finite-Lived Intangible Assets [Line Items]
Amortization life in years	6 years	6 years
AEC Trademarks and trade names \| Maximum
Finite-Lived Intangible Assets [Line Items]
Amortization life in years	15 years	15 years
AEC Technology
Finite-lived Intangible Assets [Roll Forward]
Gross carrying amount	$ 6,226	$ 6,161
Accumulated amortization	(3,201)	(2,735)
Net carrying amount	$ 3,025	$ 3,426
AEC Technology \| Minimum
Finite-Lived Intangible Assets [Line Items]
Amortization life in years	10 years	10 years
AEC Technology \| Maximum
Finite-Lived Intangible Assets [Line Items]
Amortization life in years	15 years	15 years
AEC Intellectual property
Finite-Lived Intangible Assets [Line Items]
Amortization life in years	15 years	15 years
Finite-lived Intangible Assets [Roll Forward]
Gross carrying amount	$ 1,250	$ 1,250
Accumulated amortization	(402)	(339)
Net carrying amount	848	911
AEC Customer relationships
Finite-lived Intangible Assets [Roll Forward]
Gross carrying amount	69,395	69,360
Accumulated amortization	(46,500)	(43,875)
Net carrying amount	$ 22,895	$ 25,485
AEC Customer relationships \| Minimum
Finite-Lived Intangible Assets [Line Items]
Amortization life in years	8 years	8 years
AEC Customer relationships \| Maximum
Finite-Lived Intangible Assets [Line Items]
Amortization life in years	15 years	15 years
Heimbach Developed technology
Finite-Lived Intangible Assets [Line Items]
Amortization life in years	9 years	9 years
Finite-lived Intangible Assets [Roll Forward]
Gross carrying amount	$ 9,166	$ 9,042
Accumulated amortization	(1,090)	(310)
Net carrying amount	$ 8,076	$ 8,732

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets (Schedule of Changes in Intangible Assets and Goodwill) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2024 USD ($)
Finite-lived Intangible Assets [Roll Forward]
Beginning balance	$ 38,576
Other Changes	0
Amortization	(3,877)
Currency Translation	159
Ending balance	34,858
Goodwill [Roll Forward]
Beginning balance	180,181
Ending balance	180,912
Indefinite-Lived Intangible Assets Including Goodwill [Roll Forward]
Beginning Balance	186,251
Other Changes	0
Currency Translation	799
Ending Balance	187,050
MC Goodwill
Goodwill [Roll Forward]
Beginning balance	66,873
Other Changes	0
Currency Translation	534
Ending balance	67,407
AEC Goodwill
Goodwill [Roll Forward]
Beginning balance	113,308
Other Changes	0
Currency Translation	197
Ending balance	113,505
Heimbach Trade name
Indefinite-Lived Intangible Assets [Roll Forward]
Beginning Balance	6,070
Other Changes	0
Currency Translation	68
Ending Balance	6,138
AEC Trademarks and trade names
Finite-lived Intangible Assets [Roll Forward]
Beginning balance	22
Other Changes	0
Amortization	(8)
Currency Translation	0
Ending balance	14
AEC Technology
Finite-lived Intangible Assets [Roll Forward]
Beginning balance	3,426
Other Changes	0
Amortization	(428)
Currency Translation	27
Ending balance	3,025
AEC Intellectual property
Finite-lived Intangible Assets [Roll Forward]
Beginning balance	911
Other Changes	0
Amortization	(63)
Currency Translation	0
Ending balance	848
AEC Customer relationships
Finite-lived Intangible Assets [Roll Forward]
Beginning balance	25,485
Other Changes	0
Amortization	(2,611)
Currency Translation	21
Ending balance	22,895
Heimbach Developed technology
Finite-lived Intangible Assets [Roll Forward]
Beginning balance	8,732
Other Changes	0
Amortization	(767)
Currency Translation	111
Ending balance	$ 8,076

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets (Narrative) (Details) - USD ($)	3 Months Ended
	Oct. 03, 2024	Jun. 30, 2024
Finite-Lived Intangible Assets [Line Items]
Goodwill impairment charges		$ 0
Subsequent Event
Finite-Lived Intangible Assets [Line Items]
Reporting unit, reduction in percentage of fair value in excess of carrying amount	26%
Reporting unit, percentage of fair value in excess of carrying amount	20%

Financial Instruments (Schedule

Financial Instruments (Schedule of Long-Term Debt) (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Long-term debt	$ 362,194	$ 456,885
Less: Current maturities of long-term debt	555	4,218
Long-term debt	361,639	452,667
Line of Credit
Debt Instrument [Line Items]
Long-term debt	$ 360,000	$ 446,000
Interest rate, effective percentage	2.50%	3.49%
Foreign bank debt
Debt Instrument [Line Items]
Long-term debt	$ 2,194	$ 10,885

Financial Instruments (Narrativ

Financial Instruments (Narrative) (Details)			9 Months Ended
Financial Instruments (Narrative) (Details)	Sep. 30, 2024 USD ($)	Aug. 16, 2023 USD ($)	Sep. 30, 2024 USD ($)	Dec. 31, 2021 USD ($)
Debt Instrument [Line Items]
Maximum leverage ratio allowed	3.50	3.75	3.50
Maximum leverage ratio allowed, after significant acquisition		4.25
Minimum interest coverage ratio required		3
Leverage ratio	0.99		0.99
Interest coverage ratio	15.39		15.39
Line of Credit \| Interest rate swaps
Debt Instrument [Line Items]
Derivative, notional amount	$ 350,000,000		$ 350,000,000	$ 350,000,000
All-in interest SOFR rate	2.38%		2.38%
Unsecured Debt \| Line of Credit
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity		$ 800,000,000
Debt instrument, term		5 years
Total spread	1.50%
Borrowings outstanding	$ 360,000,000		$ 360,000,000
Line of credit facility, remaining borrowing capacity	$ 440,000,000		440,000,000
Debt covenant, maximum annual dividend payout amount			$ 40,000,000

Financial Instruments (Schedu_2

Financial Instruments (Schedule Interest Rate for Borrowings) (Details) - Line of Credit - Unsecured Debt		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2024
Line of Credit Facility [Line Items]
Term Benchmark/ Daily Simple SOFR Spread	1.50%
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
Base Rate \| Less than 1.00:1.00
Line of Credit Facility [Line Items]
Term Benchmark/ Daily Simple SOFR 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]
Term Benchmark/ Daily Simple SOFR 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]
Term Benchmark/ Daily Simple SOFR Spread		0.75%
Base Rate \| Greater than or equal to 3.00:1.00
Line of Credit Facility [Line Items]
Term Benchmark/ Daily Simple SOFR Spread		1%
SOFR \| Less than 1.00:1.00
Line of Credit Facility [Line Items]
Term Benchmark/ Daily Simple SOFR 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]
Term Benchmark/ Daily Simple SOFR 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]
Term Benchmark/ Daily Simple SOFR Spread		1.75%
SOFR \| Greater than or equal to 3.00:1.00
Line of Credit Facility [Line Items]
Term Benchmark/ Daily Simple SOFR Spread		2%

Fair-Value Measurements (Schedu

Fair-Value Measurements (Schedule of Fair Value of Financial Assets and Liabilities) (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Derivative Asset [Abstract]
Equity securities, cost basis	$ 500	$ 500
Fair Value, Recurring \| (Level 1)
Assets:
Cash equivalents	13,401	27,157
Common stock of unaffiliated foreign public company	693	682
Fair Value, Recurring \| (Level 1) \| Foreign currency option contracts
Assets:
Derivative asset	0	0
Fair Value, Recurring \| (Level 1) \| Foreign currency forward contracts
Assets:
Derivative asset	0	0
Liabilities:
Derivative liability	0	0
Fair Value, Recurring \| (Level 1) \| Interest rate swaps
Assets:
Derivative asset	0	0
Fair Value, Recurring \| (Level 2)
Assets:
Cash equivalents	0	0
Common stock of unaffiliated foreign public company	0	0
Fair Value, Recurring \| (Level 2) \| Foreign currency option contracts
Assets:
Derivative asset	0	1,725
Fair Value, Recurring \| (Level 2) \| Foreign currency forward contracts
Assets:
Derivative asset	0	199
Liabilities:
Derivative liability	(1,105)	0
Fair Value, Recurring \| (Level 2) \| Interest rate swaps
Assets:
Derivative asset	$ 1,722	$ 12,214

Fair-Value Measurements (Narrat

Fair-Value Measurements (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Derivative [Line Items]
Interest (income) expense	$ 2,411	$ 3,653	$ 8,680	$ 10,049
Interest rate swaps
Derivative [Line Items]
Interest (income) expense			$ (10,900)	$ (10,900)

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		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Derivative Instruments, Gain (Loss) [Line Items]
Foreign currency options (gains)/losses	$ (485)	$ 704	$ 3,788	$ 581
Foreign currency option contracts \| Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Foreign currency options (gains)/losses	$ (485)	$ 704	$ 3,788	$ 581

Commitments and Contingencies_2

Commitments and Contingencies (Narrative) (Details) $ in Thousands	9 Months Ended	12 Months Ended	153 Months Ended	249 Months Ended	285 Months Ended
	Sep. 30, 2024 USD ($) claim	Dec. 31, 2023 claim	Sep. 30, 2024 USD ($) claim	Sep. 30, 2024 USD ($) claim	Sep. 30, 2024 USD ($) claim	Dec. 31, 2022 claim
Loss Contingencies [Line Items]
Number of pending claims	3,642		3,642	3,642	3,642
Subsidiaries \| Brandon Drying Fabrics, Inc.
Loss Contingencies [Line Items]
Number of pending claims	7,676		7,676	7,676	7,676
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	3,642	3,606	3,642	3,642	3,642	3,598
Total resolved claims, by means of settlement or dismissal	38,050		38,050	38,050	38,050
Total cost of resolution \| $	$ 10,700		$ 10,700	$ 10,700	$ 10,700
Resolution costs paid by insurance carrier	100%
Confirmed insurance coverage \| $	$ 140,000		$ 140,000	$ 140,000	$ 140,000
New claims	45	27

Commitments and Contingencies_3

Commitments and Contingencies (Schedule of Changes in Claims) (Details) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2024 USD ($) claim	Dec. 31, 2023 USD ($) claim
Loss Contingency Accrual [Roll Forward]
Closing Number of Claims	3,642
Asbestos Issue
Loss Contingency Accrual [Roll Forward]
Opening Number of Claims	3,606	3,598
Claims Dismissed, Settled, or Resolved	9	19
New Claims	45	27
Closing Number of Claims	3,642	3,606
Amounts Paid to Settle or Resolve \| $	$ 13	$ 74

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						9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at start of the period	$ 973,348	$ 973,565	$ 967,320	$ 915,719	$ 897,515	$ 867,543	$ 967,320	$ 867,543
Net income	18,221	24,720	27,369	27,154	26,826	27,086	70,310	81,066
Compensation and benefits paid or payable in shares	195	2,530	810	2,914	811	378
Shares issued to Directors'		903			1,086
Initial equity related to Noncontrolling interest in Arcari				1,632
Dividends paid to noncontrolling interests	(166)
Cumulative translation adjustments	16,778	(17,653)	(12,070)	(15,784)	(2,389)	14,119
Pension and postretirement liability adjustments	(623)	246	382	34	(724)	(916)
Derivative valuation adjustment	(2,950)	(2,840)	(2,124)	(2,237)	389	(2,902)
Balance at end of the period	$ 996,676	973,348	$ 973,565	$ 921,633	915,719	897,515	$ 996,676	$ 921,633
Dividends declared on Class A Common Stock (in dollars per share)	$ 0.26			$ 0.25			$ 0.78	$ 0.75
Common Class A
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Treasury stock, balance at the beginning of the period (in shares)			9,661,845				9,661,845
Dividends declared on Class A Common Stock	$ (8,127)	$ (8,123)	$ (8,122)	$ (7,799)	$ (7,795)	$ (7,792)
Treasury stock, balance at the end of the period (in shares)	9,661,845						9,661,845
Dividends declared on Class A Common Stock (in dollars per share)	$ 0.26	$ 0.26	$ 0.26	$ 0.25	$ 0.25	$ 0.25
Common Stock \| Common Class A
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock, balance at the beginning of the period (in shares)	40,908,000	40,898,000	40,856,000	40,842,000	40,842,000	40,785,000	40,856,000	40,785,000
Balance at start of the period	$ 41	$ 41	$ 41	$ 41	$ 41	$ 41	$ 41	$ 41
Compensation and benefits paid or payable in shares (in shares)	9,000		42,000	15,000		58,000
Shares issued to Directors' (in shares)		(10,000)
Common stock, balance at the end of the period (in shares)	40,917,000	40,908,000	40,898,000	40,857,000	40,842,000	40,842,000	40,917,000	40,857,000
Balance at end of the period	$ 41	$ 41	$ 41	$ 41	$ 41	$ 41	$ 41	$ 41
Additional paid-in capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at start of the period	452,461	449,028	448,218	443,556	441,917	441,540	448,218	441,540
Compensation and benefits paid or payable in shares	195	2,530	810	2,914	811	378
Shares issued to Directors'		903			828
Balance at end of the period	452,656	452,461	449,028	446,470	443,556	441,917	452,656	446,470
Retained earnings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at start of the period	1,046,612	1,030,111	1,010,942	969,292	950,415	931,318	1,010,942	931,318
Net income	18,029	24,624	27,291	27,109	26,672	26,889
Balance at end of the period	1,056,514	1,046,612	1,030,111	988,602	969,292	950,415	1,056,514	988,602
Retained earnings \| Common Class A
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends declared on Class A Common Stock	(8,127)	(8,123)	(8,122)	(7,799)	(7,795)	(7,792)
Accumulated items of other comprehensive income
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at start of the period	(166,907)	(147,026)	(133,168)	(137,767)	(134,864)	(144,927)	(133,168)	(144,927)
Cumulative translation adjustments	16,931	(17,287)	(12,116)	(15,639)	(2,568)	13,881
Pension and postretirement liability adjustments	(623)	246	382	34	(724)	(916)
Derivative valuation adjustment	(2,950)	(2,840)	(2,124)	(2,237)	389	(2,902)
Balance at end of the period	(153,549)	(166,907)	(147,026)	(155,609)	(137,767)	(134,864)	(153,549)	(155,609)
Treasury Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at start of the period	$ (364,665)	$ (364,665)	$ (364,665)	$ (364,665)	$ (364,923)	$ (364,923)	$ (364,665)	$ (364,923)
Treasury stock, balance at the beginning of the period (in shares)	9,662,000	9,662,000	9,662,000	9,663,000	9,675,000	9,675,000	9,662,000	9,675,000
Compensation and benefits paid or payable in shares (in shares)				1,000
Shares issued to Directors' (in shares)					(12,000)
Shares issued to Directors'					$ 258
Balance at end of the period	$ (364,665)	$ (364,665)	$ (364,665)	$ (364,665)	$ (364,665)	$ (364,923)	$ (364,665)	$ (364,665)
Treasury stock, balance at the end of the period (in shares)	9,662,000	9,662,000	9,662,000	9,662,000	9,663,000	9,675,000	9,662,000	9,662,000
Noncontrolling Interest
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at start of the period	$ 5,806	$ 6,076	$ 5,952	$ 5,262	$ 4,929	$ 4,494	$ 5,952	$ 4,494
Net income	192	96	78	45	154	197
Initial equity related to Noncontrolling interest in Arcari				1,632
Dividends paid to noncontrolling interests	(166)
Cumulative translation adjustments	(153)	(366)	46	(145)	179	238
Balance at end of the period	$ 5,679	$ 5,806	$ 6,076	$ 6,794	$ 5,262	$ 4,929	$ 5,679	$ 6,794