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Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2013	Jul. 15, 2013
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2013
Entity Registrant Name	ALBANY INTERNATIONAL CORP /DE/
Entity Central Index Key	0000819793
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2013
Document Fiscal Period Focus	Q2
Entity Filer Category	Large Accelerated Filer
Common Class A [Member]
Entity Common Stock, Shares Outstanding		284
Common Class B [Member]
Entity Common Stock, Shares Outstanding		32

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract]
Net sales	$ 197,974	$ 191,940	$ 384,628	$ 372,017
Cost of goods sold	120,541	113,440	234,426	225,231
Gross profit	77,433	78,500	150,202	146,786
Selling, general, and administrative expenses	41,994	37,146	78,547	84,169
Technical, product engineering, and research expenses	14,631	13,646	27,693	26,385
Restructuring and other, net	24,321	3,152	24,957	3,410
Pension settlement expense		110,560		119,735
Operating income/(loss)	(3,513)	(86,004)	19,005	(86,913)
Interest expense, net	3,547	3,969	7,572	8,613
Other expense/(income), net	2,211	(2,555)	2,945	1,993
Income/(loss) before income taxes	(9,271)	(87,418)	8,488	(97,519)
Income tax expense/(benefit)	(2,243)	(29,643)	4,005	(39,615)
Income/(loss) from continuing operations	(7,028)	(57,775)	4,483	(57,904)
(Loss)/income from operations of discontinued business	(575)	2,760	(575)	4,776
Gain on sale of discontinued business		34,709		92,677
Income tax (benefit)/expense on discontinued operations	(224)	13,439	(224)	26,253
(Loss)/income from discontinued operations	(351)	24,030	(351)	71,200
Net income/(loss)	$ (7,379)	$ (33,745)	$ 4,132	$ 13,296
Earnings per share - Basic
Income/(loss) from continuing operations	$ (0.22)	$ (1.84)	$ 0.14	$ (1.85)
Discontinued operations	(0.01)	0.76	(0.01)	2.27
Net income/(loss)	(0.23)	(1.08)	0.13	0.42
Earnings per share - Diluted
Income/(loss) from continuing operations	(0.22)	(1.84)	0.14	(1.84)
Discontinued operations	(0.01)	0.76	(0.01)	2.26
Net income/(loss)	$ (0.23)	$ (1.08)	$ 0.13	$ 0.42
Shares used in computing earnings per share:
Basic	31,628	31,349	31,562	31,329
Diluted	31,628	31,349	31,856	31,518
Dividends per share	$ 0.15	$ 0.14	$ 0.29	$ 0.27

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME [Abstract]
Net income/(loss)	$ (7,379)	$ (33,745)	$ 4,132	$ 13,296
Other comprehensive (loss)/income, before tax:
Foreign currency translation adjustments	(2,647)	(20,540)	(13,269)	(7,222)
Pension settlement		110,197		118,350
Pension plan remeasurement		(24,617)		(24,617)
Amortization of pension liability adjustment
Transition obligation	17	18	34	37
Prior service (credit)/cost	(909)	(909)	(1,817)	(1,817)
Net actuarial loss	1,664	1,870	3,328	4,447
Derivative valuation adjustment	2,414	(318)	2,871	(664)
Income taxes related to items of other comprehensive (loss)/income:
Pension settlement		(37,002)		(39,146)
Pension plan remeasurement		7,270		7,270
Amortization of pension liability adjustment	(271)	(304)	(541)	(827)
Derivative valuation adjustment	(941)	124	(1,119)	259
Other comprehensive (loss)/income, net of tax	(673)	35,789	(10,513)	56,070
Comprehensive (loss)/income	$ (8,052)	$ 2,044	$ (6,381)	$ 69,366

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2013	Dec. 31, 2012
ASSETS
Cash and cash equivalents	$ 197,321	$ 190,718
Accounts receivable, net	174,881	171,535
Inventories	117,443	119,183
Income taxes receivable and deferred	20,298	20,594
Prepaid expenses and other current assets	12,311	10,435
Total current assets	522,254	512,465
Property, plant and equipment, net	406,845	420,154
Intangibles	733	848
Goodwill	75,688	76,522
Deferred taxes	125,549	123,886
Other assets	26,875	22,822
Total assets	1,157,944	1,156,697
LIABILITIES AND SHAREHOLDERS' EQUITY
Notes and loans payable	610	586
Accounts payable	34,032	35,117
Accrued liabilities	130,269	103,257
Current maturities of long-term debt	55,014	83,276
Income taxes payable and deferred	7,795	13,552
Total current liabilities	227,720	235,788
Long-term debt	265,368	235,877
Other noncurrent liabilities	131,808	136,012
Deferred taxes and other credits	52,771	55,509
Total liabilities	677,667	663,186
SHAREHOLDERS' EQUITY
Preferred stock, par value $5.00 per share; authorized 2,000,000 shares; none issued
Common Stock	40	40
Additional paid-in capital	397,606	395,381
Retained earnings	430,736	435,775
Accumulated items of other comprehensive income:
Translation adjustments	(22,153)	(7,659)
Pension and postretirement liability adjustments	(67,255)	(69,484)
Derivative valuation adjustment	(1,126)	(2,878)
Treasury stock (Class A), at cost 8,463,635 shares in 2013 and 8,467,873 in 2012	(257,571)	(257,664)
Total shareholders' equity	480,277	493,511
Total liabilities and shareholders' equity	1,157,944	1,156,697
Common Class A [Member]
SHAREHOLDERS' EQUITY
Common Stock	37	37
Common Class B [Member]
SHAREHOLDERS' EQUITY
Common Stock	$ 3	$ 3

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2013	Dec. 31, 2012
Preferred Stock, par value per share	$ 5.00	$ 5.00
Preferred Stock, shares authorized	2,000,000	2,000,000
Preferred Stock, shares issued	0	0
Common Stock, shares outstanding	31,647,590
Treasury stock, shares	8,463,635	8,467,873
Common Class A [Member]
Common Stock, par value per share	$ 0.001	$ 0.001
Common Stock, shares authorized	100,000,000	100,000,000
Common Stock, shares issued	36,875,127	36,642,204
Common Class B [Member]
Common Stock, par value per share	$ 0.001	$ 0.001
Common Stock, shares authorized	25,000,000	25,000,000
Common Stock, shares issued	3,236,098	3,236,098
Common Stock, shares outstanding	3,236,098	3,236,098

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
OPERATING ACTIVITIES
Net income/(loss)	$ (7,379)	$ (33,745)	$ 4,132	$ 13,296
Adjustments to reconcile net income to net cash provided by/(used in) operating activities:
Depreciation	14,427	14,340	28,638	28,685
Amortization	1,654	1,767	3,317	3,553
Noncash interest expense		209		614
Change in long-term liabilities, deferred taxes and other credits	(7,864)	(58,125)	(3,991)	(125,244)
Write-off of pension liability adjustment due to settlement		110,197		118,350
Provision for write-off of property, plant and equipment	21	677	65	200
(Gain) on disposition of assets		(34,709)	(3,763)	(92,677)
Excess tax benefit of options exercised	(172)	(8)	(524)	(11)
Compensation and benefits paid or payable in Class A Common Stock	(476)	566	(1,174)	1,403
Changes in operating assets and liabilities, net of business divestitures:
Accounts receivable	(4,515)	(13,893)	(6,238)	(10,525)
Inventories	2,458	3,783	(530)	(129)
Prepaid expenses and other current assets	1,544	619	(2,033)	(997)
Income taxes prepaid and receivable	28	832	180	7,392
Accounts payable	(1,139)	(6,199)	(592)	(25)
Accrued liabilities	29,912	9,179	20,929	7,364
Income taxes payable	441	(4,486)	(4,877)	(2,530)
Other, net	(793)	(1,784)	(1,231)	(2,167)
Net cash provided by/(used in) operating activities	28,147	(10,780)	32,308	(53,448)
INVESTING ACTIVITIES
Purchases of property, plant and equipment	(14,620)	(9,881)	(27,808)	(14,190)
Purchased software	(555)	22	(648)	(8)
Proceeds from sale of assets			6,268
Proceeds from sale of discontinued operations, net of expenses		38,081		150,654
Net cash (used in)/provided by investing activities	(15,175)	28,222	(22,188)	136,456
FINANCING ACTIVITIES
Proceeds from borrowings	5,037	29,164	51,905	38,164
Principal payments on debt	(18,476)	(11,981)	(50,659)	(69,223)
Proceeds from options exercised	1,004	79	2,968	268
Excess tax benefit of options exercised	172	8	524	11
Debt acquisition costs	(76)		(1,639)
Dividends paid	(4,423)	(4,069)	(4,423)	(8,138)
Net cash (used in)/provided by financing activities	(16,762)	13,201	(1,324)	(38,918)
Effect of exchange rate changes on cash and cash equivalents	1,278	(6,976)	(2,193)	1,593
Increase in cash and cash equivalents	(2,512)	23,667	6,603	45,683
Cash and cash equivalents at beginning of period	199,833	140,925	190,718	118,909
Cash and cash equivalents at end of period	$ 197,321	$ 164,592	$ 197,321	$ 164,592

Basis of Presentation	6 Months Ended
Basis of Presentation	Jun. 30, 2013
Basis of Presentation [Abstract]
Basis of Presentation	*1. Basis of Presentation* In the opinion of management, the accompanying unaudited consolidated financial statements contain all adjustments, consisting of only normal recurring adjustments and elimination of intercompany transactions necessary for a fair presentation of results for such periods. Albany International Corp. consolidates the financial results of its subsidiaries for all periods presented. The results for any interim period are not necessarily indicative of results for the full year. The information included in this Quarterly Report on Form 10-Q should be read in conjunction with "Risk Factors," " Legal Proceedings," "Management's Discussion and Analysis of Financial Condition and Results of Operation," "Quantitative and Qualitative Disclosures about Market Risk" and the Consolidated Financial Statements and Notes thereto included in Items 1A, 3, 7, 7A and 8, respectively, of the Albany International Corp. Annual Report on Form 10-K for the fiscal year ended December 31, 2012. The preparation of financial statements in accordance with U.S. generally accepted accounting principles ("GAAP") requires management to make estimates and assumptions that affect the amounts reported in Albany International Corp.'s Consolidated Financial Statements and accompanying Notes. Actual results could differ materially from those estimates.

- Definition

The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure.

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+ Details

Discontinued Operations

6 Months Ended

Jun. 30, 2013

Discontinued Operations [Abstract]

Discontinued Operations

2. Discontinued Operations

In October 2011 we entered into a contract to sell the assets and liabilities of our Albany Door Systems (ADS) business to Assa Abloy AB for $130 million. Closing on the transaction occurred on January 11, 2012. Under the terms of the contract, Assa Abloy AB acquired our equity ownership of Albany Doors Systems GmbH in Germany, Albany Door Systems AB in Sweden, and other ADS affiliates in Germany, France, the Netherlands, Turkey, Poland, Belgium, New Zealand, and other countries, as well as the remaining ADS business assets, most of which were located in the United States, Australia, China, and Italy. In January 2012, the Company completed the sale of Albany Door Systems, and in March 2012, we finalized certain post-closing adjustments that increased the sale price by $5 million. As of December 31, 2012, $122 million of the total $135 million sale price had been received, with the remainder received in July 2013.

In May 2012, we announced an agreement to sell our PrimaLoft^® Products business and that transaction closed on June 29, 2012. Under the terms of the agreement, the purchaser acquired all of the assets of that business, which were located in the United States, Italy and Germany. The purchase price of $38.0 million included $3.8 million held in an escrow account which is included in Accounts receivable and is expected to be received in December 2013. The Company recorded a pre-tax gain in the second quarter of 2012 of $34.9 million as result of that sale. The Company recorded an accrual of $0.6 million for pre-closing liabilities that arose during the second quarter of 2013.

We have provided customary representations and warranties in the sale of both of these businesses but we do not expect any material negative financial consequence will result from these arrangements. In accordance with the applicable accounting guidance for discontinued businesses, the associated results of operations and financial position are reported separately in the accompanying Consolidated Statements of Operations and Balance Sheets. Cash flows of the discontinued operation were combined with cash flows from continuing operations in the Consolidated Statements of Cash Flows.

The table below summarizes operating results of the discontinued operations:


	Three months ended	Three months ended	Six months ended	Six months ended
(in thousands)	June 30, 2013	June 30, 2012	June 30, 2013	June 30, 2012

Net sales	$0	$ 10,283	$0	$ 19,774

(Loss)/Income from operations of discontinued business before tax	(575)	2,760	(575)	4,776

Gain on disposition of discontinued operations	-	34,709	-	92,677

Income tax (benefit)/expense	(224)	13,439	(224)	26,253

- Definition

The entire disclosure for the facts and circumstances leading to the completed or expected disposal, manner and timing of disposal, the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the segment in which the disposal group was reported, and the classification (whether sold or classified as held for sale) and carrying value of the assets and liabilities comprising the disposal group. Includes all disposal groups, including those classified as components of the entity (discontinued operations).

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+ Details

Reportable Segments

6 Months Ended

Jun. 30, 2013

Reportable Segments [Abstract]

Reportable Segments

3. Reportable Segments

The following tables show data by reportable segment, reconciled to consolidated totals included in the financial statements:

	Three months ended June 30,				Six months ended June 30,
(in thousands)	2013		2012		2013		2012
Net sales
Machine Clothing (MC)	$177,536		$177,122		$344,946		$341,410
Engineered Composites (AEC)	20,438		14,818		39,682		30,607
Consolidated total	$197,974		$191,940		$384,628		$372,017
Operating income/(loss)
Machine Clothing	$20,699		$44,997		$63,607		$75,842
Engineered Composites	(1,825	)	(369	)	(3,888	)	(340	)
Research expense	(7,673	)	(7,253	)	(14,664	)	(13,318	)
Unallocated expenses	(14,714	)	(123,379	)	(26,050	)	(149,097	)
Operating income/(loss) before reconciling items	(3,513	)	(86,004	)	19,005		(86,913	)
Reconciling items:
Interest income	(300	)	(522	)	(600	)	(606	)
Interest expense	3,847		4,491		8,172		9,219
Other expense/ (income), net	2,211		(2,555	)	2,945		1,993
Income/(loss) from continuing operations before income taxes	($9,271	)	($87,418	)	$8,488		($97,519	)

The table below presents pension settlement and restructuring costs by reportable segment (also see Note 5):

	Three months ended June 30,		Six months ended June 30,
(in thousands)	2013	2012	2013	2012
Pension settlement
Unallocated expenses	$0	$110,560	$0	$119,735

Restructuring expense
Machine Clothing	$24,230	$2,903	$24,423	$3,576
Engineered Composites	91	-	534	-
Unallocated expenses	-	249	-	(166	)
Consolidated total	$24,321	$3,152	$24,957	$3,410

Substantially all of the restructuring charges recorded in the second quarter of 2013 relate to the completion of consultations with employee works councils in Sélestat and St. Junien, France, which will result in the reduction of approximately 200 employees, most of which will leave the Company during the third quarter of 2013. The restructuring program was driven by the Company's need to balance manufacturing capacity and demand.

Through the first six months of 2013, the Company incurred some restructuring costs in the Engineered Composites segment that were related to organizational changes and exiting certain aerospace programs.

The 2012 restructuring expense was principally due to a reduction in workforce in Sweden and curtailment of manufacturing in New York and Wisconsin which was related to the lower demand for paper machine clothing. Those costs were partially offset by a reduction in accruals related to the Company's headquarters.

There were no material changes in the total assets of the reportable segments during this period.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 29
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599

+ Details

Pensions and Other Postretirement Benefit Plans

6 Months Ended

Jun. 30, 2013

Pensions and Other Postretirement Benefit Plans [Abstract]

Pensions and Other Postretirement Benefit Plans

4. Pensions and Other Postretirement Benefit Plans

Pension Plans

The Company has defined benefit pension plans covering certain U.S. and non-U.S. employees. The U.S. qualified defined benefit pension plan has been closed to new participants since October 1998 and, as of February 2009, benefits accrued under this plan were frozen. As a result of the freeze, employees covered by the pension plan will receive, at retirement, benefits already accrued through February 2009, but no new benefits accrue after that date. Benefit accruals under the U.S. Supplemental Executive Retirement Plan ("SERP") were similarly frozen. The eligibility, benefit formulas, and contribution requirements for plans outside of the U.S. vary by location.

Other Postretirement Benefits

In addition to providing pension benefits, the Company provides various medical, dental, and life insurance benefits for certain retired United States employees. U.S. employees hired prior to 2005 may become eligible for these benefits if they reach normal retirement age while working for the Company. Benefits provided under this plan are subject to change. Retirees share in the cost of these benefits. Effective January 2005, any new employees who wish to be covered under this plan will be responsible for the full cost of such benefits, except for life insurance benefits, which continue to be provided. In September 2008, we changed the cost sharing arrangement under this program such that increases in health care costs are the responsibility of plan participants.

The Company also provides certain postretirement life insurance benefits to retired employees in Canada. The Company accrues the cost of providing postretirement benefits during the active service period of the employees. The Company currently funds the plan as claims are paid.

The composition of the net periodic benefit plan cost for the six months ended June 30, 2013 and 2012 was as follows:

	Pension plans				Other postretirement benefits
(in thousands)	2013		2012		2013		2012

Components of net periodic benefit cost:
Service cost	$1,684		$1,699		$571		$536
Interest cost	4,000		7,589		1,604		1,844
Expected return on assets	(4,068	)	(7,184	)	-		-
Amortization of prior service cost/(credit)	17		17		(1,834	)	(1,834	)
Amortization of transition obligation	34		37		-		-
Amortization of net actuarial loss	1,571		2,839		1,757		1,608
Settlement	-		119,735		-		-
Net periodic benefit cost	$3,238		$124,732		$2,098		$2,154

In the first quarter of 2012, the Company announced a plan to significantly reduce its pension plan liabilities by settling certain pension obligations leading to settlement charges totaling $119.7 million for the first six months of 2012. In the first quarter of 2012, we recorded a settlement charge of $9.2 million related to the extinguishment of our pension plan liability in Sweden. In the second quarter of 2012, we recorded settlement charges totaling $110.6 million related to settling a majority of the defined benefit pension plan liabilities in the United States and Canada.

Restructuring

6 Months Ended

Jun. 30, 2013

Restructuring [Abstract]

Restructuring

5. Restructuring

During the second quarter of 2013, the Company completed consultations with employee works councils regarding a plan to restructure operations at the Company's Machine Clothing production facilities in Sélestat and St. Junien, France. The restructuring program was driven by the Company's need to balance manufacturing capacity and demand. The restructuring charges recorded primarily related to severance and social costs. Under the terms of the restructuring plan, the Company will also provide training, outplacement and other programs. The costs for those benefits will be recorded as restructuring in future quarters when they are incurred and are expected to total $6 to $8 million.

The Company expects to record a pension curtailment gain the second half of 2013 related to this restructuring activity, but the amount has not yet been determined. Whereas most of the affected employees were involved in the production process, the full effect of cost savings associated with the restructuring, estimated to be $10 million per year, will not be fully realized until the second half of 2014. The effects of the cost reduction will principally affect cost of goods sold.

Substantially all of the restructuring charges recorded in the second quarter of 2013 relate to the completion of these consultations, which will result in the reduction of approximately 200 employees, most of which will leave the Company during the third quarter of 2013. Whereas most of the affected employees were involved in the production process, the full effect of cost savings associated with the restructuring will not be fully realized until the second half of 2014. Through the first six months of 2013, the Company incurred some restructuring costs in the Engineered Composites segment that were related to organizational changes and exiting certain aerospace programs.

The following table summarizes charges reported in the Statements of Operations under "Restructuring and other":

	Three months ended June 30,		Six months ended June 30,
(in thousands)	2013	2012	2013	2012
Machine Clothing	$24,230	$2,903	$24,423	$3,576
Engineered Composites	91	-	534	-
Unallocated expenses	-	249	-	(166	)
Total	$24,321	$3,152	$24,957	$3,410

Six months ended June 30, 2013 (in thousands)	Total restructuring costs incurred	Termination and other costs	Impairment of plant and equipment	Benefit plan curtailment/ settlement
Machine Clothing	$24,423	$24,587	$ -	($164)
Engineered Composites	534	446	88	-
Unallocated expenses	-	-	-	-
Total	$24,957	$25,033	$88	($164)

Six months ended June 30, 2012 (in thousands)	Total restructuring costs incurred	Termination and other costs	Impairment of plant and equipment	Benefit plan curtailment/ settlement
Machine Clothing	$3,576	$3,576	$ -	$ -
Engineered Composites	-	-	-	-
Unallocated expenses	(166)	380	(546)	-
Total	$3,410	$3,956	($546)	$ -

We expect that substantially all accruals for restructuring liabilities will be paid within one year. The table below presents year-to-date changes in restructuring liabilities for 2013 and 2012 all of which related to termination costs:

(in thousands)	December 31, 2012	Restructuring charges accrued	Payments	Currency translation/ other	June 30, 2013
Total	$4,947	$24,869	($2,576)	($269)	$26,971

(in thousands)	December 31, 2011	Restructuring charges accrued	Payments	Currency translation/ other	June 30, 2012
Total	$6,979	$3,830	($2,778)	($243)	$7,788

Other Expense/(Income), net

6 Months Ended

Jun. 30, 2013

Other Expense/(Income), net [Abstract]

Other Expense/(Income), net

6. Other Expense/(Income), net

The components of Other expense/(income), net, are:


	Three months ended June 30,				Six months ended June 30,
(in thousands)	2013		2012		2013	2012
Currency transactions	$1,894		($3,133	)	$1,903	$699
Bank fees and amortization of debt issuance costs	377		533		998	1,209
Letter of credit fees	-		351		-	770
Other	(60	)	(306	)	44	(685	)
Total	$2,211		($2,555	)	$2,945	$1,993

Income Taxes

6 Months Ended

Jun. 30, 2013

Income Taxes [Abstract]

Income Taxes

7. Income Taxes

The following table presents components of income tax expense/(benefit) for the three and six month periods ended June 30, 2013 and 2012:


	Three months ended June 30,				Six months ended June 30,
(in thousands)	2013		2012		2013	2012

Income tax based on income from continuing operations, at estimated tax rates of 39.0% and 26.5%, respectively	($3,616	)	$6,133		$3,310	$5,896
Pension plan settlement	-		(37,047	)	-	(39,460	)
Tax rate adjustment on pension plan settlement	-		886		-	-
Provision for change in estimated tax rates	888		(297	)	-	-
Income tax before discrete items	(2,728	)	(30,325	)	3,310	(33,564	)

Discrete tax expense/(benefit):
Provision for/resolution of tax audits and contingencies, net	425		682		425	(6,051	)
Repatriation of non-U.S. prior year earnings	186		-		186	-
Adjustments to prior period tax liabilities	(126	)	-		84	-
Total income tax expense/(benefit)	($2,243	)	($29,643	)	$4,005	($39,615	)

The second quarter estimated effective tax rate on continuing operations was 39.0 percent in 2013 compared to 26.5 percent for the same period in 2012. The change in the estimated effective tax rate was primarily attributable to changes in the anticipated amount and distribution of income and loss among the countries in which we operate. The 2012 second quarter tax rate was also impacted by operating losses generated in tax jurisdictions where no tax benefit was recognized.

The Company records the residual U.S. and foreign taxes on certain amounts of current foreign earnings that have been targeted for repatriation to the U.S. As a result, such amounts are not considered to be permanently reinvested, and the Company accrued for the residual taxes on these earnings to the extent they cannot be repatriated in a tax-free manner. At June 30, 2013, the Company recorded a deferred tax liability of $0.9 million on $12.4 million of non-U.S. earnings that have been targeted for future repatriation to the U.S.

We conduct business globally and, as a result, the Company or one or more of our subsidiaries files income tax returns in the U.S. federal jurisdiction and various state and foreign jurisdictions. In the normal course of business we are subject to examination by taxing authorities throughout the world, including major jurisdictions as the United States, Brazil, Canada, France, Germany, Italy, Mexico, and Switzerland. Open tax years in these jurisdictions range from 2000 to 2012. We are currently under audit in the U.S. and non-U.S. tax jurisdictions, including but not limited to Canada, Germany, and France.

It is reasonably possible that over the next twelve months the amount of unrecognized tax benefits may change within a range of a net increase of $0 million to a net decrease of $2.5 million, from the reevaluation of uncertain tax positions arising in examinations, in appeals, or in the courts, or from the closure of tax statutes. Not included in the range is $22.7 million of tax benefits in Germany related to a 1999 reorganization that have been challenged by the German tax authorities in the course of an audit, of which $11.6 million would have a direct impact on our statement of income if resolved unfavorably. In 2008 the German Federal Tax Court (FTC) denied tax benefits to other taxpayers in a case involving German tax laws relevant to our reorganization. One of these cases involved a non-German party, and in the ruling in that case, the FTC acknowledged that the German law in question may be violative of European Union (EU) principles and referred the issue to the European Court of Justice (ECJ) for its determination on this issue. In September 2009, the ECJ issued an opinion in this case that is generally favorable to the other taxpayer and referred the case back to the FTC for further consideration. In May 2010 the FTC released its decision, in which it resolved certain tax issues that may be relevant to our audit and remanded the case to a lower court for further development. In 2012, the lower court decided in favor of the taxpayer and the government appealed the findings to the FTC. Although we were required to pay tax and interest of approximately $13.0 million to the German tax authorities in order to continue to pursue the position, when taking into consideration the ECJ decision, the latest FTC decision and the lower court decision, we believe that it is more likely than not that the relevant German law is violative of EU principles and, accordingly, we have not accrued tax expense on this matter. As we continue to monitor developments, it may become necessary for us to accrue tax expense and related interest.

Earnings Per Share

6 Months Ended

Jun. 30, 2013

Earnings Per Share [Abstract]

Earnings Per Share

8. Earnings Per Share

Earnings per share are computed using the weighted average number of shares of Class A Common Stock and Class B Common Stock outstanding during the period. Diluted earnings per share include the effect of all potentially dilutive securities.

The amounts used in computing earnings per share and the weighted average number of shares of potentially dilutive securities are as follows:

	Three months ended June 30,				Six months ended June 30,
(in thousands, except market price data)	2013		2012		2013	2012

Net income/(loss) available to common shareholders	($7,379	)	($33,745	)	$4,132	$13,296

Weighted average number of shares:

Weighted average number of shares used in
calculating basic net income/(loss) per share	31,628		31,349		31,562	31,329

Effect of dilutive stock-based compensation plans:

Stock options	-		-		125	69

Long-term incentive plan	-		-		169	120

Weighted average number of shares used in
calculating diluted net income/(loss) per share	31,628		31,349		31,856	31,518


Average market price of common stock used
for calculation of dilutive shares	$30.59		$20.22		$28.53	$22.08

Net income per share:

Basic	($0.23	)	($1.08	)	$0.13	$0.42

Diluted	($0.23	)	($1.08	)	$0.13	$0.42

As a result of a net loss in the second quarter of 2013 and 2012, the potential dilutive effect of stock-based compensation plans was not included in the computation of diluted earnings per share for these periods because to do so would have been antidilutive.

The following table presents the number of shares issued and outstanding:

	Class A	Class B	Less: Treasury	Net shares
	Shares	Shares	Shares	Outstanding
June 30, 2013	36,875,127	3,236,098	(8,463,635)	31,647,590
March 31, 2013	36,827,227	3,236,098	(8,467,873)	31,595,452
June 30, 2012	36,589,304	3,236,098	(8,467,873)	31,357,529

Accumulated Other Comprehensive Income

6 Months Ended

Jun. 30, 2013

Accumulated Other Comprehensive Income [Abstract]

Accumulated Other Comprehensive Income

9. Accumulated Other Comprehensive Income

The Company adopted the provisions of Accounting Standards Update 2013-02 in the first quarter of 2013, which requires enhanced disclosures of Accumulated Other Comprehensive Income.

The table below presents changes in the components of Accumulated Other Comprehensive Income for the period December 31, 2012 to June 30, 2013:


(in thousands)	Translation adjustments		Pension and postretirement liability adjustments		Derivative valuation adjustment		Total Other Comprehensive Income

Balance, December 31, 2012	($7,659	)	($69,484	)	($2,878	)	($80,021	)

Other comprehensive income before reclassifications	(14,494	)	1,225		2,301		(10,968	)
Interest expense related to swaps reclassified to the Statement of Operations, net of tax					(549	)	(549	)
Pension and postretirement liability adjustments reclassified to Statement of Operations, net of tax			1,004				1,004
Net current period other comprehensive income	(14,494	)	2,229		1,752		(10,513	)

Balance, June 30, 2013	($22,153	)	($67,255	)	($1,126	)	($90,534	)

The components of our Accumulated Other Comprehensive Income that are reclassified to the Statement of Operations relate to our pension and postretirement plans and interest rate swaps. The table below presents the amounts reclassified, and the line items of the Statement of Operations that were affected.


(in thousands)	Three months ended June 30, 2013		Six months ended June 30, 2013
Pretax Derivative valuation reclassified from Accumulated Other Comprehensive Income:
Swap interest expense	($500	)	($900	)
Income tax effect	(195	)	(351	)
Effect on net income due to items reclassified from Accumulated Other Comprehensive Income	($305	)	($549	)

Pretax pension and postretirement liabilities reclassified from Accumulated Other Comprehensive Income:
Amortization of prior service cost/(credit)	($908	)	($1,817	)
Amortization of transition obligation	17		34
Amortization of net actuarial loss	1,664		3,328
Total pretax amount reclassified	773		1,545

Income tax effect	(270	)	(541	)
Effect on net income due to items reclassified from Accumulated Other Comprehensive Income	$503		$1,004

Accounts Receivable

6 Months Ended

Jun. 30, 2013

Accounts Receivable [Abstract]

Accounts Receivable

10. Accounts Receivable

Accounts receivable includes trade receivables and revenue in excess of progress billings on Engineered Composites contracts accounted for under the percentage of completion method. The Company maintains allowances for doubtful accounts for estimated losses resulting from the inability of its customers to make required payments. The Company determines the allowance based on historical write-off experience, customer specific facts and economic conditions. If the financial condition of the Company's customers were to deteriorate, resulting in an impairment of their ability to make payments, additional allowances may be required.

The components of Accounts receivable are summarized below:


(in thousands)	June 30, 2013	December 31, 2012
Trade accounts receivable	$154,279	$149,737
Revenue in excess of progress billings	15,688	17,105
Receivables related to the sale of discontinued businesses	16,795	16,555
Less: allowance for doubtful accounts	(11,881)	(11,862)
Total Accounts receivable, net	$174,881	$171,535

- Definition

The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.

+ References + Details

Inventories

6 Months Ended

Jun. 30, 2013

Inventories [Abstract]

Inventories

11. Inventories

The components of Inventories are summarized below:


(in thousands)	June 30, 2013	December 31, 2012
Finished goods	$48,698	$49,235
Work in process	42,871	44,866
Raw material and supplies	25,874	25,082
Total inventories	$117,443	$119,183

Inventories are stated at the lower of cost or market and are valued at average cost, net of reserves. We record a provision for obsolete inventory based on the age and category of the inventories.

Goodwill and Other Intangible Assets

6 Months Ended

Jun. 30, 2013

Goodwill and Other Intangible Assets [Abstract]

Goodwill and Other Intangible Assets

12. Goodwill and Other Intangible Assets

Goodwill and intangible assets with indefinite useful lives are not amortized, but are tested for impairment at least annually. Goodwill represents the excess of the purchase price over the fair value of the net tangible and identifiable intangible assets acquired in each business combination. Our reporting units are consistent with our operating segments.

Determining the fair value of a reporting unit requires the use of significant estimates and assumptions, including revenue growth rates, operating margins, discount rates, and future market conditions, among others. Goodwill and other long-lived assets are reviewed for impairment whenever events, such as significant changes in the business climate, plant closures, changes in product offerings, or other circumstances indicate that the carrying amount may not be recoverable.

To determine fair value, we utilize two market-based approaches and an income approach. Under the market-based approaches, we utilize information regarding the Company as well as publicly available industry information to determine earnings multiples and sales multiples. Under the income approach, we determine fair value based on estimated future cash flows of each reporting unit, discounted by an estimated weighted-average cost of capital, which reflects the overall level of inherent risk of a reporting unit and the rate of return an outside investor would expect to earn.

The entire balance of goodwill is attributable to the Machine Clothing business. In the second quarter of 2013 the Company applied the quantitative assessment approach in performing its annual evaluation of goodwill and concluded that no impairment provision was required. In addition, there were no amounts at risk due to the large spread between the fair and carrying values.

We are continuing to amortize certain patents, trade names, customer contracts and technology assets that have finite lives. The changes in intangible assets and goodwill from December 31, 2012 to June 30, 2013, were as follows:


	Balance at			Currency		Balance at
(in thousands)	December 31, 2012	Amortization		Translation		June 30, 2013

Amortized intangible assets:
AEC trade names	$38	($2	)	$ -		$36
AEC customer contracts	606	(101	)	-		505
AEC technology	204	(12	)	-		192
Total amortized intangible assets	$848	($115	)	$ -		$733

Unamortized intangible assets:
Goodwill	$76,522	$ -		($834	)	$75,688

As of June 30, 2013, the balance of goodwill was $75.7 million and was completely attributable to our Machine Clothing reportable segment.

Estimated amortization expense of intangibles for the years ending December 31, 2013 through 2017, is as follows:

		Annual amortization
Year		(in thousands)
2013		$231
2014		231
2015		231
2016		29
2017		29

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References + Details

Financial Instruments

6 Months Ended

Jun. 30, 2013

Financial Instruments [Abstract]

Financial Instruments

13. Financial Instruments

Long-term debt consists of:



(in thousands, except interest rates)	June 30, 2013			December 31, 2012

Convertible notes, par value $28,437, issued in March 2006 with fixed contractual interest rates of 2.25%, due in 2026, redeemed March 2013	$	-		$	28,261

Private placement with a fixed interest rate of 6.84%, due in 2013 through 2017		150,000			150,000

Credit agreement with borrowings outstanding at an end of period interest rate of 2.75% in 2013 and 3.92% in 2012, due in 2018		164,000			132,000

Various notes and mortgages relative to operations principally outside the United States, at an average end of period rate of 3.07% in 2013 and 3.06% in 2012, due in varying amounts through 2021		6,382			8,892

Long-term debt		320,382			319,153

Less: current portion		(55,014	)		(83,276	)

Long-term debt, net of current portion	$	265,368		$	235,877

The note agreement and guaranty ("Prudential agreement") was entered into in October 2005, and was amended and restated September 17, 2010 and March 26, 2013, with the Prudential Insurance Company of America, and on certain other purchasers, in an aggregate principal amount of $150 million, with interest at 6.84% and a maturity date of October 25, 2017. There are mandatory payments of $50 million on October 25, 2013 and October 25, 2015. At the noteholders' election, certain prepayments may also be required in connection with certain asset dispositions or financings. The notes may not otherwise be prepaid without a premium, under certain market conditions. The Prudential agreement contains customary terms, as well as affirmative covenants, negative covenants, and events of default comparable to those in our current principal credit facility (as described below). For disclosure purposes, we are required to measure the fair value of outstanding debt on a recurring basis. As of June 30, 2013, the fair value of the Prudential agreement was approximately $168.5 million, which was measured using active market interest rates, which would be considered Level 2 for fair value measurement purposes.

On March 26, 2013, we entered into a $330 million, unsecured Five-Year Revolving Credit Facility Agreement ("Credit agreement"), under which $164 million of borrowings were outstanding as of June 30, 2013. The Credit agreement replaces the previous $390 million five-year Credit agreement made in 2010. The applicable interest rate for borrowings under the Credit agreement, as well as under the former agreement, is LIBOR plus a spread, based on our leverage ratio at the time of borrowing. At the time of the last borrowing on June 24, 2013, the spread was 1.375%. The spread is based on a pricing grid, which can go as low as 1.25% or as high as 1.875%, based on our leverage ratio.

Our ability to borrow additional amounts under the Credit agreement is conditional upon the absence of any defaults, as well as the absence of any material adverse change. Based on our maximum leverage ratio and our consolidated EBITDA (as defined in the Credit agreement), and without modification to any other Credit agreements, as of June 30, 2013 we would have been able to borrow an additional $166 million under the Credit agreement.

On July 16, 2010, we entered into interest rate hedging transactions that have the effect of fixing the LIBOR portion of the effective interest rate (before addition of the spread) on $105 million of the indebtedness drawn under the Credit agreement at the rate of 2.04% for five years. Under the terms of these transactions, we pay the fixed rate of 2.04% and the counterparties pay a floating rate based on the three-month LIBOR rate at each quarterly calculation date, which on April 16, 2013 was 0.28%. The net effect is to fix the effective interest rate on $105 million of indebtedness at 2.04%, plus the applicable spread, until these swap agreements expire on July 16, 2015. As of June 30, 2013, the all-in rate on the $105 million of debt was 3.415%.

On May 20, 2013, we entered into interest rate hedging transactions for the period July 16, 2015 through March 16, 2018. These transactions have the effect of fixing the LIBOR portion of the effective interest rate (before addition of the spread) on $110 million of the indebtedness drawn under the Credit agreement at the rate of 1.414% during this period. Under the terms of these transactions, we pay the fixed rate of 1.414% and the counterparties pay a floating rate based on the one-month LIBOR rate at each monthly calculation date, which on June 28, 2013 was 0.19%. The net effect is to fix the effective interest rate on $110 million of indebtedness at 1.414%, plus the applicable spread, during the swap period.

The interest rate swaps are accounted for as a hedge of future cash flows, as further described in Note 14 of the Notes to Consolidated Financial Statements. No cash collateral was received or pledged in relation to the swap agreements.

We are currently required to maintain a leverage ratio of not greater than 3.50 to 1.00 and minimum interest coverage of 3.00 to 1.00 under the Credit agreement and Prudential agreement.

As of June 30, 2013, our leverage ratio was 1.75 to 1.00 and our interest coverage ratio was 8.57 to 1.00. We may purchase our Common Stock or pay dividends to the extent our leverage ratio remains at or below 3.50 to 1.00, and may make acquisitions with cash provided our leverage ratio would not exceed 3.50 to 1.00 after giving pro forma effect to the acquisition.

On March 15, 2013, the Company redeemed, at 100 percent of par, all remaining 2.25% Convertible Senior Notes due 2026 (the "Notes"). The cash payments of $28.4 million were funded by increased borrowings under the Credit agreement.

In connection with the sale of the Notes, we entered into hedge and warrant transactions with respect to our Class A common stock. These transactions were intended to reduce the potential dilution upon conversion of the Notes by providing us with the option, subject to certain exceptions, to acquire shares in an amount equal to the number of shares that we would be required to deliver upon conversion of the Notes. These transactions had the economic effect to the Company of increasing the conversion price of the Notes to $52.25 per share. The Notes hedge and warrant transactions had a net cost of $14.7 million. The hedge transactions expired on March 15, 2013.

Pursuant to the warrant transactions, we sold a total of 4.1 million warrants, each exercisable to buy a single share of Class A common stock at an initial strike price of $52.25 per share. The warrants are American-style warrants (exercisable at any time), and expire over a period of sixty trading days, which began on June 15, 2013, with a final expiration date of September 10, 2013. If the warrants are exercised when they expire, we may choose either net cash or net share settlement. If the warrants are exercised before they expire, they must be net share settled. If we elect to net cash settle the warrants, we will pay cash in an amount equal to, for each exercise of warrants, (i) the number of warrants exercised multiplied by (ii) the excess of the volume weighted average price of our Class A common stock on the expiration date of such warrants (the "settlement price") over the strike price. Under net share settlement, we will deliver to the warrant holders a number of shares of our Class A common stock equal to, for each exercise of warrants, the amount payable upon net cash settlement divided by the settlement price.

Indebtedness under the Prudential agreement and the Credit agreement is ranked equally in right of payment to all unsecured senior debt.

We were in compliance with all debt covenants as of June 30, 2013.

Fair-Value Measurements

6 Months Ended

Jun. 30, 2013

Fair-Value Measurements [Abstract]

Fair-Value Measurements

14. 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. Accounting principles establish a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. The hierarchy is broken down into three general levels: Level 1 inputs are quoted prices in active markets for identical assets or liabilities; Level 2 inputs include data points that are observable, such as quoted prices for similar assets or liabilities in active markets, quoted prices for identical assets or similar assets or liabilities in markets that are not active, and inputs (other than quoted prices) such as interest rates and yield curves that are observable for the asset and liability, either directly or indirectly; Level 3 inputs are unobservable data points for the asset or liability, and include situations in which there is little, if any, market activity for the asset or liability.

The following table presents the fair-value hierarchy for our financial assets and liabilities measured at fair value on a recurring basis:

	Total fair value			Quoted prices in active markets		Significant other observable inputs
(in thousands)				(Level 1)		(Level 2)
Fair Value at June 30, 2013
Assets:
Cash equivalents	$	30,586		$	30,586	$	-
Other assets:
Common stock of foreign public company		848			848		-
Interest rate swap		1,852			-		1,852
Liabilities:
Other noncurrent liabilities:
Interest rate swap		(3,699	)		-		(3,699	)


Fair Value at December 31, 2012
Assets:
Cash equivalents	$	33,171		$	33,171	$	-
Other assets:
Common stock of foreign public company		562			562		-
Interest rate swap		-			-		-
Liabilities:
Other noncurrent liabilities:
Interest rate swap		(4,718	)		-		(4,718	)

During the six-months ended June 30, 2013, there were no transfers between levels 1, 2, and 3.

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 common stock of a foreign public company is traded in an active market exchange. The shares are measured at fair value using closing stock prices and are recorded in the Consolidated Balance Sheets as Other assets. The securities are classified as available for sale, and as a result any gain or loss is recorded in the Shareholders' Equity section of the Consolidated Balance Sheets rather than in the Consolidated Statements of Operations. When the security is sold or impaired, gains and losses are reported on the Consolidated Statements of Operations. Investments are considered to be impaired when a decline in fair value is judged to be other than temporary.

Foreign currency instruments are entered into periodically, and consist of foreign currency option contracts and forward contracts that are valued using quoted prices in active markets obtained from independent pricing sources. These instruments are measured using market foreign exchange prices and are recorded in the Consolidated Balance Sheets as Other current assets and Accounts payable, as applicable. Changes in fair value of these instruments are recorded as gains or losses within Other (income)/expense. There were no gains/(losses) for the six months ended June 30, 2013, and there were no open contracts at that date. Gains for the six months ended June 30, 2012 were $0.1 million.

When exercised, the foreign currency instruments are net settled with the same financial institution that bought or sold them. For all positions, whether options or forward contracts, there is risk from the possible inability of the financial institution to meet the terms of the contracts and the risk of unfavorable changes in interest and currency rates, which may reduce the value of the instruments. We seek to control 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.

We operate our business in many regions of the world, and currency rate movements can have a significant effect on operating results.

Changes in exchange rates can result in revaluation gains and losses that are recorded in Selling, General and Administrative expenses or Other income/expense, net. Revaluation gains and losses occur when our business units have intercompany (recorded in Other income/expense) or third-party trade receivable or payable balances (recorded in Selling, General and Administrative expenses) in a currency other than their local reporting (or functional) currency.

Operating results can also be affected by the translation of sales and costs, for each non-U.S. subsidiary, from the local functional currency to the U.S. dollar. The translation effect on the income statement is dependent on our net income or expense position in each non-U.S. currency in which we do business. A net income position exists when sales realized in a particular currency exceed expenses paid in that currency; a net expense position exists if the opposite is true.

The interest rate swaps are accounted for as hedges of future cash flows. The fair value of our interest rate swaps are derived from a discounted cash flow analysis based on the terms of the contract and the interest rate curve, and is included in Other assets and Other noncurrent liabilities in the Consolidated Balance Sheet. As of June 30, 2013, we reported an asset of $1.9 million, which is comprised of a liability of $4.1 million for the floating rate leg and a receivable of $5.9 million for the fixed rate leg, and a liability of $3.7 million, which is comprised of a liability of $4.9 million for the fixed rate leg, and a receivable of $1.2 million for the floating rate leg. Unrealized gains and losses on the swaps will flow through the caption Derivative valuation adjustment in the Shareholders' equity section of the Consolidated Balance Sheets, to the extent that the hedges are highly effective. Gains and losses related to the ineffective portion of the hedges will be recognized in the current period in earnings. Amounts accumulated in Other comprehensive income are reclassified as Interest expense, net when the related interest payments (that is, the hedged forecasted transactions) affect earnings. Interest expense related to the swaps totaled $0.9 million and $0.8 million for the six months ended June 30, 2013 and 2012, respectively.

Gains/ (losses) related to changes in fair value of derivative instruments that were recognized in Other expense/(income), net in the Statement of Operations were as follows:

	Three months ended June 30,		Six months ended June 30,
(in thousands)	2013	2012	2013	2012

Derivatives not designated as hedging instruments
Forward exchange options	-	119	-	118

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Contingencies

6 Months Ended

Jun. 30, 2013

Contingencies [Abstract]

Contingencies

15. 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 products that we previously manufactured. We produced asbestos-containing paper machine clothing synthetic dryer fabrics marketed during the period from 1967 to 1976 and used in certain paper mills. Such fabrics generally had a useful life of three to twelve months.

We were defending 4,295 claims as of July 19, 2013.

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:

Year ended December 31,	Opening Number of Claims	Claims Dismissed, Settled, or Resolved	New Claims	Closing Number of Claims	Amounts Paid (thousands) to Settle or Resolve
2005	29,411	6,257	1,297	24,451	$ 504
2006	24,451	6,841	1,806	19,416	3,879
2007	19,416	808	190	18,798	15
2008	18,798	523	110	18,385	52
2009	18,385	9,482	42	8,945	88
2010	8,945	3,963	188	5,170	159
2011	5,170	789	65	4,446	1,111
2012	4,446	90	107	4,463	530
*2013 as of July 19*	*4,463*	*215*	47	*4,295*	*$ 3*

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.

Exposure and disease information sufficient to meaningfully estimate a range of possible loss of a particular claim is typically not available until late in the discovery process, and often not until a trial date is imminent and a settlement demand has been received. For these reasons, we do not believe a meaningful estimate can be made regarding the range of possible loss with respect to 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 insurer, Liberty Mutual, has defended each case and funded settlements under a standard reservation of rights. As of July 19, 2013, we had resolved, by means of settlement or dismissal, 36,585 claims. The total cost of resolving all claims was $8.6 million. Of this amount, almost 100% was paid by our insurance carrier. The Company has over $125 million in confirmed insurance coverage that should be available with respect to current and future asbestos claims, as well as additional insurance coverage that we should be able to access.

Brandon Drying Fabrics, Inc. ("Brandon"), a subsidiary of Geschmay Corp., which is a subsidiary of the Company, is also a separate defendant in many of the asbestos cases in which Albany is named as a defendant. Brandon was defending against 7,815 claims as of July 19, 2013.

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:

Year ended December 31,	Opening Number of Claims	Claims Dismissed, Settled, or Resolved	New Claims	Closing Number of Claims	Amounts Paid (thousands) to Settle or Resolve
2005	9,985	642	223	9,566	$ 0
2006	9,566	1,182	730	9,114	0
2007	9,114	462	88	8,740	0
2008	8,740	86	10	8,664	0
2009	8,664	760	3	7,907	0
2010	7,907	47	9	7,869	0
2011	7,869	3	11	7,877	0
2012	7,877	12	2	7,867	0
*2013 as of July 19*	*7,867*	54	2	*7,815*	*$ 0*

We acquired Geschmay Corp., formerly known as Wangner Systems Corporation, in 1999. Brandon is a wholly owned subsidiary of Geschmay Corp. In 1978, Brandon acquired certain assets from Abney Mills ("Abney"), a South Carolina textile manufacturer. Among the assets acquired by Brandon from Abney were assets of Abney's wholly owned subsidiary, Brandon Sales, Inc. which had sold, among other things, dryer fabrics containing asbestos made by its parent, Abney. Although Brandon manufactured and sold dryer fabrics under its own name subsequent to the asset purchase, none of such fabrics contained asbestos. Because Brandon did not manufacture asbestos-containing products, and because it does not believe that it was the legal successor to, or otherwise responsible for obligations of Abney with respect to products manufactured by Abney, it believes it has strong defenses to the claims that have been asserted against it. As of July 19, 2013, Brandon has resolved, by means of settlement or dismissal, 9,787 claims for a total of $0.2 million. Brandon's insurance carriers initially agreed to pay 88.2% of the total indemnification and defense costs related to these proceedings, subject to the standard reservation of rights. The remaining 11.8% of the costs had been borne directly by Brandon. During 2004, Brandon's insurance carriers agreed to cover 100% of indemnification and defense costs, subject to policy limits and the standard reservation of rights, and to reimburse Brandon for all indemnity and defense costs paid directly by Brandon related to these proceedings.

For the same reasons set forth above with respect to Albany's claims, as well as the fact that no amounts have been paid to resolve any Brandon claims since 2001, we do not believe a meaningful estimate can be made regarding the range of possible loss with respect to these remaining claims.

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.

Although we do not believe, based on currently available information and for the reasons stated above, that a meaningful estimate of a range of possible loss can be made with respect to such claims, based on our understanding of the insurance policies available, how settlement amounts have been allocated to various policies, our settlement experience, the absence of any judgments against the Company or Brandon, the ratio of paper mill claims to total claims filed, and the defenses available, we currently do not anticipate any material liability relating to the resolution of the aforementioned pending proceedings in excess of existing insurance limits. Consequently, 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 and the trends in claims against us to date, we do not anticipate that additional claims likely to be filed against us in the future will have a material adverse effect on our financial position, results of operations, or cash flows. We are aware that litigation is inherently uncertain, especially when the outcome is dependent primarily on determinations of factual matters to be made by juries.

NAFTA Audits

The Company's affiliate in Mexico was notified in November 2010 that Mexican customs authorities expected to issue demands for duties on certain imports of paper machine clothing (PMC) from the Company and the Company's affiliate in Canada for which the Company has claimed duty-free treatment under the North American Free Trade Agreement ("NAFTA").

The notices result from a decision by the Mexican Servicio de Administración Tributaria ("SAT") to invalidate NAFTA certificates provided by the Company on products shipped to its Mexican affiliate during the years 2006 through 2008. The Demand Notices arose from an SAT audit during 2010, at the conclusion of which the SAT determined that the Company had failed to provide documentation sufficient to show that the certificates were validly issued, and declared the certificates issued during this period to be invalid. The Company believed that the certificates of origin were valid and properly issued and therefore commenced administrative appeals with SAT disputing its resolutions.

As a result of the aforementioned appeals, SAT ultimately revoked its earlier declarations of invalidation with respect to the certificates of origin at issue in all 36 open audit files, and ordered a further review of such certificates. The Company has now been informed that review of all 36 audit files has been completed, and that only a small number of shipments were ineligible for duty-free NAFTA treatment, primarily due to some alternative raw material that was sourced from Europe during a brief period when sufficient U.S.-sourced material was temporarily unavailable. As a result, the Company could be liable for an immaterial amount of tariff charges and penalties with respect to the shipments determined to be ineligible. The Company does not believe that it faces any material risk of certificates being invalidated with respect to any period other than the 2006 through 2008 audit period. For this reason, the Company does not feel that this matter is likely to have a material adverse effect on the Company's financial position, results of operations and cash flows.

Changes in Shareholders' Equity

6 Months Ended

Jun. 30, 2013

Changes in Shareholders' Equity [Abstract]

Changes in Shareholders' Equity

16. Changes in Shareholders' Equity

The following table summarizes changes in Stockholders' Equity:

(in thousands)	Class A Common Stock		Class B Common Stock		Additional paid in capital			Retained earnings			Accumulated items of other comprehensive income			Treasury stock			Total Shareholders' Equity
December 31, 2012		$37		$3		$395,381			$435,775			($80,021	)		($257,664	)		$493,511
Net income		-		-		-			4,132			-			-			4,132
Dividends declared		-		-		-			(9,171	)		-			-			(9,171	)
Compensation and benefits paid or payable in Class A Common Stock		-		-		(1,311	)		-			-			-			(1,311	)
Options exercised		-		-		3,492			-			-			-			3,492
Shares issued to Directors		-		-		44			-						93			137
Cumulative translation adjustment		-		-		-			-			(14,494	)		-			(14,494	)
Change in pension liability adjustment		-		-		-			-			2,229			-			2,229
Change in derivative valuation adjustment		-		-		-			-			1,752			-			1,752
June 30, 2013		$37		$3		$397,606			$430,736			($90,534	)		($257,571	)		$480,277

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-Paragraph 1
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-Subparagraph (SX 210.5-02.29-31)
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-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=6521494

Reference 12: http://www.xbrl.org/2003/role/presentationRef
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-Publisher SEC
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-Paragraph d
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Reference 15: http://www.xbrl.org/2003/role/presentationRef
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-Name Regulation S-X (SX)
-Number 210
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Reference 16: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
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Reference 17: http://www.xbrl.org/2003/role/presentationRef
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Reference 18: http://www.xbrl.org/2003/role/presentationRef
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Reference 19: http://www.xbrl.org/2003/role/presentationRef
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+ Details

Recent Accounting Pronouncements	6 Months Ended
Recent Accounting Pronouncements	Jun. 30, 2013
Recent Accounting Pronouncements [Abstract]
Recent Accounting Pronouncements	17. Recent Accounting Pronouncements In February 2013, the Financial Accounting Standards Board (FASB) issued ASU 2013-02 which requires enhanced disclosures about changes in Accumulated Other Comprehensive Income. We adopted these provisions in the first quarter of 2013 by adding a Note to the Consolidated Financial Statements that provides the additional disclosures. In the first quarter of 2013, the Company adopted the provisions of ASU 2013-01 which requires enhanced disclosures of the effect or potential effect of netting arrangements on an entity's financial position. This includes the effect or potential effect of rights of setoff associated with an entity's recognized assets and recognized liabilities within the scope of this Update. The Company has an interest rate swap agreement that is within the scope of Update and we have added additional disclosure in the Notes to Consolidated Financial Statements about the offsetting asset and liability components of that agreement.

Discontinued Operations (Tables)

6 Months Ended

Jun. 30, 2013

Discontinued Operations [Abstract]

Schedule of Financial Results of Discontinued Operations

The table below summarizes operating results of the discontinued operations:


	Three months ended	Three months ended	Six months ended	Six months ended
(in thousands)	June 30, 2013	June 30, 2012	June 30, 2013	June 30, 2012

Net sales	$0	$ 10,283	$0	$ 19,774

(Loss)/Income from operations of discontinued business before tax	(575)	2,760	(575)	4,776

Gain on disposition of discontinued operations	-	34,709	-	92,677

Income tax (benefit)/expense	(224)	13,439	(224)	26,253

- Definition

Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal.

+ References + Details

Reportable Segments (Tables)

6 Months Ended

Jun. 30, 2013

Reportable Segments [Abstract]

Schedule of Financial Data by Reporting Segment

The following tables show data by reportable segment, reconciled to consolidated totals included in the financial statements:

	Three months ended June 30,				Six months ended June 30,
(in thousands)	2013		2012		2013		2012
Net sales
Machine Clothing (MC)	$177,536		$177,122		$344,946		$341,410
Engineered Composites (AEC)	20,438		14,818		39,682		30,607
Consolidated total	$197,974		$191,940		$384,628		$372,017
Operating income/(loss)
Machine Clothing	$20,699		$44,997		$63,607		$75,842
Engineered Composites	(1,825	)	(369	)	(3,888	)	(340	)
Research expense	(7,673	)	(7,253	)	(14,664	)	(13,318	)
Unallocated expenses	(14,714	)	(123,379	)	(26,050	)	(149,097	)
Operating income/(loss) before reconciling items	(3,513	)	(86,004	)	19,005		(86,913	)
Reconciling items:
Interest income	(300	)	(522	)	(600	)	(606	)
Interest expense	3,847		4,491		8,172		9,219
Other expense/ (income), net	2,211		(2,555	)	2,945		1,993
Income/(loss) from continuing operations before income taxes	($9,271	)	($87,418	)	$8,488		($97,519	)

Schedule of Restructuring Costs by Reporting Segment

The table below presents pension settlement and restructuring costs by reportable segment (also see Note 5):

	Three months ended June 30,		Six months ended June 30,
(in thousands)	2013	2012	2013	2012
Pension settlement
Unallocated expenses	$0	$110,560	$0	$119,735

Restructuring expense
Machine Clothing	$24,230	$2,903	$24,423	$3,576
Engineered Composites	91	-	534	-
Unallocated expenses	-	249	-	(166	)
Consolidated total	$24,321	$3,152	$24,957	$3,410

Pensions and Other Postretirement Benefit Plans (Tables)

6 Months Ended

Jun. 30, 2013

Pensions and Other Postretirement Benefit Plans [Abstract]

Schedule of Net Periodic Benefit Plan Cost

The composition of the net periodic benefit plan cost for the six months ended June 30, 2013 and 2012 was as follows:

	Pension plans				Other postretirement benefits
(in thousands)	2013		2012		2013		2012

Components of net periodic benefit cost:
Service cost	$1,684		$1,699		$571		$536
Interest cost	4,000		7,589		1,604		1,844
Expected return on assets	(4,068	)	(7,184	)	-		-
Amortization of prior service cost/(credit)	17		17		(1,834	)	(1,834	)
Amortization of transition obligation	34		37		-		-
Amortization of net actuarial loss	1,571		2,839		1,757		1,608
Settlement	-		119,735		-		-
Net periodic benefit cost	$3,238		$124,732		$2,098		$2,154

Restructuring (Tables)

6 Months Ended

Jun. 30, 2013

Restructuring [Abstract]

Schedule of Restructuring Charges

The following table summarizes charges reported in the Statements of Operations under "Restructuring and other":

	Three months ended June 30,		Six months ended June 30,
(in thousands)	2013	2012	2013	2012
Machine Clothing	$24,230	$2,903	$24,423	$3,576
Engineered Composites	91	-	534	-
Unallocated expenses	-	249	-	(166	)
Total	$24,321	$3,152	$24,957	$3,410

Six months ended June 30, 2013 (in thousands)	Total restructuring costs incurred	Termination and other costs	Impairment of plant and equipment	Benefit plan curtailment/ settlement
Machine Clothing	$24,423	$24,587	$ -	($164)
Engineered Composites	534	446	88	-
Unallocated expenses	-	-	-	-
Total	$24,957	$25,033	$88	($164)

Six months ended June 30, 2012 (in thousands)	Total restructuring costs incurred	Termination and other costs	Impairment of plant and equipment	Benefit plan curtailment/ settlement
Machine Clothing	$3,576	$3,576	$ -	$ -
Engineered Composites	-	-	-	-
Unallocated expenses	(166)	380	(546)	-
Total	$3,410	$3,956	($546)	$ -

Schedule of Restructuring Liability

(in thousands)	December 31, 2012	Restructuring charges accrued	Payments	Currency translation/ other	June 30, 2013
Total	$4,947	$24,869	($2,576)	($269)	$26,971

(in thousands)	December 31, 2011	Restructuring charges accrued	Payments	Currency translation/ other	June 30, 2012
Total	$6,979	$3,830	($2,778)	($243)	$7,788

Other Expense/(Income), net (Tables)

6 Months Ended

Jun. 30, 2013

Other Expense/(Income), net [Abstract]

Other (Income)/Expense, Net

The components of Other expense/(income), net, are:


	Three months ended June 30,				Six months ended June 30,
(in thousands)	2013		2012		2013	2012
Currency transactions	$1,894		($3,133	)	$1,903	$699
Bank fees and amortization of debt issuance costs	377		533		998	1,209
Letter of credit fees	-		351		-	770
Other	(60	)	(306	)	44	(685	)
Total	$2,211		($2,555	)	$2,945	$1,993

Income Taxes (Tables)

6 Months Ended

Jun. 30, 2013

Income Taxes [Abstract]

Schedule of Components of Income Tax Expense

The following table presents components of income tax expense/(benefit) for the three and six month periods ended June 30, 2013 and 2012:


	Three months ended June 30,				Six months ended June 30,
(in thousands)	2013		2012		2013	2012

Income tax based on income from continuing operations, at estimated tax rates of 39.0% and 26.5%, respectively	($3,616	)	$6,133		$3,310	$5,896
Pension plan settlement	-		(37,047	)	-	(39,460	)
Tax rate adjustment on pension plan settlement	-		886		-	-
Provision for change in estimated tax rates	888		(297	)	-	-
Income tax before discrete items	(2,728	)	(30,325	)	3,310	(33,564	)

Discrete tax expense/(benefit):
Provision for/resolution of tax audits and contingencies, net	425		682		425	(6,051	)
Repatriation of non-U.S. prior year earnings	186		-		186	-
Adjustments to prior period tax liabilities	(126	)	-		84	-
Total income tax expense/(benefit)	($2,243	)	($29,643	)	$4,005	($39,615	)

Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2013

Earnings Per Share [Abstract]

Schedule Computing Earnings Per Share

The amounts used in computing earnings per share and the weighted average number of shares of potentially dilutive securities are as follows:

	Three months ended June 30,				Six months ended June 30,
(in thousands, except market price data)	2013		2012		2013	2012

Net income/(loss) available to common shareholders	($7,379	)	($33,745	)	$4,132	$13,296

Weighted average number of shares:

Weighted average number of shares used in
calculating basic net income/(loss) per share	31,628		31,349		31,562	31,329

Effect of dilutive stock-based compensation plans:

Stock options	-		-		125	69

Long-term incentive plan	-		-		169	120

Weighted average number of shares used in
calculating diluted net income/(loss) per share	31,628		31,349		31,856	31,518


Average market price of common stock used
for calculation of dilutive shares	$30.59		$20.22		$28.53	$22.08

Net income per share:

Basic	($0.23	)	($1.08	)	$0.13	$0.42

Diluted	($0.23	)	($1.08	)	$0.13	$0.42

Schedule of Shares Issued and Outstanding

The following table presents the number of shares issued and outstanding:

	Class A	Class B	Less: Treasury	Net shares
	Shares	Shares	Shares	Outstanding
June 30, 2013	36,875,127	3,236,098	(8,463,635)	31,647,590
March 31, 2013	36,827,227	3,236,098	(8,467,873)	31,595,452
June 30, 2012	36,589,304	3,236,098	(8,467,873)	31,357,529

- Definition

Tabular disclosure of an entity's stock, including par or stated value per share, number and dollar amount of share subscriptions, shares authorized, shares issued, shares outstanding, number and dollar amount of shares held in an employee trust, dividend per share, total dividends, share conversion features, par value plus additional paid in capital, the value of treasury stock and other information necessary to a fair presentation, and EPS information. Stock by class includes common, convertible, and preferred stocks which are not redeemable or redeemable solely at the option of the issuer. Includes preferred stock with redemption features that are solely within the control of the issuer and mandatorily redeemable stock if redemption is required to occur only upon liquidation or termination of the reporting entity. If more than one issue is outstanding, state the title of each issue and the corresponding dollar amount; dollar amount of any shares subscribed but unissued and the deduction of subscriptions receivable there from; number of shares authorized, issued, and outstanding.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 480
-SubTopic 10
-Section S99
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=27011957&loc=d3e177068-122764

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21553-112644

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(d),(e))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
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-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6403732&loc=d3e21300-112643

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
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-Paragraph 1
-Subparagraph (SX 210.5-02.28,29)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 30
-Article 5

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 29
-Article 5

+ Details

Accumulated Other Comprehensive Income (Tables)

6 Months Ended

Jun. 30, 2013

Accumulated Other Comprehensive Income [Abstract]

Schedule of Accumulated Other Comprehensive Income

The table below presents changes in the components of Accumulated Other Comprehensive Income for the period December 31, 2012 to June 30, 2013:


(in thousands)	Translation adjustments		Pension and postretirement liability adjustments		Derivative valuation adjustment		Total Other Comprehensive Income

Balance, December 31, 2012	($7,659	)	($69,484	)	($2,878	)	($80,021	)

Other comprehensive income before reclassifications	(14,494	)	1,225		2,301		(10,968	)
Interest expense related to swaps reclassified to the Statement of Operations, net of tax					(549	)	(549	)
Pension and postretirement liability adjustments reclassified to Statement of Operations, net of tax			1,004				1,004
Net current period other comprehensive income	(14,494	)	2,229		1,752		(10,513	)

Balance, June 30, 2013	($22,153	)	($67,255	)	($1,126	)	($90,534	)

Schedule of Accumulated Other Comprehensive Income Components Reclassified to Statement of Income


(in thousands)	Three months ended June 30, 2013		Six months ended June 30, 2013
Pretax Derivative valuation reclassified from Accumulated Other Comprehensive Income:
Swap interest expense	($500	)	($900	)
Income tax effect	(195	)	(351	)
Effect on net income due to items reclassified from Accumulated Other Comprehensive Income	($305	)	($549	)

Pretax pension and postretirement liabilities reclassified from Accumulated Other Comprehensive Income:
Amortization of prior service cost/(credit)	($908	)	($1,817	)
Amortization of transition obligation	17		34
Amortization of net actuarial loss	1,664		3,328
Total pretax amount reclassified	773		1,545

Income tax effect	(270	)	(541	)
Effect on net income due to items reclassified from Accumulated Other Comprehensive Income	$503		$1,004

Accounts Receivable (Tables)

6 Months Ended

Jun. 30, 2013

Accounts Receivable [Abstract]

Schedule of Accounts Receivable

The components of Accounts receivable are summarized below:


(in thousands)	June 30, 2013	December 31, 2012
Trade accounts receivable	$154,279	$149,737
Revenue in excess of progress billings	15,688	17,105
Receivables related to the sale of discontinued businesses	16,795	16,555
Less: allowance for doubtful accounts	(11,881)	(11,862)
Total Accounts receivable, net	$174,881	$171,535

Inventories (Tables)

6 Months Ended

Jun. 30, 2013

Inventories [Abstract]

Schedule of Inventories

The components of Inventories are summarized below:


(in thousands)	June 30, 2013	December 31, 2012
Finished goods	$48,698	$49,235
Work in process	42,871	44,866
Raw material and supplies	25,874	25,082
Total inventories	$117,443	$119,183

Goodwill and Other Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2013

Goodwill and Other Intangible Assets [Abstract]

Schedule of Changes in Intangible Assets and Goodwill

The changes in intangible assets and goodwill from December 31, 2012 to June 30, 2013, were as follows:


	Balance at			Currency		Balance at
(in thousands)	December 31, 2012	Amortization		Translation		June 30, 2013

Amortized intangible assets:
AEC trade names	$38	($2	)	$ -		$36
AEC customer contracts	606	(101	)	-		505
AEC technology	204	(12	)	-		192
Total amortized intangible assets	$848	($115	)	$ -		$733

Unamortized intangible assets:
Goodwill	$76,522	$ -		($834	)	$75,688

Schedule of Estimated Amortization Expense

Estimated amortization expense of intangibles for the years ending December 31, 2013 through 2017, is as follows:

		Annual amortization
Year		(in thousands)
2013		$231
2014		231
2015		231
2016		29
2017		29

Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2013

Financial Instruments [Abstract]

Schedule of Long-Term Debt

Long-term debt consists of:



(in thousands, except interest rates)	June 30, 2013			December 31, 2012

Convertible notes, par value $28,437, issued in March 2006 with fixed contractual interest rates of 2.25%, due in 2026, redeemed March 2013	$	-		$	28,261

Private placement with a fixed interest rate of 6.84%, due in 2013 through 2017		150,000			150,000

Credit agreement with borrowings outstanding at an end of period interest rate of 2.75% in 2013 and 3.92% in 2012, due in 2018		164,000			132,000

Various notes and mortgages relative to operations principally outside the United States, at an average end of period rate of 3.07% in 2013 and 3.06% in 2012, due in varying amounts through 2021		6,382			8,892

Long-term debt		320,382			319,153

Less: current portion		(55,014	)		(83,276	)

Long-term debt, net of current portion	$	265,368		$	235,877

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6479336&loc=d3e64711-112823

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=6584090&loc=d3e28878-108400

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28541-108399

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28551-108399

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21521-112644

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 22
-Article 5

+ Details

Fair-Value Measurements (Tables)

6 Months Ended

Jun. 30, 2013

Fair-Value Measurements [Abstract]

Schedule of Fair Value of Financial Assets and Liabilities

The following table presents the fair-value hierarchy for our financial assets and liabilities measured at fair value on a recurring basis:

	Total fair value			Quoted prices in active markets		Significant other observable inputs
(in thousands)				(Level 1)		(Level 2)
Fair Value at June 30, 2013
Assets:
Cash equivalents	$	30,586		$	30,586	$	-
Other assets:
Common stock of foreign public company		848			848		-
Interest rate swap		1,852			-		1,852
Liabilities:
Other noncurrent liabilities:
Interest rate swap		(3,699	)		-		(3,699	)


Fair Value at December 31, 2012
Assets:
Cash equivalents	$	33,171		$	33,171	$	-
Other assets:
Common stock of foreign public company		562			562		-
Interest rate swap		-			-		-
Liabilities:
Other noncurrent liabilities:
Interest rate swap		(4,718	)		-		(4,718	)

Schedule of (Losses)/Gains on Changes in Fair Value of Derivative Instruments

Gains/ (losses) related to changes in fair value of derivative instruments that were recognized in Other expense/(income), net in the Statement of Operations were as follows:

	Three months ended June 30,		Six months ended June 30,
(in thousands)	2013	2012	2013	2012

Derivatives not designated as hedging instruments
Forward exchange options	-	119	-	118

Contingencies (Tables)

6 Months Ended

Jun. 30, 2013

Schedule of Changes in Claims

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:

Year ended December 31,	Opening Number of Claims	Claims Dismissed, Settled, or Resolved	New Claims	Closing Number of Claims	Amounts Paid (thousands) to Settle or Resolve
2005	29,411	6,257	1,297	24,451	$ 504
2006	24,451	6,841	1,806	19,416	3,879
2007	19,416	808	190	18,798	15
2008	18,798	523	110	18,385	52
2009	18,385	9,482	42	8,945	88
2010	8,945	3,963	188	5,170	159
2011	5,170	789	65	4,446	1,111
2012	4,446	90	107	4,463	530
*2013 as of July 19*	*4,463*	*215*	47	*4,295*	*$ 3*

Brandon Drying Fabrics, Inc. [Member]

Schedule of Changes in Claims

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:

Year ended December 31,	Opening Number of Claims	Claims Dismissed, Settled, or Resolved	New Claims	Closing Number of Claims	Amounts Paid (thousands) to Settle or Resolve
2005	9,985	642	223	9,566	$ 0
2006	9,566	1,182	730	9,114	0
2007	9,114	462	88	8,740	0
2008	8,740	86	10	8,664	0
2009	8,664	760	3	7,907	0
2010	7,907	47	9	7,869	0
2011	7,869	3	11	7,877	0
2012	7,877	12	2	7,867	0
*2013 as of July 19*	*7,867*	54	2	*7,815*	*$ 0*

- Definition

Tabular disclosure of the loss contingencies that were reported in the period or disclosed as of the balance sheet date.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
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-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
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-Publisher FASB
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-Topic 450
-SubTopic 20
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-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=25496072&loc=d3e14615-108349

+ Details

Changes in Shareholders' Equity (Tables)

6 Months Ended

Jun. 30, 2013

Changes in Shareholders' Equity [Abstract]

Schedule of Activity in Shareholders' Equity

The following table summarizes changes in Stockholders' Equity:

(in thousands)	Class A Common Stock		Class B Common Stock		Additional paid in capital			Retained earnings			Accumulated items of other comprehensive income			Treasury stock			Total Shareholders' Equity
December 31, 2012		$37		$3		$395,381			$435,775			($80,021	)		($257,664	)		$493,511
Net income		-		-		-			4,132			-			-			4,132
Dividends declared		-		-		-			(9,171	)		-			-			(9,171	)
Compensation and benefits paid or payable in Class A Common Stock		-		-		(1,311	)		-			-			-			(1,311	)
Options exercised		-		-		3,492			-			-			-			3,492
Shares issued to Directors		-		-		44			-						93			137
Cumulative translation adjustment		-		-		-			-			(14,494	)		-			(14,494	)
Change in pension liability adjustment		-		-		-			-			2,229			-			2,229
Change in derivative valuation adjustment		-		-		-			-			1,752			-			1,752
June 30, 2013		$37		$3		$397,606			$430,736			($90,534	)		($257,571	)		$480,277

Discontinued Operations (Narrative) (Details) - USD ($) $ in Thousands		1 Months Ended	2 Months Ended	3 Months Ended		6 Months Ended		12 Months Ended
	Jan. 11, 2012	Mar. 31, 2012	Jun. 29, 2012	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012	Dec. 31, 2012
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain on sale of discontinued business					$ 34,709		$ 92,677
Albany Door Systems [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of business	$ 130,000							$ 122,000
Adjustments to the sale transaction		$ 5,000
PrimaLoft Products [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of business			$ 38,000
Gain on sale of discontinued business					$ 34,900
Other accruals				600		600
Cash held in escrow				$ 3,800		$ 3,800

Discontinued Operations (Schedule of Operating Results) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Discontinued Operations [Abstract]
Net sales	$ 0	$ 10,283	$ 0	$ 19,774
(Loss)/Income from operations of discontinued business before tax	(575)	2,760	(575)	4,776
Gain on disposition of discontinued operations		34,709		92,677
Income tax (benefit)/expense	$ (224)	$ 13,439	$ (224)	$ 26,253

Reportable Segments (Schedule of Financial Data by Reporting Segment) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Segment Reporting Information [Line Items]
Net sales	$ 197,974	$ 191,940	$ 384,628	$ 372,017
Operating income/(loss)	(3,513)	(86,004)	19,005	(86,913)
Other expense/ (income), net	2,211	(2,555)	2,945	1,993
(Loss)/income before income taxes	(9,271)	(87,418)	8,488	(97,519)
Operating Segments [Member] \| Machine Clothing [Member]
Segment Reporting Information [Line Items]
Net sales	177,536	177,122	344,946	341,410
Operating income/(loss)	20,699	44,997	63,607	75,842
Operating Segments [Member] \| Engineered Composites [Member]
Segment Reporting Information [Line Items]
Net sales	20,438	14,818	39,682	30,607
Operating income/(loss)	(1,825)	(369)	(3,888)	(340)
Research Expense [Member]
Segment Reporting Information [Line Items]
Operating income/(loss)	(7,673)	(7,253)	(14,664)	(13,318)
Unallocated Expenses [Member]
Segment Reporting Information [Line Items]
Operating income/(loss)	(14,714)	(123,379)	(26,050)	(149,097)
Segment Reconciling Items [Member]
Segment Reporting Information [Line Items]
Interest income	(300)	(522)	(600)	(606)
Interest expense	3,847	4,491	8,172	9,219
Other expense/ (income), net	$ 2,211	$ (2,555)	$ 2,945	$ 1,993

Reportable Segments (Schedule of Restructuring Costs by Reporting Segment) (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2013 USD ($)	Jun. 30, 2012 USD ($)	Jun. 30, 2013 USD ($) employees	Jun. 30, 2012 USD ($)
Pension settlement
Pension settlement expense		$ 110,560		$ 119,735
Restructuring expense
Restructuring expense	24,321	3,152	$ 24,957	3,410
Reduction in employees \| employees			200
Operating Segments [Member] \| Machine Clothing [Member]
Restructuring expense
Restructuring expense	24,230	2,903	$ 24,423	3,576
Operating Segments [Member] \| Engineered Composites [Member]
Restructuring expense
Restructuring expense	91		534
Unallocated Expenses [Member]
Pension settlement
Pension settlement expense	0	110,560	0	119,735
Restructuring expense
Restructuring expense		$ 249		$ (166)

Pensions and Other Postretirement Benefit Plans (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Mar. 31, 2012	Jun. 30, 2013	Jun. 30, 2012
Defined Benefit Plan Disclosure [Line Items]
Settlement		$ 110,560			$ 119,735
Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost				1,684	1,699
Interest cost				4,000	7,589
Expected return on assets				(4,068)	(7,184)
Amortization of prior service cost/(credit)				17	17
Amortization of transition obligation				34	37
Amortization of net actuarial loss				1,571	2,839
Settlement					119,735
Net periodic benefit cost				3,238	124,732
Other Postretirement Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost				571	536
Interest cost				1,604	1,844
Expected return on assets
Amortization of prior service cost/(credit)				(1,834)
Amortization of transition obligation					(1,834)
Amortization of net actuarial loss				1,757	1,608
Settlement
Net periodic benefit cost				$ 2,098	$ 2,154
Sweden Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Settlement			$ 9,200
US and Canada Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Settlement		$ 110,600

Restructuring (Narrative) (Details) $ in Millions	6 Months Ended
Restructuring (Narrative) (Details) $ in Millions	Jun. 30, 2013 USD ($) employees
Restructuring Cost and Reserve [Line Items]
Reduction in employees \| employees	200
Effect of cost savings	$ 10
Minimum [Member]
Restructuring Cost and Reserve [Line Items]
Expected costs	6
Maximum [Member]
Restructuring Cost and Reserve [Line Items]
Expected costs	$ 8

Restructuring (Schedule of Restructuring Charges) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Restructuring and other, net
Restructuring and other, net	$ 24,321	$ 3,152	$ 24,957	$ 3,410
Termination and Other Costs [Member]
Restructuring and other, net
Restructuring and other, net			25,033	3,956
Impairment of Plant and Equipment [Member]
Restructuring and other, net
Restructuring and other, net			88	(546)
Benefit Plan Curtailment/ Settlement [Member]
Restructuring and other, net
Restructuring and other, net			(164)
Operating Segments [Member] \| Machine Clothing [Member]
Restructuring and other, net
Restructuring and other, net	24,230	2,903	24,423	3,576
Operating Segments [Member] \| Machine Clothing [Member] \| Termination and Other Costs [Member]
Restructuring and other, net
Restructuring and other, net			24,587	3,576
Operating Segments [Member] \| Machine Clothing [Member] \| Impairment of Plant and Equipment [Member]
Restructuring and other, net
Restructuring and other, net
Operating Segments [Member] \| Machine Clothing [Member] \| Benefit Plan Curtailment/ Settlement [Member]
Restructuring and other, net
Restructuring and other, net			(164)
Operating Segments [Member] \| Engineered Composites [Member]
Restructuring and other, net
Restructuring and other, net	91		534
Operating Segments [Member] \| Engineered Composites [Member] \| Termination and Other Costs [Member]
Restructuring and other, net
Restructuring and other, net			446
Operating Segments [Member] \| Engineered Composites [Member] \| Impairment of Plant and Equipment [Member]
Restructuring and other, net
Restructuring and other, net			88
Operating Segments [Member] \| Engineered Composites [Member] \| Benefit Plan Curtailment/ Settlement [Member]
Restructuring and other, net
Restructuring and other, net
Unallocated Expenses [Member]
Restructuring and other, net
Restructuring and other, net		$ 249		(166)
Unallocated Expenses [Member] \| Termination and Other Costs [Member]
Restructuring and other, net
Restructuring and other, net				380
Unallocated Expenses [Member] \| Impairment of Plant and Equipment [Member]
Restructuring and other, net
Restructuring and other, net				(546)
Unallocated Expenses [Member] \| Benefit Plan Curtailment/ Settlement [Member]
Restructuring and other, net
Restructuring and other, net

Restructuring (Schedule of Restructuring Liability) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012
Restructuring Reserve [Roll Forward]
Beginning balance	$ 4,947	$ 6,979
Restructuring charges accrued	24,869	3,830
Payments	(2,576)	(2,778)
Currency translation/other	(269)	(243)
Ending balance	$ 26,971	$ 7,788

Other Expense/(Income), net (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Other Expense/(Income), net [Abstract]
Currency transactions	$ 1,894	$ (3,133)	$ 1,903	$ 699
Bank fees and amortization of debt issuance costs	377	533	998	1,209
Letter of credit fees		351		770
Other	(60)	(306)	44	(685)
Total	$ 2,211	$ (2,555)	$ 2,945	$ 1,993

Income Taxes (Schedule of Components of Income Tax Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Income Taxes [Abstract]
Income tax based on income from continuing operations, at estimated tax rates of 39.0% and 26.5%, respectively	$ (3,616)	$ 6,133	$ 3,310	$ 5,896
Pension plan settlement		(37,047)		(39,460)
Tax rate adjustment on pension plan settlement		886
Provision for change in estimated tax rates	888	(297)
Income tax before discrete items	(2,728)	(30,325)	3,310	(33,564)
Provision for/resolution of tax audits and contingencies, net	425	682	425	(6,051)
Repatriation of non-U.S. prior year earnings	186		186
Adjustments to prior period tax liabilities	(126)		84
Total income tax expense/(benefit)	$ (2,243)	$ (29,643)	$ 4,005	$ (39,615)
Estimated tax rate	39.00%	26.50%	39.00%	26.50%

Income Taxes (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
Income Taxes (Narrative) (Details) - USD ($) $ in Millions	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012	Dec. 31, 2012
Income Tax Disclosure [Line Items]
Estimated tax rate	39.00%	26.50%	39.00%	26.50%
Unrepatriated foreign earnings	$ 0.9		$ 0.9
Non-U.S. earnings that have been targeted for future repatriation	12.4		12.4
Estimated range of change, upper bound	0.0		0.0
Estimated range of change, lower bound	(2.5)		$ (2.5)
Minimum [Member]
Income Tax Disclosure [Line Items]
Open tax years			2000
Maximum [Member]
Income Tax Disclosure [Line Items]
Open tax years			2012
German Tax Authority [Member]
Income Tax Disclosure [Line Items]
Unrecognized tax benefits	22.7		$ 22.7
Amounts of tax benefits that would affect effective tax rate if recognized	$ 11.6		$ 11.6
Payment to taxing authority to pursue litigation					$ 13.0

Earnings Per Share (Schedule Computing Earnings Per Share and Weighted Average Number of Shares) Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Earnings Per Share [Abstract]
Net income/(loss) available to common shareholders	$ (7,379)	$ (33,745)	$ 4,132	$ 13,296
Weighted average number of shares used in calculating basic net income/(loss) per share	31,628	31,349	31,562	31,329
Stock options			125	69
Long-term incentive plan			169	120
Weighted average number of shares used in calculating diluted net income/(loss) per share	31,628	31,349	31,856	31,518
Average market price of common stock used for calculation of dilutive shares	$ 30.59	$ 20.22	$ 28.53	$ 22.08
Basic	(0.23)	(1.08)	0.13	0.42
Diluted	$ (0.23)	$ (1.08)	$ 0.13	$ 0.42

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References + Details

Earnings Per Share (Schedule of Shares Issued and Outstanding) (Details) - shares	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2012	Jun. 30, 2012
Class of Stock [Line Items]
Less: Treasury Shares	(8,463,635)	(8,467,873)	(8,467,873)	(8,467,873)
Net shares Outstanding	31,647,590	31,595,452		31,357,529
Common Class A [Member]
Class of Stock [Line Items]
Common Stock, shares issued	36,875,127	36,827,227	36,642,204	36,589,304
Common Class B [Member]
Class of Stock [Line Items]
Common Stock, shares issued	3,236,098	3,236,098	3,236,098	3,236,098
Net shares Outstanding	3,236,098		3,236,098

Accumulated Other Comprehensive Income (Schedule of Accumulated Other Comprehensive Income) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2013 USD ($)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	$ (80,021)
Other comprehensive income before reclassifications	(10,968)
Interest expense related to swaps reclassified to the Statement of Operations, net of tax	(549)
Pension and postretirement liability adjustments reclassified to Statement of Operations, net of tax	1,004
Net current period other comprehensive income	(10,513)
Ending balance	(90,534)
Translation Adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(7,659)
Other comprehensive income before reclassifications	(14,494)
Interest expense related to swaps reclassified to the Statement of Operations, net of tax
Pension and postretirement liability adjustments reclassified to Statement of Operations, net of tax
Net current period other comprehensive income	(14,494)
Ending balance	(22,153)
Pension and Postretirement Liability Adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(69,484)
Other comprehensive income before reclassifications	1,225
Interest expense related to swaps reclassified to the Statement of Operations, net of tax
Pension and postretirement liability adjustments reclassified to Statement of Operations, net of tax	1,004
Net current period other comprehensive income	2,229
Ending balance	(67,255)
Derivative Valuation Adjustment [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(2,878)
Other comprehensive income before reclassifications	2,301
Interest expense related to swaps reclassified to the Statement of Operations, net of tax	(549)
Pension and postretirement liability adjustments reclassified to Statement of Operations, net of tax
Net current period other comprehensive income	1,752
Ending balance	$ (1,126)

- Definition

Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.

+ References + Details

Accumulated Other Comprehensive Income (Schedule of Items Reclassified to Statement of Income) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Amortization of prior service cost/(credit)	$ 909	$ 909	$ 1,817	$ 1,817
Amortization of transition obligation	(17)	(18)	(34)	(37)
Amortization of net actuarial loss	(1,664)	(1,870)	(3,328)	(4,447)
Total pretax amount reclassified	9,271	87,418	(8,488)	97,519
Income tax effect	(2,243)	(29,643)	4,005	(39,615)
Effect on net income due to items reclassified from Accumulated Other Comprehensive Income	7,379	$ 33,745	(4,132)	$ (13,296)
Derivative Valuation Adjustment [Member] \| Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Swap interest expense	(500)		(900)
Income tax effect	(195)		(351)
Effect on net income due to items reclassified from Accumulated Other Comprehensive Income	(305)		(549)
Pension and Postretirement Liability Adjustments [Member] \| Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Amortization of prior service cost/(credit)	(908)		(1,817)
Amortization of transition obligation	17		34
Amortization of net actuarial loss	1,664		3,328
Total pretax amount reclassified	773		1,545
Income tax effect	(270)		(541)
Effect on net income due to items reclassified from Accumulated Other Comprehensive Income	$ 503		$ 1,004

Accounts Receivable (Details) - USD ($) $ in Thousands	Jun. 30, 2013	Dec. 31, 2012
Accounts Receivable [Abstract]
Trade accounts receivable	$ 154,279	$ 149,737
Revenue in excess of progress billings	15,688	17,105
Receivables related to the sale of discontinued businesses	16,795	16,555
Less: allowance for doubtful accounts	(11,881)	(11,862)
Total Accounts receivable, net	$ 174,881	$ 171,535

Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2013	Dec. 31, 2012
Inventories [Abstract]
Finished goods	$ 48,698	$ 49,235
Work in process	42,871	44,866
Raw material and supplies	25,874	25,082
Total inventories	$ 117,443	$ 119,183

Goodwill and Other Intangible Assets (Schedule of Changes in Intangible Assets and Goodwill) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2013 USD ($)
Amortized intangible assets:
Beginning balance	$ 848
Amortization	(115)
Currency Translation
Ending balance	733
Goodwill
Beginning balance	76,522
Amortization
Currency translation	(834)
Ending balance	75,688
Machine Clothing [Member]
Goodwill
Ending balance	75,700
AEC Trade Names [Member]
Amortized intangible assets:
Beginning balance	38
Amortization	(2)
Currency Translation
Ending balance	36
AEC Customer Contracts [Member]
Amortized intangible assets:
Beginning balance	606
Amortization	(101)
Currency Translation
Ending balance	505
AEC Technology [Member]
Amortized intangible assets:
Beginning balance	204
Amortization	(12)
Currency Translation
Ending balance	$ 192

Goodwill and Other Intangible Assets (Schedule of Estimated Amortization Expense) (Details) $ in Thousands	Jun. 30, 2013 USD ($)
Goodwill and Other Intangible Assets [Abstract]
2013	$ 231
2014	231
2015	231
2016	29
2017	$ 29

Financial Instruments (Schedule of Long-Term Debt) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2013	Dec. 31, 2012
Debt Instrument [Line Items]
Long-term debt	$ 320,382	$ 319,153
Less: current portion	(55,014)	(83,276)
Long-term debt, net of current portion	265,368	235,877
Convertible Notes [Member]
Debt Instrument [Line Items]
Long-term debt		28,261
Debt issued	$ 28,437
Interest rate	2.25%
Year of maturity	2026
Private Placement, Notes [Member]
Debt Instrument [Line Items]
Long-term debt	$ 150,000	150,000
Debt issued	$ 150,000
Interest rate	6.84%
Maturity date	Oct. 25, 2017
Maturity date range, start	Jan. 01, 2013
Maturity date range, end	Dec. 31, 2017
Credit Agreement [Member]
Debt Instrument [Line Items]
Long-term debt	$ 164,000	$ 132,000
Interest rate at end of period	2.75%	3.92%
Year of maturity	2018
Various Notes and Mortgages [Member]
Debt Instrument [Line Items]
Long-term debt	$ 6,382	$ 8,892
Interest rate at end of period	3.07%	3.06%
Maturity date range, end	Dec. 31, 2021

Financial Instruments (Narrative) (Details) $ in Thousands, shares in Millions					6 Months Ended
	Jun. 28, 2013	Jun. 24, 2013	Apr. 16, 2013	Mar. 15, 2013 USD ($)	Jun. 30, 2013 USD ($) $ / warrants shares	May 20, 2013 USD ($)	Dec. 31, 2010 USD ($)	Jul. 16, 2010 USD ($)
Debt Instrument [Line Items]
Maximum leverage ratio allowed					3.50
Minimum interest coverage ratio required					3.00
Leverage ratio					1.75
Interest coverage ratio					8.57
Private Placement, Notes [Member]
Debt Instrument [Line Items]
Debt issued					$ 150,000
Interest rate					6.84%
Maturity date					Oct. 25, 2017
Payment required on October 25, 2013					$ 50,000
Payment required on October 25, 2015					50,000
Fair value of long-term debt					$ 168,500
Credit Agreement [Member]
Debt Instrument [Line Items]
Year of maturity					2018
Amount of credit facility					$ 330,000		$ 390,000
Amount of credit facility outstanding					164,000
Additional amount that can be borrowed on facility					$ 166,000
LIBOR spread		1.375%
Credit Agreement [Member] \| Minimum [Member]
Debt Instrument [Line Items]
LIBOR spread					1.25%
Credit Agreement [Member] \| Maximum [Member]
Debt Instrument [Line Items]
LIBOR spread					1.875%
Credit Agreement [Member] \| Interest Rate Swap [Member]
Debt Instrument [Line Items]
Notional amount					$ 105,000	$ 110,000		$ 105,000
Fixed interest rate in swap						1.414%		2.04%
LIBOR spread	0.19%		0.28%
Effective annual rate					3.415%
Convertible Notes [Member]
Debt Instrument [Line Items]
Debt issued					$ 28,437
Interest rate					2.25%
Year of maturity					2026
Percentage of principal redeemed				100.00%
Cash paid to redeem convertible senior notes				$ 28,400
Number of warrants sold \| shares					4.1
Strike price of warrants \| $ / warrants					52.25
Date warrants can be exercised					Jun. 15, 2013
Final expiration date					Sep. 10, 2013
Notes hedge and warrant transactions, net cost					$ 14,700

Fair-Value Measurements (Schedule of Fair Value of Financial Assets and Liabilities) (Details) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands	Jun. 30, 2013	Dec. 31, 2012
Assets:
Cash equivalents	$ 30,586	$ 33,171
Common stock of foreign public company	848	562
Interest rate swap	1,852
Liabilities:
Interest rate swap	(3,699)	(4,718)
Quoted Prices in Active Markets (Level 1) [Member]
Assets:
Cash equivalents	30,586	33,171
Common stock of foreign public company	848	562
Interest rate swap
Liabilities:
Interest rate swap
Significant Other Observable Inputs (Level 2) [Member]
Assets:
Cash equivalents
Common stock of foreign public company
Interest rate swap	1,852
Liabilities:
Interest rate swap	$ (3,699)	$ (4,718)

Fair-Value Measurements (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Foreign Exchange Options [Member] \| Not Designated as Hedging Instrument [Member]
Derivative [Line Items]
(Losses)/gains recognized in income, net		$ 119		$ 118
Interest Rate Swap [Member]
Derivative asset:
Derivative asset	1,900		1,900
Liability for floating rate leg	4,100		4,100
Receivable for fixed rate leg	5,900		5,900
Derivative liability:
Derivative liability	3,700		3,700
Liability for fixed rate leg	4,900		4,900
Receivable for floating rate leg	$ 1,200		1,200
Interest expense			$ 900	$ 800

Fair-Value Measurements (Schedule of (Losses)/Gains on Changes in Fair Value of Derivative Instruments) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Foreign Exchange Options [Member] \| Not Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
(Losses)/gains recognized in income, net		$ 119		$ 118

Contingencies (Narrative) (Details) $ in Millions	Jul. 19, 2013 USD ($) claims	Jun. 30, 2013 audits	Dec. 31, 2012 claims	Dec. 31, 2011 claims	Dec. 31, 2010 claims	Dec. 31, 2009 claims	Dec. 31, 2008 claims	Dec. 31, 2007 claims	Dec. 31, 2006 claims	Dec. 31, 2005 claims	Dec. 31, 2004 claims	Dec. 31, 2003
Asbestos Litigation [Member]
Loss Contingencies [Line Items]
Number of claims	4,295		4,463	4,446	5,170	8,945	18,385	18,798	19,416	24,451	29,411
Total resolved claims, by means of settlement or dismissal	36,585
Total cost of resolution \| $	$ 8.6
Resolution costs paid by insurance carrier	100.00%
Confirmed insurance coverage \| $	$ 125.0
Asbestos Litigation [Member] \| Brandon Drying Fabrics, Inc. [Member]
Loss Contingencies [Line Items]
Number of claims	7,815		7,867	7,877	7,869	7,907	8,664	8,740	9,114	9,566	9,985
Total resolved claims, by means of settlement or dismissal	9,787
Total cost of resolution \| $	$ 0.2
Resolution costs paid by insurance carrier	100.00%											88.20%
Percent of resolution costs paid by entity												11.80%
NAFTA Audits [Member]
Loss Contingencies [Line Items]
Number of audits \| audits		36

Contingencies (Schedule of Changes in Claims) (Details) - Asbestos Litigation [Member] $ in Thousands	7 Months Ended	12 Months Ended
	Jul. 19, 2013 USD ($) claims	Dec. 31, 2012 USD ($) claims	Dec. 31, 2011 USD ($) claims	Dec. 31, 2010 USD ($) claims	Dec. 31, 2009 USD ($) claims	Dec. 31, 2008 USD ($) claims	Dec. 31, 2007 USD ($) claims	Dec. 31, 2006 USD ($) claims	Dec. 31, 2005 USD ($) claims
Loss Contingencies [Line Items]
Opening Number of Claims	4,463	4,446	5,170	8,945	18,385	18,798	19,416	24,451	29,411
Claims Dismissed, Settled, or Resolved	215	90	789	3,963	9,482	523	808	6,841	6,257
New Claims	47	107	65	188	42	110	190	1,806	1,297
Closing Number of Claims	4,295	4,463	4,446	5,170	8,945	18,385	18,798	19,416	24,451
Amounts Paid (thousands) to Settle or Resolve ($) \| $	$ 3	$ 530	$ 1,111	$ 159	$ 88	$ 52	$ 15	$ 3,879	$ 504
Brandon Drying Fabrics, Inc. [Member]
Loss Contingencies [Line Items]
Opening Number of Claims	7,867	7,877	7,869	7,907	8,664	8,740	9,114	9,566	9,985
Claims Dismissed, Settled, or Resolved	54	12	3	47	760	86	462	1,182	642
New Claims	2	2	11	9	3	10	88	730	223
Closing Number of Claims	7,815	7,867	7,877	7,869	7,907	8,664	8,740	9,114	9,566
Amounts Paid (thousands) to Settle or Resolve ($) \| $	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0

Changes in Shareholders' Equity (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Balance			$ 493,511
Net income/(loss)	$ (7,379)	$ (33,745)	4,132	$ 13,296
Dividends declared			(9,171)
Compensation and benefits paid or payable in Class A Common Stock			(1,311)
Options exercised			3,492
Shares issued to Directors			137
Cumulative translation adjustment			(14,494)
Change in pension liability adjustment			2,229
Change in derivative valuation adjustment			1,752
Balance	480,277		480,277
Common Stock [Member] \| Common Class A [Member]
Balance			37
Net income/(loss)
Dividends declared
Compensation and benefits paid or payable in Class A Common Stock
Options exercised
Shares issued to Directors
Cumulative translation adjustment
Change in pension liability adjustment
Change in derivative valuation adjustment
Balance	37		37
Common Stock [Member] \| Common Class B [Member]
Balance			3
Net income/(loss)
Dividends declared
Compensation and benefits paid or payable in Class A Common Stock
Options exercised
Shares issued to Directors
Cumulative translation adjustment
Change in pension liability adjustment
Change in derivative valuation adjustment
Balance	3		3
Additional Paid-in Capital [Member]
Balance			395,381
Net income/(loss)
Dividends declared
Compensation and benefits paid or payable in Class A Common Stock			(1,311)
Options exercised			3,492
Shares issued to Directors			44
Cumulative translation adjustment
Change in pension liability adjustment
Change in derivative valuation adjustment
Balance	397,606		397,606
Retained Earnings [Member]
Balance			435,775
Net income/(loss)			4,132
Dividends declared			(9,171)
Compensation and benefits paid or payable in Class A Common Stock
Options exercised
Shares issued to Directors
Cumulative translation adjustment
Change in pension liability adjustment
Change in derivative valuation adjustment
Balance	430,736		430,736
Accumulated Items of Other Comprehensive Income [Member]
Balance			(80,021)
Net income/(loss)
Dividends declared
Compensation and benefits paid or payable in Class A Common Stock
Options exercised
Shares issued to Directors
Cumulative translation adjustment			(14,494)
Change in pension liability adjustment			2,229
Change in derivative valuation adjustment			1,752
Balance	(90,534)		(90,534)
Treasury Stock [Member]
Balance			(257,664)
Net income/(loss)
Dividends declared
Compensation and benefits paid or payable in Class A Common Stock
Options exercised
Shares issued to Directors			93
Cumulative translation adjustment
Change in pension liability adjustment
Change in derivative valuation adjustment
Balance	$ (257,571)		$ (257,571)