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Document and Entity Information - shares shares in Millions	6 Months Ended
Document and Entity Information - shares shares in Millions	Jun. 30, 2016	Jul. 31, 2016
Entity Registrant Name	ALBANY INTERNATIONAL CORP /DE/
Entity Central Index Key	0000819793
Document Type	10-Q
Document Period End Date	Jun. 30, 2016
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2016
Common Class A [Member]
Entity Common Stock, Shares Outstanding		28.9
Common Class B [Member]
Entity Common Stock, Shares Outstanding		3.2

CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Income Statement [Abstract]
Net sales	$ 203,190	$ 172,289	$ 375,521	$ 353,613
Cost of goods sold	124,875	117,697	224,705	222,337
Gross profit	78,315	54,592	150,816	131,276
Selling, general and administrative expenses	43,534	39,932	82,955	75,165
Technical, product engineering, and research expenses	10,276	10,411	20,408	22,712
Restructuring expenses, net	6,648	1,211	7,327	10,212
Operating income	17,857	3,038	40,126	23,187
Interest expense, net	3,691	2,702	5,929	5,378
Other (income)/expense, net	(2,017)	2,820	(2,345)	(465)
Income/(loss) before income taxes	16,183	(2,484)	36,542	18,274
Income tax expense/(benefit)	6,082	(364)	13,125	8,155
Net income/(loss)	10,101	(2,120)	23,417	10,119
Net (loss)/income attributable to the noncontrolling interest	(266)	52	(451)	78
Net income/(loss) attributable to the Company	$ 10,367	$ (2,172)	$ 23,868	$ 10,041
Earnings/(loss) per share attributable to Company shareholders - Basic	$ 0.32	$ (0.07)	$ 0.74	$ 0.31
Earnings/(loss) per share attributable to Company shareholders - Diluted	$ 0.32	$ (0.07)	$ 0.74	$ 0.31
Shares of the Company used in computing earnings per share:
Basic	32,093	31,999	32,067	31,941
Diluted	32,131	31,999	32,106	32,015
Dividends per share, Class A and Class B	$ 0.17	$ 0.17	$ 0.34	$ 0.33

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME/(LOSS) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Statement of Comprehensive Income [Abstract]
Net income/(loss)	$ 10,101	$ (2,120)	$ 23,417	$ 10,119
Other comprehensive income/(loss), before tax:
Foreign currency translation adjustments	(10,126)	10,785	2,615	(24,898)
Pension/postretirement plan remeasurement			(170)
Amortization of pension liability adjustments:
Prior service credit	(1,112)	(1,111)	(2,225)	(2,220)
Net actuarial loss	1,296	1,461	2,574	2,966
Payments related to derivatives included in earnings	305	467	586	953
Derivative valuation adjustment	(4,581)	(113)	(7,433)	(1,220)
Income taxes related to items of other comprehensive income/(loss):
Pension/postretirement plan remeasurement			65
Amortization of pension liability adjustment	(56)	(122)	(105)	(261)
Payments related to derivatives included in earnings	(116)	(182)	(223)	(372)
Derivative valuation adjustment	1,741	44	2,825	476
Comprehensive income/(loss)	(2,548)	9,109	21,926	(14,457)
Comprehensive (loss)/income attributable to the noncontrolling interest	(264)	52	(452)	79
Comprehensive income/(loss) attributable to the Company	$ (2,284)	$ 9,057	$ 22,378	$ (14,536)

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 176,025	$ 185,113
Accounts receivable, net	176,336	146,383
Inventories	145,371	106,406
Income taxes prepaid and receivable	1,230	2,927
Asset held for sale	5,078	4,988
Prepaid expenses and other current assets	9,582	6,243
Total current assets	513,622	452,060
Property, plant and equipment, net	440,175	357,470
Intangibles, net	58,325	154
Goodwill	98,566	66,373
Income taxes receivable and deferred	110,263	108,945
Other assets	28,379	24,560
Total assets	1,249,330	1,009,562
Current liabilities:
Notes and loans payable	531	587
Accounts payable	40,608	26,753
Accrued liabilities	87,388	91,785
Current maturities of long-term debt	566	16
Income taxes payable	7,078	7,090
Total current liabilities	136,171	126,231
Long-term debt	485,215	265,080
Other noncurrent liabilities	99,590	101,544
Deferred taxes and other liabilities	12,760	14,154
Total liabilities	733,736	507,009
SHAREHOLDERS' EQUITY
Preferred stock, par value $5.00 per share; authorized 2,000,000 shares; none issued
Additional paid in capital	424,921	423,108
Retained earnings	504,907	491,950
Accumulated items of other comprehensive income:
Translation adjustments	(106,262)	(108,655)
Pension and postretirement liability adjustments	(48,364)	(48,725)
Derivative valuation adjustment	(5,709)	(1,464)
Treasury stock (Class A), at cost 8,445,342 shares in 2016 and 8,455,293 shares in 2015	(257,177)	(257,391)
Total Company shareholders' equity	512,356	498,863
Noncontrolling interest	3,238	3,690
Total equity	515,594	502,553
Total liabilities and shareholders' equity	1,249,330	1,009,562
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, 2016	Dec. 31, 2015
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
Treasury stock, shares	8,445,342	8,455,293
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	37,311,733	37,238,913
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	3,235,048	3,235,048
Common Stock, shares outstanding	3,235,048	3,235,048

CONSOLIDATED STATEMENTS OF CASH FLOW - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
OPERATING ACTIVITIES
Net income/(loss)	$ 10,101	$ (2,120)	$ 23,417	$ 10,119
Adjustments to reconcile net income/(loss) to net cash provided by operating activities:
Depreciation	15,142	13,373	28,266	26,897
Amortization	2,817	1,811	4,513	3,641
Change in other noncurrent liabilities	(3,371)	8	(6,007)	(1,544)
Change in deferred taxes and other liabilities	(1,457)	(5,928)	1,072	(4,653)
Provision for write-off of property, plant and equipment	484	263	1,076	415
Gain on disposition of assets				(1,056)
Excess tax benefit of options exercised	(39)	(342)	(105)	(603)
Compensation and benefits paid or payable in Class A Common Stock	668	419	1,532	995
Changes in operating assets and liabilities that provide/(use) cash, net of impact of business acquisition:
Accounts receivable	(10,384)	4,212	(11,286)	(9,487)
Inventories	(6,027)	(4,061)	(7,375)	(7,131)
Prepaid expenses and other current assets	2,561	1,715	(2,821)	(990)
Income taxes prepaid and receivable	3,732	(158)	1,837	(74)
Accounts payable	1,267	(4,853)	2,899	(1,341)
Accrued liabilities	689	(933)	(8,154)	(2,520)
Income taxes payable	2,903	475	(933)	77
Other, net	(477)	7,062	(5,278)	4,607
Net cash provided by operating activities	18,609	10,943	22,653	17,352
INVESTING ACTIVITIES
Purchase of business, net of cash acquired	(187,000)		(187,000)
Purchases of property, plant and equipment	(20,112)	(18,455)	(28,105)	(30,666)
Purchased software	(589)	(304)	(671)	(337)
Proceeds from sale or involuntary conversion of assets	1,736		1,736	2,797
Net cash used in investing activities	(205,965)	(18,759)	(214,040)	(28,206)
FINANCING ACTIVITIES
Proceeds from borrowings	207,134	24,346	219,530	39,620
Principal payments on debt	(426)	(4,303)	(22,824)	(9,746)
Debt acquisition costs	(1,571)	(1,630)	(1,771)	(1,630)
Swap termination payment	(5,175)		(5,175)
Proceeds from options exercised	185	1,039	390	1,724
Excess tax benefit of options exercised	39	342	105	603
Dividends paid	(5,454)	(5,107)	(10,897)	(10,205)
Net cash provided by financing activities	194,732	14,687	179,358	20,366
Effect of exchange rate changes on cash and cash equivalents	(966)	4,765	2,941	(6,840)
Increase/(decrease) in cash and cash equivalents	6,410	11,636	(9,088)	2,672
Cash and cash equivalents at beginning of period	169,615	170,838	185,113	179,802
Cash and cash equivalents at end of period	$ 176,025	$ 182,474	$ 176,025	$ 182,474

Significant Accounting Policies

6 Months Ended

Jun. 30, 2016

Accounting Policies [Abstract]

Significant Accounting Policies

1. Significant Accounting Policies

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. (“Albany”) consolidates the financial results of its subsidiaries for all periods presented. The results for any interim period are not necessarily indicative of results for the full year.

The preparation of financial statements in accordance with U.S. generally accepted accounting principles (“GAAP”) requires management to make estimates and assumptions that affect the amounts reported in Albany International Corp.’s Consolidated Financial Statements and accompanying Notes. Actual results could differ materially from those estimates.

The information included in this Quarterly Report on Form 10-Q should be read in conjunction with “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 year ended December 31, 2015.

Except as described herein, there has been no material change to the accounting policies applied to our consolidated results and footnote disclosures. In accordance with the accounting guidance for business combinations, we use the acquisition method of accounting to allocate costs of acquired businesses to the assets acquired and liabilities assumed based on their estimated fair values at the dates of acquisition. The excess costs of acquired businesses over the fair values of the assets acquired and liabilities assumed are recognized as goodwill. The valuations of acquired assets and liabilities will impact the determination of future operating results. In addition to using management estimates and negotiated amounts, we use a variety of information sources to determine the estimated fair values of the assets and liabilities, including third-party appraisals for the estimated value and lives of identifiable intangible assets and property and equipment. The business and technical judgment of management is used in determining the useful lives of finite-lived intangible assets in accordance with the accounting guidance for goodwill and intangible assets.

Business Acquisition

6 Months Ended

Jun. 30, 2016

Business Combinations [Abstract]

Business Acquisition

2. Business Acquisition

On April 8, 2016, the Company acquired the outstanding shares of Harris Corporation’s composite aerostructures business for cash of $187 million, plus the assumption of certain liabilities. The Company funded the cash payable at closing by utilizing proceeds from a $550 million, unsecured credit facility agreement that was completed April 8, 2016 (see Note 14). The seller has provided representations, warranties and indemnities customary for acquisition transactions, including indemnities for certain customer claims identified before closing. The acquired entity has been renamed Albany Aerostructures Composites LLC (“AAC”), and is part of the Albany Engineered Composites (“AEC”) segment.

The following table summarizes the provisional allocation of the purchase price of AAC to the fair value of the assets and liabilities acquired:

(in thousands)		April 8 , 2016
Assets acquired
Accounts receivable		$16,264
Inventories		29,739
Prepaid expenses and other current assets		402
Property, plant and equipment		85,802
Intangibles		59,360
Goodwill		31,327
Total assets acquired		$222,894

Liabilities assumed
Accounts payable		$8,745
Accrued liabilities		2,364
Capital lease obligation		23,815
Other noncurrent liabilities		970
Total liabilities assumed		$35,894

Net assets acquired		$187,000

Whereas the acquisition occurred during this quarterly reporting period, the Company is continuing to perform procedures to verify the value of all assets and liabilities acquired, and the useful lives of amortizable assets. Accordingly, adjustments to the values in the above table may be required in future periods. The Company has attributed the goodwill of $31.3 million which is assigned to the AEC segment. Management believes that the acquisition broadens and deepens AEC’s products, experience and manufacturing capabilities, and significantly increases opportunities for future growth. The goodwill is expected to be non-deductible for tax purposes.

The following tables presents operational results of AAC that are included in the Consolidated Statements of Income:

(in thousands, except per share amounts)		April 8 to June 30, 2016
Net sales		$25,636
Operating income		1,709
Income before income taxes		1,266
Net Income attributable to the Company		760

Earnings per share:
Basic		$0.02
Diluted		$0.02

The Consolidated Statements of Income reflect operational activity of AAC for only the period subsequent to the closing, which affects comparability of results. The following table shows total Company pro forma statements of operations for the three- and six-month periods ended June 30, 2016 and 2015, as if the acquisition had occurred on January 1, 2015. This pro forma information does not purport to represent what the Company’s actual results would have been if the acquisitions had occurred as of the date indicated, or what such results would be for any future periods.

	Unaudited - Pro forma
	Three months ended June 30,				Six months ended June 30,
(in thousands, except per share amounts)	2016		2015		2016		2015

Combined Net sales	$204,371		$192,508		$397,706		$392,988

Combined Income/(loss) before income taxes	$15,765		($1,798	)	$38,915		$19,357

Pro forma adjustments:
Acquisition expenses	3,771		-		5,367		-
Purchase accounting depreciation and amortization expense	(119	)	(1,541	)	(1,660	)	(3,081	)
Interest expense	(99	)	(1,283	)	(1,382	)	(2,567	)
Income/(loss) before income taxes	19,318		(4,622	)	41,240		13,709

Net Income/(loss) attributable to the Company	$12,289		($3,380	)	$26,748		$7,462

Pro forma earnings/(loss) per share attributable to Company shareholders:
Basic	$0.38		($0.11	)	$0.83		$0.23
Diluted	$0.38		($0.11	)	$0.83		$0.23

- Definition

The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).

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+ Details

Reportable Segments

6 Months Ended

Jun. 30, 2016

Segment Reporting [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)	2016		2015		2016		2015
Net sales
Machine Clothing	$148,934		$150,561		$294,197		309,055
Albany Engineered Composites	54,256		21,728		81,324		44,558
Consolidated total	$203,190		$172,289		$375,521		$353,613
Operating income/(loss)
Machine Clothing	$35,405		$33,323		$72,543		$69,013
Albany Engineered Composites	(5,848	)	(18,633	)	(9,553	)	(22,444	)
Corporate expenses	(11,700	)	(11,652	)	(22,864	)	(23,382	)
Operating income	17,857		3,038		40,126		23,187
Reconciling items:
Interest income	(547	)	(437	)	(673	)	(777	)
Interest expense	4,238		3,139		6,602		6,155
Other income, net	(2,017	)	2,820		(2,345	)	(465	)
Income before income taxes	$16,183		($2,484	)	$36,542		$18,274

Total assets of the AEC segment increased by approximately $223 million during the second quarter of 2016 due to the acquisition of AAC.

Total capital expenditures for the first six months of 2016 were $30.9 million, including amounts that were included in Accounts payable. In the Consolidated Statements of Cash Flows, capital expenditures and accounts payable were each adjusted by $2.1 million to reflect the non-cash nature of the transactions.

During the first six months of 2016, the Company recorded expenses of $5.4 million for acquisition-related costs. These costs are included in Selling, general and administrative expenses of the AEC segment.

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

Three months ended
June 30,

Six months ended

June 30,

(in thousands)

2016

2015

2016

2015

Restructuring expenses, net

Machine Clothing

$5,434

$1,211

$6,132

$10,212

Albany Engineered Composites

1,147

Corporate expenses

Consolidated total

$6,648

$1,211

$7,327

$10,212

- 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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-Paragraph 29
-URI http://asc.fasb.org/extlink&oid=68060357&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=68060357&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=68060357&loc=d3e8906-108599

+ Details

Pensions and Other Postretirement Benefit Plans

6 Months Ended

Jun. 30, 2016

Compensation and Retirement Disclosure [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, only those benefits

accrued through February 2009. 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

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, 2016 and 2015 was as follows:

	Pension plans				Other postretirement benefits
(in thousands)	2016		2015		2016		2015
Components of net periodic benefit cost:
Service cost	$1,319		$1,529		$127		$166
Interest cost	4,049		3,895		1,221		1,220
Expected return on assets	(4,482	)	(4,326	)	-		-
Amortization of prior service cost/(credit)	19		24		(2,244	)	(2,244	)
Amortization of net actuarial loss	1,164		1,297		1,410		1,669
Net periodic benefit cost	$2,069		$2,419		$514		$811

Restructuring

6 Months Ended

Jun. 30, 2016

Restructuring and Related Activities [Abstract]

Restructuring

5. Restructuring

During the first quarter of 2016 the Company announced the initiation of discussions with the relevant employee Works Council regarding a proposal to discontinue R&D activities at its Machine Clothing production facility in Sélestat, France. In May 2016, we reached agreement with the Works Council on the restructuring plan, and R&D activities are expected to discontinue during the third quarter of 2016. Approximately 25 positions will be terminated under this plan, and we recorded $2.4 million of restructuring expense in the second quarter 2016 as our estimate of the cost for severance, outplacement, and the write-off of equipment. Cost savings associated with this action will reduce research and development expenses in future periods.

Machine Clothing restructuring charges for the second quarter of 2016 also include $1.8 million for the relocation of equipment from our former manufacturing facility in Germany.

Albany Engineered Composites restructuring expenses in 2016 were principally related to the consolidation of the Company’s legacy programs into Boerne, Texas.

Machine Clothing restructuring costs in 2015 were principally related to plant closure costs in Göppingen, Germany.

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

Three months ended
June 30,

Six months ended

June 30,

(in thousands)

2016

2015

2016

2015

Machine Clothing

$5,434

$1,211

$6,132

$10,212

Albany Engineered Composites

1,147

Corporate Expenses

Total

$6,648

$1,211

$7,327

$10,212

Six months ended June 30,2016	Total restructuring costs incurred	Termination and other costs	Impairment of plant and equipment
(in thousands)
Machine Clothing	$6,132	$5,832	$300
Albany Engineered Composites	1,147	921	226
Corporate Expenses	48	48	-
Total	$7,327	$6,801	$526

Six months ended June 30, 2015	Total restructuring costs incurred	Termination and other costs	Impairment of plant and equipment
(in thousands)
Machine Clothing	$10,212	$10,212	$-
Albany Engineered Composites	-	-	-
Corporate Expenses	-	-	-
Total	$10,212	$10,212	$-

We expect that approximately $10.2 million of Accrued liabilities for restructuring at June 30, 2016 will be paid within one year and approximately $2.0 million will be paid in the following year. The table below presents the year-to-date changes in restructuring liabilities for 2016 and 2015, all of which related to termination costs:

	December 31,	Restructuring		Currency	June 30,
(in thousands)	2015	charges accrued	Payments	translation /other	2016

Total termination costs	$10,177	$6,801	($6,835)	$13	$10,156

	December 31,	Restructuring		Currency	June 30,
(in thousands)	2014	charges accrued	Payments	translation /other	2015

Total termination costs	$1,874	$10,212	($9,229)	($192)	$2,665

Other Income, net

6 Months Ended

Jun. 30, 2016

Other Income and Expenses [Abstract]

Other Income, net

6. Other Income, net

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

	Three months ended June 30,			Six months ended June 30,
(in thousands)	2016		2015	2016		2015
Currency transaction (gains)/losses	($1,571	)	$1,878	($2,049	)	($549	)
Bank fees and amortization of debt issuance costs	394		234	546		545
Gain on sale of investment	-		-	-		(872	)
Other	(840	)	708	(842	)	411
Total	($2,017	)	$2,820	($2,345	)	($465	)

In March 2015, the Company sold its total equity investment in an unaffiliated company, resulting in a gain of $0.9 million. The value of the investment had been written off in 2004.

Income Taxes

6 Months Ended

Jun. 30, 2016

Income Tax Disclosure [Abstract]

Income Taxes

7. Income Taxes

The following table presents components of income tax expense for the three and six months ended June 30, 2016 and 2015:

	Three months ended June 30,				Six months ended June 30,
(in thousands)	2016		2015		2016		2015

Income tax based on income/(loss) from continuing operations, at estimated tax rates of 38.7% and 43.5%, respectively	$6,258		($1,080	)	$14,131		$7,956
Effect of change in estimated tax rate	(203	)	736		-		-
Income tax expense/(benefit) before discrete items	6,055		(344	)	14,131		7,956

Discrete tax expense/(benefit):
Provision for/resolution of tax audits and contingencies, net	-		85		(825	)	168
Adjustments to prior period tax liabilities	-		(105	)	(243	)	(60	)
Other discrete tax adjustments, net	27		-		62		-
Enacted tax legislation	-		-		-		91
Total income tax expense/(benefit)	$6,082		($364	)	$13,125		$8,155

The second quarter estimated income tax rate based on continuing operations was 38.7 percent in 2016, compared to 43.5 percent for the same period in 2015.

The Company records the residual U.S. and foreign taxes on certain amounts of current year 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 income tax provision before discrete items includes the residual taxes on these earnings to the extent they cannot be repatriated in a tax-free manner. As of June 30, 2016, the Company has recorded a deferred tax liability on $59.0 million of prior year non-U.S. earnings that have been targeted for future repatriation to the U.S.

The Company conducts business globally and, as a result, 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 and we are currently under audit in various jurisdictions, including Canada and Italy. The open tax years range from 2007 to 2015.

It is reasonably possible that over the next twelve months the amount of unrecognized tax benefits may change within a range of $0.0 to a net decrease of $2.3 million, from the reevaluation of uncertain tax positions arising in examinations, in appeals, or in the courts, or from the closure of tax statutes.

In the first quarter of 2016, the Company reached a settlement with the German tax authorities over matters that had been outstanding for many years. The German Tax Authority had denied tax positions taken by the Company related to a 1999 reorganization. In 2009, the Company made a payment of $14.5 million in order to appeal the German Tax Authority decision, and we recorded that payment as an income tax receivable. As additional information became available in recent years, we wrote down the receivable by $6.3 million in 2014 and $6.4 million in 2015 ($5.8 million in the third quarter and $0.6 million in the fourth quarter). In April 2016, we received $3.7 million representing the final settlement of this matter, and accordingly, we adjusted our income tax receivable as of March 31, 2016 to that amount, and recorded a discrete tax benefit of $0.5 million for the first quarter of 2016.

Earnings Per Share

6 Months Ended

Jun. 30, 2016

Earnings Per Share [Abstract]

Earnings Per Share

8. Earnings Per Share

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

	Three months ended June 30,			Six months ended June 30,
(in thousands, except market price and earnings per share)	2016	2015		2016	2015

Net income/(loss) attributable to the Company	$10,367	($2,172	)	$23,868	$10,041

Weighted average number of shares:
Weighted average number of shares used in
calculating basic net income per share	32,093	31,999		32,067	31,941

Effect of dilutive stock-based compensation plans:
Stock options	38	-		39	74

Weighted average number of shares used in
calculating diluted net income per share	32,131	31,999		32,106	32,015

Shares related to stock-based compensation plans that were not included in the computation of diluted earnings per share because to do so would be antidilutive	-	56		-	-

Average market price of common stock used
for calculation of dilutive shares	$39.47	$40.12		$37.40	$38.76

Earnings/(loss) per share attributable to Company shareholders:
Basic	$0.32	($0.07	)	$0.74	$0.31
Diluted	$0.32	($0.07	)	$0.74	$0.31

Noncontrolling Interest

6 Months Ended

Jun. 30, 2016

Noncontrolling Interest [Abstract]

Noncontrolling Interest

9. Noncontrolling Interest

The table below presents a reconciliation of income attributable to the noncontrolling interest and noncontrolling equity:

	Six months ended June 30,
(in thousands)	2016		2015
Net (loss)/income of Albany Safran Composites (ASC)	($4,033	)	$1,282
Less: Return attributable to the Company's preferred holding	480		507
Net (loss)/income of ASC available for common ownership	($4,513	)	$775
Ownership percentage of noncontrolling shareholder	10	%	10	%
Net (loss)/income attributable to noncontrolling interest	($451	)	$78

Noncontrolling interest, beginning of year	$3,690		$3,699
Net (loss)/income attributable to noncontrolling interest	(451	)	78
Changes in other comprehensive income attributable to noncontrolling interest	(1	)	1
Noncontrolling interest	$3,238		$3,778

Accumulated Other Comprehensive Income (AOCI)

6 Months Ended

Jun. 30, 2016

Accumulated items of other comprehensive income:

Accumulated Other Comprehensive Income (AOCI)

10. Accumulated Other Comprehensive Income (AOCI)

The table below presents changes in the components of AOCI for the period December 31, 2015 to June 30, 2016:

(in thousands)	Translation adjustments		Pension and postretirement liability adjustments		Derivative valuation adjustment		Total Other Comprehensive Income
December 31, 2015	($108,655	)	($48,725	)	($1,464	)	($158,844	)
Other comprehensive income/(loss) before reclassifications	2,393		12		(4,608	)	(2,203	)
Pension/postretirement plan remeasurements, net of tax	-		105		-		105
Interest expense related to swaps reclassified to the Statement of Income, net of tax	-		-		363		363
Pension and postretirement liability adjustments reclassified to Statement of Income, net of tax	-		244		-		244
Net current period other comprehensive income/(loss)	2,393		361		(4,245	)	(1,491	)
June 30, 2016	($106,262	)	($48,364	)	($5,709	)	($160,335	)

The table below presents changes in the components of AOCI for the period December 31, 2014 to June 30, 2015:

(in thousands)	Translation adjustments		Pension and postretirement liability adjustments		Derivative valuation adjustment		Total Other Comprehensive Income
December 31, 2014	($55,240	)	($51,666	)	($861	)	($107,767	)
Other comprehensive income/(loss) before reclassifications	(26,023	)	1,125		(744	)	(25,642	)
Interest expense related to swaps reclassified to the Statement of Income, net of tax	-		-		581		581
Pension and postretirement liability adjustments reclassified to Statement of Income, net of tax	-		485		-		485
Net current period other comprehensive income/(loss)	(26,023	)	1,610		(163	)	(24,576	)
June 30, 2015	($81,263	)	($50,056	)	($1,024	)	($132,343	)

The table below presents the expense/(income) amounts reclassified, and the line items of the Consolidated Statements of Income that were affected for the periods ended June 30, 2016 and 2015.

	Three months ended June 30,				Six months ended June 30,
(in thousands)	2016		2015		2016		2015
Pretax Derivative valuation reclassified from Accumulated Other Comprehensive Income:
Payments made on interest rate swaps included in Income before taxes(a)	$305		$467		$586		$953
Income tax effect	(116	)	(182	)	(223	)	(372	)
Effect on net income due to items reclassified from Accumulated Other Comprehensive Income	$189		$285		$363		$581

Pretax pension and postretirement liabilities reclassified from Accumulated Other Comprehensive Income:
Amortization of prior service credit	($1,112	)	($1,111	)	($2,225	)	($2,220	)
Amortization of net actuarial loss	1,296		1,461		2,574		2,966
Total pretax amount reclassified (b)	184		350		349		746
Income tax effect	(56	)	(122	)	(105	)	(261	)
Effect on net income due to items reclassified from Accumulated Other Comprehensive Income	$128		$228		$244		$485

(a)

Included in Interest expense.

(b)

These accumulated other comprehensive income/(loss) components are included in the computation of net periodic pension cost (see Note 4).

- Definition

The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=66004124&loc=d3e689-108580

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=66004124&loc=SL7669619-108580

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=66004124&loc=d3e640-108580

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 17
-URI http://asc.fasb.org/extlink&oid=66004124&loc=d3e716-108580

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 16
-URI http://asc.fasb.org/extlink&oid=66004124&loc=d3e709-108580

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=66004124&loc=d3e637-108580

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 14
-URI http://asc.fasb.org/extlink&oid=66004124&loc=d3e681-108580

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Reclassification Adjustments
-URI http://asc.fasb.org/extlink&oid=6522872

+ Details

Accounts Receivable

6 Months Ended

Jun. 30, 2016

Receivables [Abstract]

Accounts Receivable

11. Accounts Receivable

Accounts receivable includes trade receivables, and revenue in excess of progress billings on long-term contracts in the AEC segment. The Company maintains allowances for doubtful accounts for estimated losses resulting from the inability of its customers to make required payments. The Company determines allowances 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.

As of June 30, 2016 and December 31, 2015, Accounts receivable consisted of the following:

(in thousands)	June 30, 2016		December 31, 2015
Trade and other accounts receivable	$150,232		$123,179
Bank promissory notes	15,017		15,845
Revenue in excess of progress billings	19,326		15,889
Allowance for doubtful accounts	(8,239	)	(8,530	)
Total accounts receivable	$176,336		$146,383

In connection with certain sales in Asia Pacific, the Company accepts a bank promissory note as customer payment. The notes may be presented for payment at maturity, which is less than one year.

- 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, 2016

Inventory Disclosure [Abstract]

Inventories

12. Inventories

Inventories are stated at the lower of cost or market, with cost determined using the first-in-first out method. The Company writes down the inventory for estimated obsolescence and to lower of cost or market value based upon assumptions about future demand and market conditions. If actual market conditions are less favorable than those projected by the Company, additional inventory write-downs may be required. Once established, the original cost of the inventory less the related inventory allowance represents the new cost basis of such inventories. The AEC segment has long-term contracts under which we incur engineering and development costs that are allocable to parts that will be delivered over multiple years. These costs are included in Work in process in the table below.

As of June 30, 2016 and December 31, 2015, inventories consisted of the following:

(in thousands)	June 30, 2016	December 31, 2015
Raw materials	$36,612	$27,636
Work in process	68,142	41,823
Finished goods	40,617	36,947
Total inventories	$145,371	$106,406

Goodwill and Other Intangible Assets

6 Months Ended

Jun. 30, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

13. 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.

On April 8, 2016, the Company acquired the outstanding shares of Harris Corporation’s composite aerostructures business. Management is in the process of determining the fair value of assets and liabilities acquired. Our preliminary estimate is that we acquired amortizable intangible assets of $59.4 million and goodwill of $31.3 million. The amounts are subject to change as management completes its review of assets and liabilities acquired.

Prior to the acquisition, the entire balance of goodwill on our books was attributable to the Machine Clothing business. In the second quarter of 2016, the Company applied the qualitative assessment approach in performing its annual evaluation of Machine Clothing goodwill and concluded that no impairment provision was required. 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 and technology assets that have finite lives. The changes in intangible assets and goodwill from December 31, 2015 to June 30, 2016, were as follows:

(in thousands)	December 31, 2015	Assets acquired April 8, 2016	Amortization		Currency Translation	June 30, 2016

Amortized intangible assets:
AEC trade names	$25	$-	$(2	)	$-	$23
AEC technology	129	-	(12	)	-	117
Customer relationships	-	40,740	(495	)	-	40,245
Customer contracts	-	16,900	(650	)	-	16,250
Other intangibles	-	1,720	(30	)	-	1,690
Total amortized intangible assets	$154	$59,360	($1,189	)	$-	$58,325

Unamortized intangible assets:
MC Goodwill	$66,373	$-	$-		$866	$67,239
AEC Goodwill	-	31,327	-		-	31,327
Total unamortized intangible assets:	$66,373	$31,327	$-		$866	$98,566

The estimated useful lives for intangibles acquired during the second quarter of 2016 are 19 years for customer relationships, 6 years for customer contracts, and 7 to 22 years for other intangibles. The estimate of intangible amortization expense for 2016 and beyond is significantly influenced by the preliminary valuation of intangibles acquired in the second quarter of 2016 and is subject to adjustment when the valuation work is completed. Based on the preliminary valuation, estimated amortization expense of intangibles for the years ending December 31, 2016 through 2020, is as follows:

	Annual amortization
Year	(in thousands)
2016	$3,850
2017	5,100
2018	5,100
2019	5,100
2020	5,100

- 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, 2016

Long-term Debt and Capital Lease Obligations [Abstract]

Financial Instruments

14. Financial Instruments

Long-term debt, principally to banks and bondholders, consists of:

(in thousands, except interest rates)	June 30, 2016		December 31, 2015

Private placement with a fixed interest rate of 6.84%, due 2017	$50,000		$50,000

Credit agreement with borrowings outstanding at an end of period interest rate of 2.53% in 2016 and 2.27% in 2015 (including the effect of interest rate hedging transactions, as described below)	412,000		215,000

Various notes and mortgages relative to operations principally outside the United States, at an average end of period rate of 5.50% in 2016 and 2015, due in varying amounts through 2021	88		96

Obligation under capital lease, matures 2027	23,693		-

Long-term debt	485,781		265,096

Less: current portion	(566	)	(16	)

Long-term debt, net of current portion	$485,215		$265,080

A note agreement and guaranty (“Prudential Agreement”) was originally entered into in October 2005 with the Prudential Insurance Company of America, and certain other purchasers, with interest at 6.84% and a maturity date of October 25, 2017. The remaining principal under the Prudential Agreement is $50 million, and is due on October 25, 2017. 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 agreement (as described below). The Prudential Agreement has been amended a number of times, most recently in April 2016, in order to maintain terms comparable to our current principal credit facility. For disclosure purposes, we are required to measure the fair value of outstanding debt on a recurring basis. As of June 30, 2016, the fair value of this debt was approximately $54.1 million, and was measured using active market interest rates, which would be considered Level 2 for fair value measurement purposes.

On April 8, 2016, we entered into a $550 million unsecured Five-Year Revolving Credit Facility Agreement (the “Credit Agreement”) which amends and restates the prior $400 million Agreement, entered into on June 18, 2015 (the “Prior Agreement”). Under the Credit Agreement, $412 million of borrowings were outstanding as of June 30, 2016. The applicable interest rate for borrowings was LIBOR plus a spread, based on our leverage ratio at the time of borrowing. At the time of the last borrowing on June 16, 2016, the spread was 1.50%. The spread was based on a pricing grid, which ranged from 1.25% to 1.75%, based on our leverage ratio. Based on our maximum leverage ratio and our Consolidated EBITDA, and without modification to any other credit agreements, as of June 30, 2016, we would have been able to borrow an additional $138 million under the Agreement.

The Credit Agreement contains customary terms, as well as affirmative covenants, negative covenants and events of default comparable to those in the Prior Agreement. The Borrowings are guaranteed by certain of the Company's subsidiaries.

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 (as defined in the Credit Agreement).

In connection with the acquisition of AAC, the Company has a long-term capital lease obligation for real property in Salt Lake City, Utah. The lease has an implied interest rate of 8% and matures in 2027.

The following schedule presents future minimum annual lease payments under the capital lease obligation and the present value of the minimum lease payments, as of June 30, 2016.

Years ending December 31,	(in thousands)

2016	$1,213
2017	2,425
2018	2,473
2019	2,473
2020	2,520
Thereafter	18,754
Total minimum lease payments	29,858
Less: Amount representing interest	6,165

Present value of minimum lease payments	$23,693

On May 6, 2016, we terminated our interest rate swap agreements that had effectively fixed the interest rate on up to $120 million of revolving credit borrowings, in order to enter into a new interest rate swap with a greater notional amount, and the same maturity as the Credit Agreement. We paid $5.2 million to terminate the swap agreements and that cost will be amortized into interest expense through June 2020.

On May 9, 2016, we entered into interest rate hedging for the period May 16, 2016 through March 16, 2021. These transactions have the effect of fixing the LIBOR portion of the effective interest rate (before addition of the spread) on $300 million of indebtedness drawn under the Credit Agreement at the rate of 1.245% during the period. Under the terms of these transactions, we pay the fixed rate of 1.245% and the counterparties pay a floating rate based on the one-month LIBOR rate at each monthly calculation date, which on June 16, 2016 was 0.450%. The net effect is to fix the effective interest rate on $300 million of indebtedness at 1.245%, plus the applicable spread, during the swap period. On June 16, 2016, the all-in-rate on the $300 million of debt was 2.745%.

These interest rate swaps are accounted for as a hedge of future cash flows, as further described in Note 15 of the Notes to Consolidated Financial Statements. No cash collateral was received or pledged in relation to the swap agreements.

Under the Credit Agreement and Prudential Agreement, we are currently required to maintain a leverage ratio (as defined in the agreements) of not greater than 3.50 to 1.00 and minimum interest coverage (as defined) of 3.00 to 1.00.

As of June 30, 2016, our leverage ratio, including the pro-forma effect of the acquisition, was 2.31 to 1.00 and our interest coverage ratio was 14.18 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.

Indebtedness under each of 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, 2016.

Fair-Value Measurements

6 Months Ended

Jun. 30, 2016

Fair Value Disclosures [Abstract]

Fair-Value Measurements

15. 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. 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. In 2015 we reclassified land and building related to the former manufacturing facility in Germany as Asset held for sale in the accompanying Consolidated Balance Sheets. As of June 30, 2016 and December 31, 2015, we have Level 3 financial assets of $5.2 million and $5.0 million, respectively. The value as of June 30, 2016 was determined based on preliminary offers from active market participants.

The following table presents the fair-value hierarchy for our Level 1 and Level 2 financial and non-financial assets and liabilities, which are measured at fair value on a recurring basis, and Level 3 non-financial measured at fair value:

	June 30, 2016					December 31, 2015
	Quoted prices in active markets		Significant other observable inputs		Unobservable inputs	Quoted prices in active markets	Significant other observable inputs		Unobservable inputs

(in thousands)	(Level 1)		(Level 2)		(Level 3)	(Level 1)	(Level 2)		(Level 3)
Fair Value
Assets:
Cash equivalents	$16,366		$-		$-	$5,189	$-		$-
Asset held for sale	-		-		5,078	-	-		4,988
Prepaid expenses and other current assets:
Foreign currency options	-		366		-	-	-		-
Other Assets:
Common stock of unaffiliated foreign public company	744	(a)	-		-	819	-		-
Liabilities:
Other noncurrent liabilities:
Interest rate swaps	-		4,336	(b)		-	(2,400	)^(c)

(a)

Original cost basis $0.5 million

(b)

Net of $13.4 million receivable floating leg and $17.8 million liability fixed leg

(c)

Net of $7.4 million receivable floating leg and $9.8 million liability fixed leg

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 the unaffiliated 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 unrealized gain or loss is recorded in the Shareholders’ Equity section of the Consolidated Balance Sheets rather than in the Consolidated Statements of Income. When the security is sold or impaired, gains and losses are reported on the Consolidated Statements of Income. 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)/expenses, net.

When exercised, the foreign currency instruments are net settled with the same financial institution that bought or sold them. For all positions, whether options or forward contracts, there is risk from the possible inability of the financial institution to meet the terms of the contracts and the risk of unfavorable changes in interest and currency rates, which may reduce the value of the instruments. We seek to 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)/expenses, net. Revaluation gains and losses occur when our business units have cash, intercompany (recorded in Other (income)/expenses, net) or third-party trade (recorded in Selling, General and Administrative expenses) receivable or payable balances 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 Consolidated Statements of Income 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/or Other noncurrent liabilities in the Consolidated Balance Sheets. Unrealized gains and losses on the swaps 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. As of June 30, 2016, these interest rate swaps were determined to be highly effective hedges of interest rate cash flow risk. Any 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), and amortization related to the swap buyouts, affect earnings. Interest expense related to the current swaps totaled $0.6 million for the six month period ended June 30, 2016 and $1.0 million for the six month period ended June 30, 2015. Interest expense related to the swap buyouts totaled $0.1 million for the six month period ended June 30, 2016 and $0.0 million for the six month period ended June 30, 2015.

Gains/(losses) related to changes in fair value of derivative instruments that were recognized in Other (income)/expenses, net in the Consolidated Statements of Income were as follows:

	Three months ended June 30,		Six months ended June 30,
(in thousands)	2016	2015	2016	2015

Derivatives not designated as hedging instruments
Foreign currency options	$250	($92)	$455	$125

- 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, 2016

Commitments and Contingencies Disclosure [Abstract]

Contingencies

16. 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 3,814 claims as of June 30, 2016.

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	4,463	230	66	4,299	78
2014	4,299	625	147	3,821	437
2015	3,821	116	86	3,791	164
As of June 30, 2016	3,791	45	68	3,814	$47

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 June 30, 2016 we had resolved, by means of settlement or dismissal, 37,386 claims. The total cost of resolving all claims was $9.45 million. Of this amount, almost 100% was paid by our insurance carrier. The Company’s insurer has confirmed that although the coverage limits under two (of approximately 23) primary insurance policies have been exhausted, there still remains approximately $3 million in coverage limits under other applicable primary policies, and $140 million in coverage under excess umbrella coverage policies that should be available with respect to current and future asbestos claims.

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 7,707 claims as of June 30, 2016.

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	$-
2006	9,566	1,182	730	9,114	-
2007	9,114	462	88	8,740	-
2008	8,740	86	10	8,664	-
2009	8,664	760	3	7,907	-
2010	7,907	47	9	7,869	-
2011	7,869	3	11	7,877	-
2012	7,877	12	2	7,867	-
2013	7,867	55	3	7,815	-
2014	7,815	87	2	7,730	-
2015	7,730	18	1	7,713	-
As of June 30, 2016	7,713	6	-	7,707	$-

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 June 30, 2016, Brandon has resolved, by means of settlement or dismissal, 9,899 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.

Changes in Shareholders' Equity

6 Months Ended

Jun. 30, 2016

Stockholders' Equity Note [Abstract]

Changes in Shareholders' Equity

17. Changes in Shareholders’ Equity

The following table summarizes changes in Shareholders’ Equity:

(in thousands)	Common Stock Class A and B	Additional paid in capital	Retained earnings		Accumulated items of other comprehensive income/(loss)		Treasury stock		Noncontrolling Interest		Total Equity
December 31, 2015	$40	$423,108	$491,950		($158,844	)	($257,391	)	$3,690		$502,553
Net income	-	-	23,868		-		-		(451	)	23,417
Compensation and benefits paid or payable in shares	-	1,152	-		-		-		-		1,152
Options exercised	-	495	-		-		-		-		495
Shares issued to Directors'	-	166	-		-		214		-		380
Dividends declared	-	-	(10,911	)	-		-		-		(10,911	)
Cumulative translation adjustments	-	-	-		2,393		-		(1	)	2,392
Pension and postretirement liability adjustments	-	-	-		361		-		-		361
Derivative valuation adjustment	-	-	-		(4,245	)	-		-		(4,245	)
June 30, 2016	$40	$424,921	$504,907		($160,335	)	($257,177	)	$3,238		$515,594

- 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

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+ Details

Recent Accounting Pronouncements

6 Months Ended

Jun. 30, 2016

Accounting Changes and Error Corrections [Abstract]

Recent Accounting Pronouncements

18. Recent Accounting Pronouncements

In May 2014, an accounting update was issued that replaces the existing revenue recognition framework regarding contracts with customers. There have been several revisions to the update, the latest occurring in May 2016. This accounting update is effective for reporting periods beginning after December 31, 2017. Early adoption is permitted but not before the original effective date, which is for reporting periods beginning after December 31, 2016. We have not determined the impact of this update on our financial statements.

In February 2015, amended accounting guidance was issued which changes the evaluation of variable interest entities regarding whether they should consolidate limited partnerships and similar entities, or whether fees are paid to a decision maker or service provider, or whether they are held by related parties. We adopted this provision as of January 1, 2016 and it did not affect our financial statements.

In April 2015 and August 2015, accounting updates were issued which require that debt issuance costs related to certain types of recognized debt liability be presented in the balance sheet as a direct deduction of that debt, which could result in a minor netting down of assets and liabilities. We adopted this provision as of January 1, 2016 and it did not affect our financial statements.

In May 2015, an accounting update was issued which eliminates the requirement to categorize investments in the fair value hierarchy if their fair value is measured at net asset value (NAV) per share. We adopted this provision as of January 1, 2016 and it did not affect our financial statements.

In July 2015, an accounting update was issued simplifying the measurement of inventory from the lower of cost or market to lower of cost or net realizable value. This accounting update eliminates the requirement for consideration of replacement cost or net realizable value less normal profit margin measurements. This accounting update is effective for reporting periods beginning after December 15, 2016. We do not expect the adoption of this update to have a significant effect on our financial statements.

In September 2015, an accounting update was issued which eliminates the requirement for an acquirer to retrospectively adjust the financial statements for measurement-period adjustments that occur in periods after a business combination is consummated. This accounting update was adopted January 1, 2016. The Company’s acquisition in the second quarter of 2016 could give rise to adjustments that would be accounted for in accordance with this update.

In January 2016, an accounting update was issued which requires entities to present separately in Other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk if the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments. This accounting update is effective for reporting periods beginning after December 15, 2017. We have not determined the impact of this update on our financial statements.

In February 2016, an accounting update was issued which requires lessees to recognize most leases on the balance sheet. The update may significantly increase reported assets and liabilities. This accounting update is effective for reporting periods beginning after December 15, 2018. We have not determined the impact of this update on our financial statements.

In March 2016, an accounting update was issued which clarifies that a change in counterparty to a derivative contract, through novation, that is part of a hedge accounting relationship does not, by itself, require de-designation of that relationship, as long as all other hedge accounting criteria continue to be met. This accounting update is effective for reporting periods beginning after December 15, 2016. We do not expect the adoption of this update to have a significant effect on our financial statements.

In March 2016, an accounting update was issued which simplifies the transition to the equity method of accounting by eliminating the requirement for an investor to retroactively apply the equity method when its increase in ownership interest, or degree of influence, triggers equity method accounting. This accounting update is effective for reporting periods beginning after December 15, 2016. We do not expect the adoption of this update to have a significant effect on our financial statements.

In March 2016, an accounting update was issued which simplifies several aspects related to the accounting for share-based payment transactions, including the income tax consequences, statutory tax withholding requirements, and classification of excess tax benefits on the statements of cash flows. This accounting update is effective for reporting periods beginning after December 15, 2016. Early adoption is permitted. Adoption of this accounting update could increase the volatility of income tax expense. We have not determined the effect of this update on our financial statements.

- Definition

The entire disclosure for reporting accounting changes and error corrections. It includes the conveyance of information necessary for a user of the Company's financial information to understand all aspects and required disclosure information concerning all changes and error corrections reported in the Company's financial statements for the period.

+ References + Details

Accounting Policies (Policies)

6 Months Ended

Jun. 30, 2016

Accounting Policies [Abstract]

Basis of Presentation

Basis of Presentation

Business Acquisition (Tables)

6 Months Ended

Jun. 30, 2016

Business Combinations [Abstract]

Schedule of Provisional Allocation of Purchase Price of Albany Aerostructures Composites, LLC

The following table summarizes the provisional allocation of the purchase price of AAC to the fair value of the assets and liabilities acquired:

(in thousands)		April 8 , 2016
Assets acquired
Accounts receivable		$16,264
Inventories		29,739
Prepaid expenses and other current assets		402
Property, plant and equipment		85,802
Intangibles		59,360
Goodwill		31,327
Total assets acquired		$222,894

Liabilities assumed
Accounts payable		$8,745
Accrued liabilities		2,364
Capital lease obligation		23,815
Other noncurrent liabilities		970
Total liabilities assumed		$35,894

Net assets acquired		$187,000

Schedule of Operational Results of Acquired Business

The following tables presents operational results of AAC that are included in the Consolidated Statements of Income:

(in thousands, except per share amounts)		April 8 to June 30, 2016
Net sales		$25,636
Operating income		1,709
Income before income taxes		1,266
Net Income attributable to the Company		760

Earnings per share:
Basic		$0.02
Diluted		$0.02

Schedule of Proforma Statement of Operations

The following table shows total Company pro forma statements of operations for the three- and six-month periods ended June 30, 2016 and 2015, as if the acquisition had occurred on January 1, 2015. This pro forma information does not purport to represent what the Company’s actual results would have been if the acquisitions had occurred as of the date indicated, or what such results would be for any future periods.

	Unaudited - Pro forma
	Three months ended June 30,				Six months ended June 30,
(in thousands, except per share amounts)	2016		2015		2016		2015

Combined Net sales	$204,371		$192,508		$397,706		$392,988

Combined Income/(loss) before income taxes	$15,765		($1,798	)	$38,915		$19,357

Pro forma adjustments:
Acquisition expenses	3,771		-		5,367		-
Purchase accounting depreciation and amortization expense	(119	)	(1,541	)	(1,660	)	(3,081	)
Interest expense	(99	)	(1,283	)	(1,382	)	(2,567	)
Income/(loss) before income taxes	19,318		(4,622	)	41,240		13,709

Net Income/(loss) attributable to the Company	$12,289		($3,380	)	$26,748		$7,462

Pro forma earnings/(loss) per share attributable to Company shareholders:
Basic	$0.38		($0.11	)	$0.83		$0.23
Diluted	$0.38		($0.11	)	$0.83		$0.23

Reportable Segments and Geographic Data (Tables)

6 Months Ended

Jun. 30, 2016

Segment Reporting [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)	2016		2015		2016		2015
Net sales
Machine Clothing	$148,934		$150,561		$294,197		309,055
Albany Engineered Composites	54,256		21,728		81,324		44,558
Consolidated total	$203,190		$172,289		$375,521		$353,613
Operating income/(loss)
Machine Clothing	$35,405		$33,323		$72,543		$69,013
Albany Engineered Composites	(5,848	)	(18,633	)	(9,553	)	(22,444	)
Corporate expenses	(11,700	)	(11,652	)	(22,864	)	(23,382	)
Operating income	17,857		3,038		40,126		23,187
Reconciling items:
Interest income	(547	)	(437	)	(673	)	(777	)
Interest expense	4,238		3,139		6,602		6,155
Other income, net	(2,017	)	2,820		(2,345	)	(465	)
Income before income taxes	$16,183		($2,484	)	$36,542		$18,274

Schedule of Restructuring Costs by Reporting Segment

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

Three months ended
June 30,

Six months ended

June 30,

(in thousands)

2016

2015

2016

2015

Restructuring expenses, net

Machine Clothing

$5,434

$1,211

$6,132

$10,212

Albany Engineered Composites

1,147

Corporate expenses

Consolidated total

$6,648

$1,211

$7,327

$10,212

Pensions and Other Postretirement Benefit Plans (Tables)

6 Months Ended

Jun. 30, 2016

Compensation and Retirement Disclosure [Abstract]

Schedule of Net Periodic Benefit Plan Cost

The composition of the net periodic benefit plan cost for the six months ended June 30, 2016 and 2015 was as follows:

	Pension plans				Other postretirement benefits
(in thousands)	2016		2015		2016		2015
Components of net periodic benefit cost:
Service cost	$1,319		$1,529		$127		$166
Interest cost	4,049		3,895		1,221		1,220
Expected return on assets	(4,482	)	(4,326	)	-		-
Amortization of prior service cost/(credit)	19		24		(2,244	)	(2,244	)
Amortization of net actuarial loss	1,164		1,297		1,410		1,669
Net periodic benefit cost	$2,069		$2,419		$514		$811

Restructuring (Tables)

6 Months Ended

Jun. 30, 2016

Restructuring and Related Activities [Abstract]

Schedule of Restructuring Charges

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

Three months ended
June 30,

Six months ended

June 30,

(in thousands)

2016

2015

2016

2015

Machine Clothing

$5,434

$1,211

$6,132

$10,212

Albany Engineered Composites

1,147

Corporate Expenses

Total

$6,648

$1,211

$7,327

$10,212

Six months ended June 30,2016	Total restructuring costs incurred	Termination and other costs	Impairment of plant and equipment
(in thousands)
Machine Clothing	$6,132	$5,832	$300
Albany Engineered Composites	1,147	921	226
Corporate Expenses	48	48	-
Total	$7,327	$6,801	$526

Six months ended June 30, 2015	Total restructuring costs incurred	Termination and other costs	Impairment of plant and equipment
(in thousands)
Machine Clothing	$10,212	$10,212	$-
Albany Engineered Composites	-	-	-
Corporate Expenses	-	-	-
Total	$10,212	$10,212	$-

Schedule of Restructuring Liability

The table below presents the year-to-date changes in restructuring liabilities for 2016 and 2015, all of which related to termination costs:

	December 31,	Restructuring		Currency	June 30,
(in thousands)	2015	charges accrued	Payments	translation /other	2016

Total termination costs	$10,177	$6,801	($6,835)	$13	$10,156

	December 31,	Restructuring		Currency	June 30,
(in thousands)	2014	charges accrued	Payments	translation /other	2015

Total termination costs	$1,874	$10,212	($9,229)	($192)	$2,665

Other Income, net (Tables)

6 Months Ended

Jun. 30, 2016

Other Income and Expenses [Abstract]

Other Income, net

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

	Three months ended June 30,			Six months ended June 30,
(in thousands)	2016		2015	2016		2015
Currency transaction (gains)/losses	($1,571	)	$1,878	($2,049	)	($549	)
Bank fees and amortization of debt issuance costs	394		234	546		545
Gain on sale of investment	-		-	-		(872	)
Other	(840	)	708	(842	)	411
Total	($2,017	)	$2,820	($2,345	)	($465	)

Income Taxes (Tables)

6 Months Ended

Jun. 30, 2016

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense

The following table presents components of income tax expense for the three and six months ended June 30, 2016 and 2015:

	Three months ended June 30,				Six months ended June 30,
(in thousands)	2016		2015		2016		2015

Income tax based on income/(loss) from continuing operations, at estimated tax rates of 38.7% and 43.5%, respectively	$6,258		($1,080	)	$14,131		$7,956
Effect of change in estimated tax rate	(203	)	736		-		-
Income tax expense/(benefit) before discrete items	6,055		(344	)	14,131		7,956

Discrete tax expense/(benefit):
Provision for/resolution of tax audits and contingencies, net	-		85		(825	)	168
Adjustments to prior period tax liabilities	-		(105	)	(243	)	(60	)
Other discrete tax adjustments, net	27		-		62		-
Enacted tax legislation	-		-		-		91
Total income tax expense/(benefit)	$6,082		($364	)	$13,125		$8,155

Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2016

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 and earnings per share)	2016	2015		2016	2015

Net income/(loss) attributable to the Company	$10,367	($2,172	)	$23,868	$10,041

Weighted average number of shares:
Weighted average number of shares used in
calculating basic net income per share	32,093	31,999		32,067	31,941

Effect of dilutive stock-based compensation plans:
Stock options	38	-		39	74

Weighted average number of shares used in
calculating diluted net income per share	32,131	31,999		32,106	32,015

Shares related to stock-based compensation plans that were not included in the computation of diluted earnings per share because to do so would be antidilutive	-	56		-	-

Average market price of common stock used
for calculation of dilutive shares	$39.47	$40.12		$37.40	$38.76

Earnings/(loss) per share attributable to Company shareholders:
Basic	$0.32	($0.07	)	$0.74	$0.31
Diluted	$0.32	($0.07	)	$0.74	$0.31

Noncontrolling Interest (Tables)

6 Months Ended

Jun. 30, 2016

Noncontrolling Interest [Abstract]

Schedule of Income Attributable to Noncontrolling Interest and Noncontrolling Equity

The table below presents a reconciliation of income attributable to the noncontrolling interest and noncontrolling equity:

	Six months ended June 30,
(in thousands)	2016		2015
Net (loss)/income of Albany Safran Composites (ASC)	($4,033	)	$1,282
Less: Return attributable to the Company's preferred holding	480		507
Net (loss)/income of ASC available for common ownership	($4,513	)	$775
Ownership percentage of noncontrolling shareholder	10	%	10	%
Net (loss)/income attributable to noncontrolling interest	($451	)	$78

Noncontrolling interest, beginning of year	$3,690		$3,699
Net (loss)/income attributable to noncontrolling interest	(451	)	78
Changes in other comprehensive income attributable to noncontrolling interest	(1	)	1
Noncontrolling interest	$3,238		$3,778

Accumulated Other Comprehensive Income (AOCI) (Tables)

6 Months Ended

Jun. 30, 2016

Accumulated items of other comprehensive income:

Schedule of Accumulated Other Comprehensive Income

The table below presents changes in the components of AOCI for the period December 31, 2015 to June 30, 2016:

(in thousands)	Translation adjustments		Pension and postretirement liability adjustments		Derivative valuation adjustment		Total Other Comprehensive Income
December 31, 2015	($108,655	)	($48,725	)	($1,464	)	($158,844	)
Other comprehensive income/(loss) before reclassifications	2,393		12		(4,608	)	(2,203	)
Pension/postretirement plan remeasurements, net of tax	-		105		-		105
Interest expense related to swaps reclassified to the Statement of Income, net of tax	-		-		363		363
Pension and postretirement liability adjustments reclassified to Statement of Income, net of tax	-		244		-		244
Net current period other comprehensive income/(loss)	2,393		361		(4,245	)	(1,491	)
June 30, 2016	($106,262	)	($48,364	)	($5,709	)	($160,335	)

The table below presents changes in the components of AOCI for the period December 31, 2014 to June 30, 2015:

(in thousands)	Translation adjustments		Pension and postretirement liability adjustments		Derivative valuation adjustment		Total Other Comprehensive Income
December 31, 2014	($55,240	)	($51,666	)	($861	)	($107,767	)
Other comprehensive income/(loss) before reclassifications	(26,023	)	1,125		(744	)	(25,642	)
Interest expense related to swaps reclassified to the Statement of Income, net of tax	-		-		581		581
Pension and postretirement liability adjustments reclassified to Statement of Income, net of tax	-		485		-		485
Net current period other comprehensive income/(loss)	(26,023	)	1,610		(163	)	(24,576	)
June 30, 2015	($81,263	)	($50,056	)	($1,024	)	($132,343	)

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

The table below presents the expense/(income) amounts reclassified, and the line items of the Consolidated Statements of Income that were affected for the periods ended June 30, 2016 and 2015.

	Three months ended June 30,				Six months ended June 30,
(in thousands)	2016		2015		2016		2015
Pretax Derivative valuation reclassified from Accumulated Other Comprehensive Income:
Payments made on interest rate swaps included in Income before taxes(a)	$305		$467		$586		$953
Income tax effect	(116	)	(182	)	(223	)	(372	)
Effect on net income due to items reclassified from Accumulated Other Comprehensive Income	$189		$285		$363		$581

Pretax pension and postretirement liabilities reclassified from Accumulated Other Comprehensive Income:
Amortization of prior service credit	($1,112	)	($1,111	)	($2,225	)	($2,220	)
Amortization of net actuarial loss	1,296		1,461		2,574		2,966
Total pretax amount reclassified (b)	184		350		349		746
Income tax effect	(56	)	(122	)	(105	)	(261	)
Effect on net income due to items reclassified from Accumulated Other Comprehensive Income	$128		$228		$244		$485

(a)

Included in Interest expense.

(b)

These accumulated other comprehensive income/(loss) components are included in the computation of net periodic pension cost (see Note 4).

Accounts Receivable (Tables)

6 Months Ended

Jun. 30, 2016

Receivables [Abstract]

Schedule of Accounts Receivable

As of June 30, 2016 and December 31, 2015, Accounts receivable consisted of the following:

(in thousands)	June 30, 2016		December 31, 2015
Trade and other accounts receivable	$150,232		$123,179
Bank promissory notes	15,017		15,845
Revenue in excess of progress billings	19,326		15,889
Allowance for doubtful accounts	(8,239	)	(8,530	)
Total accounts receivable	$176,336		$146,383

Inventories (Tables)

6 Months Ended

Jun. 30, 2016

Inventory Disclosure [Abstract]

Schedule of Inventories

As of June 30, 2016 and December 31, 2015, inventories consisted of the following:

(in thousands)	June 30, 2016	December 31, 2015
Raw materials	$36,612	$27,636
Work in process	68,142	41,823
Finished goods	40,617	36,947
Total inventories	$145,371	$106,406

Goodwill and Other Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Changes in Intangible Assets and Goodwill

The changes in intangible assets and goodwill from December 31, 2015 to June 30, 2016, were as follows:

(in thousands)	December 31, 2015	Assets acquired April 8, 2016	Amortization		Currency Translation	June 30, 2016

Amortized intangible assets:
AEC trade names	$25	$-	$(2	)	$-	$23
AEC technology	129	-	(12	)	-	117
Customer relationships	-	40,740	(495	)	-	40,245
Customer contracts	-	16,900	(650	)	-	16,250
Other intangibles	-	1,720	(30	)	-	1,690
Total amortized intangible assets	$154	$59,360	($1,189	)	$-	$58,325

Unamortized intangible assets:
MC Goodwill	$66,373	$-	$-		$866	$67,239
AEC Goodwill	-	31,327	-		-	31,327
Total unamortized intangible assets:	$66,373	$31,327	$-		$866	$98,566

Schedule of Estimated Amortization Expense

Based on the preliminary valuation, estimated amortization expense of intangibles for the years ending December 31, 2016 through 2020, is as follows:

	Annual amortization
Year	(in thousands)
2016	$3,850
2017	5,100
2018	5,100
2019	5,100
2020	5,100

Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2016

Long-term Debt and Capital Lease Obligations [Abstract]

Schedule of Long-Term Debt

Long-term debt, principally to banks and bondholders, consists of:

(in thousands, except interest rates)	June 30, 2016		December 31, 2015

Private placement with a fixed interest rate of 6.84%, due 2017	$50,000		$50,000

Credit agreement with borrowings outstanding at an end of period interest rate of 2.53% in 2016 and 2.27% in 2015 (including the effect of interest rate hedging transactions, as described below)	412,000		215,000

Various notes and mortgages relative to operations principally outside the United States, at an average end of period rate of 5.50% in 2016 and 2015, due in varying amounts through 2021	88		96

Obligation under capital lease, matures 2027	23,693		-

Long-term debt	485,781		265,096

Less: current portion	(566	)	(16	)

Long-term debt, net of current portion	$485,215		$265,080

Schedule of Future Minimum Annual Capital Lease Obilgations

The following schedule presents future minimum annual lease payments under the capital lease obligation and the present value of the minimum lease payments, as of June 30, 2016.

Years ending December 31,	(in thousands)

2016	$1,213
2017	2,425
2018	2,473
2019	2,473
2020	2,520
Thereafter	18,754
Total minimum lease payments	29,858
Less: Amount representing interest	6,165

Present value of minimum lease payments	$23,693

- 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
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-Section 50
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-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
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-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=64930739&loc=d3e28878-108400

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
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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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Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
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-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=64930785&loc=d3e28541-108399

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
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-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=64930785&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

+ Details

Fair-Value Measurements (Tables)

6 Months Ended

Jun. 30, 2016

Fair Value Disclosures [Abstract]

Schedule of Fair Value of Financial Assets and Liabilities

	June 30, 2016					December 31, 2015
	Quoted prices in active markets		Significant other observable inputs		Unobservable inputs	Quoted prices in active markets	Significant other observable inputs		Unobservable inputs

(in thousands)	(Level 1)		(Level 2)		(Level 3)	(Level 1)	(Level 2)		(Level 3)
Fair Value
Assets:
Cash equivalents	$16,366		$-		$-	$5,189	$-		$-
Asset held for sale	-		-		5,078	-	-		4,988
Prepaid expenses and other current assets:
Foreign currency options	-		366		-	-	-		-
Other Assets:
Common stock of unaffiliated foreign public company	744	(a)	-		-	819	-		-
Liabilities:
Other noncurrent liabilities:
Interest rate swaps	-		4,336	(b)		-	(2,400	)^(c)

(a)

Original cost basis $0.5 million

(b)

Net of $13.4 million receivable floating leg and $17.8 million liability fixed leg

(c)

Net of $7.4 million receivable floating leg and $9.8 million liability fixed leg

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 (income)/expenses, net in the Consolidated Statements of Income were as follows:

	Three months ended June 30,		Six months ended June 30,
(in thousands)	2016	2015	2016	2015

Derivatives not designated as hedging instruments
Foreign currency options	$250	($92)	$455	$125

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References + Details

Contingencies (Tables)

6 Months Ended

Jun. 30, 2016

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	4,463	230	66	4,299	78
2014	4,299	625	147	3,821	437
2015	3,821	116	86	3,791	164
As of June 30, 2016	3,791	45	68	3,814	$47

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	$-
2006	9,566	1,182	730	9,114	-
2007	9,114	462	88	8,740	-
2008	8,740	86	10	8,664	-
2009	8,664	760	3	7,907	-
2010	7,907	47	9	7,869	-
2011	7,869	3	11	7,877	-
2012	7,877	12	2	7,867	-
2013	7,867	55	3	7,815	-
2014	7,815	87	2	7,730	-
2015	7,730	18	1	7,713	-
As of June 30, 2016	7,713	6	-	7,707	$-

- 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
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=25496072&loc=d3e14472-108349

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 460
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-URI http://asc.fasb.org/extlink&oid=6851643&loc=d3e12021-110248

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-Name Accounting Standards Codification
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+ Details

Changes in Shareholders' Equity (Tables)

6 Months Ended

Jun. 30, 2016

Stockholders' Equity Note [Abstract]

Schedule of Activity in Shareholders' Equity

The following table summarizes changes in Shareholders’ Equity:

(in thousands)	Common Stock Class A and B	Additional paid in capital	Retained earnings		Accumulated items of other comprehensive income/(loss)		Treasury stock		Noncontrolling Interest		Total Equity
December 31, 2015	$40	$423,108	$491,950		($158,844	)	($257,391	)	$3,690		$502,553
Net income	-	-	23,868		-		-		(451	)	23,417
Compensation and benefits paid or payable in shares	-	1,152	-		-		-		-		1,152
Options exercised	-	495	-		-		-		-		495
Shares issued to Directors'	-	166	-		-		214		-		380
Dividends declared	-	-	(10,911	)	-		-		-		(10,911	)
Cumulative translation adjustments	-	-	-		2,393		-		(1	)	2,392
Pension and postretirement liability adjustments	-	-	-		361		-		-		361
Derivative valuation adjustment	-	-	-		(4,245	)	-		-		(4,245	)
June 30, 2016	$40	$424,921	$504,907		($160,335	)	($257,177	)	$3,238		$515,594

Business Acquisition (Narrative) (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
	Apr. 08, 2016	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015	Jun. 18, 2015
Business Acquisition [Line Items]
Cash consideration for acquisition		$ 187,000		$ 187,000
Goodwill		$ 98,566		$ 98,566		$ 66,373
Credit Agreement [Member]
Business Acquisition [Line Items]
Proceeds from unsecured credit facility agreement	$ 550,000						$ 400,000
Harris Corporation's Composite Aerostructures Division [Member]
Business Acquisition [Line Items]
Cash consideration for acquisition	187,000
Goodwill	31,300
Albany Engineered Composites [Member]
Business Acquisition [Line Items]
Goodwill	$ 313,000

Business Acquisition (Summary of the provisional allocation of the purchase price of AAC) (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Apr. 08, 2016	Dec. 31, 2015
Assets acquired
Goodwill	$ 98,566		$ 66,373
Albany Aerostructures Composites LLC (AAC) [Member]
Assets acquired
Accounts receivable		$ 16,264
Inventories		29,739
Prepaid expenses and other current assets		402
Property, plant and equipment		85,802
Intangibles		59,360
Goodwill		31,327
Total assets acquired		222,894
Liabilities assumed
Accounts payable		8,745
Accrued liabilities		2,364
Capital lease obligation		23,815
Other noncurrent liabilities		970
Total liabilities assumed		35,894
Net assets acquired		$ 187,000

Business Acquisition (Summary of operational results of AAC) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2016	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Net sales		$ 203,190	$ 172,289	$ 375,521	$ 353,613
Operating income		17,857	3,038	40,126	23,187
Income before income taxes		16,183	(2,484)	36,542	18,274
Net Income attributable to the Company		$ 10,367	$ (2,172)	$ 23,868	$ 10,041
Earnings per share:
Basic		$ 0.32	$ (0.07)	$ 0.74	$ 0.31
Diluted		$ 0.32	$ (0.07)	$ 0.74	$ 0.31
Albany Aerostructures Composites LLC (AAC) [Member]
Net sales	$ 25,636
Operating income	1,709
Income before income taxes	1,266	$ 15,765	$ (1,798)	$ 38,915	$ 19,357
Net Income attributable to the Company	$ 760
Earnings per share:
Basic	$ 0.02
Diluted	$ 0.02

Business Acquisition (Summary of pro-forma information of AAC) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2016	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Combined Income/(loss) before income taxes		$ 16,183	$ (2,484)	$ 36,542	$ 18,274
Albany Aerostructures Composites LLC (AAC) [Member]
Combined Net sales		204,371	192,508	397,706	392,988
Combined Income/(loss) before income taxes	$ 1,266	15,765	(1,798)	38,915	19,357
Pro forma adjustments:
Acquisition expenses		3,771		5,367
Purchase accounting depreciation and amortization expense		(119)	(1,541)	(1,660)	(3,081)
Interest expense		(99)	(1,283)	(1,382)	(2,567)
Income/(loss) before income taxes		19,318	(4,622)	41,240	13,709
Net Income/(loss) attributable to the Company		$ 12,289	$ (3,380)	$ 26,748	$ 7,462
Pro forma earnings/(loss) per share attributable to Company shareholders:
Basic		$ 0.38	$ (0.11)	$ 0.83	$ 0.23
Diluted		$ 0.38	$ (0.11)	$ 0.83	$ 0.23

Reportable Segments (Schedule of Financial Data by Reporting Segment) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Segment Reporting Information [Line Items]
Net sales	$ 203,190	$ 172,289	$ 375,521	$ 353,613
Operating income/(loss)	17,857	3,038	40,126	23,187
Interest expense	3,691	2,702	5,929	5,378
Other income, net	(2,017)	2,820	(2,345)	(465)
Income before income taxes	16,183	(2,484)	36,542	18,274
Capital expenditures including amounts that were included in accounts payable			30,900
Adjustment to capital expenditures and accounts payable amounts in cash flows to reflect non-cash amount			2,100
Acquisition related costs	5,400		5,400
Machine Clothing [Member]
Segment Reporting Information [Line Items]
Net sales	148,934	150,561	294,197	309,055
Operating income/(loss)	35,405	33,323	72,543	69,013
Albany Engineered Composites [Member]
Segment Reporting Information [Line Items]
Net sales	54,256	21,728	81,324	44,558
Operating income/(loss)	(5,848)	(18,633)	(9,553)	(22,444)
Corporate Expenses [Member]
Segment Reporting Information [Line Items]
Operating income/(loss)	(11,700)	(11,652)	(22,864)	(23,382)
Significant Reconciling Items [Member]
Segment Reporting Information [Line Items]
Interest income	(547)	(437)	(673)	(777)
Interest expense	4,238	3,139	6,602	6,155
Other income, net	$ (2,017)	$ 2,820	$ (2,345)	$ (465)

Reportable Segments (Schedule of Restructuring Costs by Reporting Segment) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Restructuring expense
Restructuring expense	$ 6,648	$ 1,211	$ 7,327	$ 10,212
Machine Clothing [Member]
Restructuring expense
Restructuring expense	5,434	1,211	6,132	10,212
Albany Engineered Composites [Member]
Restructuring expense
Restructuring expense	1,147		1,147
Corporate Expenses [Member]
Restructuring expense
Restructuring expense	$ 67		$ 48

Pensions and Other Postretirement Benefit Plans (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 1,319	$ 1,529
Interest cost	4,049	3,895
Expected return on assets	(4,482)	(4,326)
Amortization of prior service cost/(credit)	19	24
Amortization of net actuarial loss	1,164	1,297
Net periodic benefit cost	2,069	2,419
Other Postretirement Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	127	166
Interest cost	1,221	1,220
Expected return on assets
Amortization of prior service cost/(credit)	(2,244)	(2,244)
Amortization of net actuarial loss	1,410	1,669
Net periodic benefit cost	$ 514	$ 811

Restructuring (Narrative) (Details) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
Restructuring (Narrative) (Details) $ in Thousands	Jun. 30, 2016 USD ($)	Jun. 30, 2015 USD ($)	Jun. 30, 2016 USD ($) Positions	Jun. 30, 2015 USD ($)	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)
Reduction in positions from restructuring \| Positions			25
Accrued liabilities for restructuring charges	$ 10,200		$ 10,200
Restructuring reserve, noncurrent	2,000		2,000
Restructuring expenses, net	6,648	$ 1,211	7,327	$ 10,212
Scenario, Forecast [Member]
Payments for restructuring					$ 20,000	$ 10,200
Machine Clothing [Member]
Restructuring expenses, net	5,434	$ 1,211	$ 6,132	$ 10,212
Machine Clothing [Member] \| Relocation of Equipment From Germany [Member]
Restructuring expenses, net	$ 1,800

Restructuring (Schedule of Restructuring Charges) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Restructuring and other, net
Restructuring expenses, net	$ 6,648	$ 1,211	$ 7,327	$ 10,212
Termination and Other Costs [Member]
Restructuring and other, net
Restructuring expenses, net			6,801	10,212
Impairment of Plant and Equipment [Member]
Restructuring and other, net
Restructuring expenses, net			526
Machine Clothing [Member]
Restructuring and other, net
Restructuring expenses, net	5,434	1,211	6,132	10,212
Machine Clothing [Member] \| Termination and Other Costs [Member]
Restructuring and other, net
Restructuring expenses, net			5,832	10,212
Machine Clothing [Member] \| Impairment of Plant and Equipment [Member]
Restructuring and other, net
Restructuring expenses, net			300
Albany Engineered Composites [Member]
Restructuring and other, net
Restructuring expenses, net	1,147		1,147
Albany Engineered Composites [Member] \| Termination and Other Costs [Member]
Restructuring and other, net
Restructuring expenses, net			921
Albany Engineered Composites [Member] \| Impairment of Plant and Equipment [Member]
Restructuring and other, net
Restructuring expenses, net			226
Corporate Expenses [Member]
Restructuring and other, net
Restructuring expenses, net	$ 67		48
Corporate Expenses [Member] \| Termination and Other Costs [Member]
Restructuring and other, net
Restructuring expenses, net			48	10,212
Corporate Expenses [Member] \| Impairment of Plant and Equipment [Member]
Restructuring and other, net
Restructuring expenses, net

Restructuring (Schedule of Restructuring Liability) (Details) - Termination Costs [Member] - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Restructuring Reserve [Roll Forward]
Beginning balance	$ 10,177	$ 1,874
Restructuring charges accrued	6,801	10,212
Payments	(6,835)	(9,229)
Currency translation/other	13	(192)
Ending balance	$ 10,156	$ 2,665

Other Income, net (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Other Income, net (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Other Income and Expenses [Abstract]
Currency transaction (gains)/losses	$ (1,571)	$ 1,878	$ (2,049)	$ (549)
Bank fees and amortization of debt issuance costs	394	234	546	545
Gain on sale of investment				(872)
Other	(840)	708	(842)	411
Total	$ (2,017)	$ 2,820	$ (2,345)	$ (465)

Income Taxes (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
Income Taxes (Narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2009	Apr. 30, 2016
Income Tax Disclosure [Line Items]
Net increase from the reevaluation of uncertain tax positions arising in examinations			$ 0.0
Net decrease from the reevaluation of uncertain tax positions arising in examinations			$ 2.3
Income Tax Expense Benefit Estimated Tax Rate			38.70%	43.50%
Final settlement with tax authority								$ 3.7
Earliest Tax Year [Member]
Income Tax Disclosure [Line Items]
Open tax years			2007
Latest Tax Year [Member]
Income Tax Disclosure [Line Items]
Open tax years			2015
Scenario, Plan [Member]
Income Tax Disclosure [Line Items]
Foreign Earnings Repatriated			$ 59.0
Federal Ministry of Finance, Germany [Member]
Income Tax Disclosure [Line Items]
Payment to taxing authority to pursue litigation							$ 14.5
Recognized current and deferred tax benefits			$ 0.5
Adjustment of certain deferred tax assets	$ 0.6	$ 5.8			$ 6.4	$ 6.3

Income Taxes (Schedule of Components of Income Tax Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Income Tax Disclosure [Abstract]
Income tax based on income/(loss) from continuing operations, at estimated tax rates of 38.7% and 43.5%, respectively	$ 6,258	$ (1,080)	$ 14,131	$ 7,956
Effect of change in estimated tax rate	(203)	736
Income tax expense/(benefit) before discrete items	6,055	(344)	14,131	7,956
Discrete tax expense/(benefit):
Provision for/resolution of tax audits and contingencies, net		85	(825)	168
Adjustments to prior period tax liabilities		(105)	(243)	(60)
Other discrete tax adjustments, net	27		62
Enacted tax legislation				91
Total income tax expense/(benefit)	$ 6,082	$ (364)	$ 13,125	$ 8,155

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Earnings Per Share [Abstract]
Net income/(loss) attributable to the Company	$ 10,367	$ (2,172)	$ 23,868	$ 10,041
Weighted average number of shares:
Weighted average number of shares used in calculating basic net income per share	32,093	31,999	32,067	31,941
Effect of dilutive stock-based compensation plans:
Stock options	38		39	74
Weighted average number of shares used in calculating diluted net income per share	32,131	31,999	32,106	32,015
Shares related to stock-based compensation plans that were not included in the computation of diluted earnings per share because to do so would be antidilutive		56
Average market price of common stock used for calculation of dilutive shares	$ 39.47	$ 40.12	$ 37.40	$ 38.76
Earnings/(loss) per share attributable to Company shareholders:
Basic	0.32	(0.07)	0.74	0.31
Diluted	$ 0.32	$ (0.07)	$ 0.74	$ 0.31

Noncontrolling Interest (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Noncontrolling Interest (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Noncontrolling Interest [Line Items]
Net (loss)/income of Albany Safran Composites (ASC)	$ 10,101	$ (2,120)	$ 23,417	$ 10,119
Net (loss)/income of ASC available for common ownership	10,367	(2,172)	23,868	10,041
Net (loss)/income attributable to noncontrolling interest	(266)	52	(451)	78
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Noncontrolling interest, beginning of year			3,690
Net (loss)/income attributable to noncontrolling interest	(266)	$ 52	(451)	78
Noncontrolling interest	$ 3,238		3,238
Albany Safran Composites, LLC [Member]
Noncontrolling Interest [Line Items]
Net (loss)/income of Albany Safran Composites (ASC)			(4,033)	1,282
Less: Return attributable to the Company's preferred holding			480	507
Net (loss)/income of ASC available for common ownership			(4,513)	775
Net (loss)/income attributable to noncontrolling interest			$ (451)	$ 78
Ownership interest in ASC	10.00%	10.00%	10.00%	10.00%
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Noncontrolling interest, beginning of year			$ 3,690	$ 3,699
Net (loss)/income attributable to noncontrolling interest			(451)	78
Changes in other comprehensive income attributable to noncontrolling interest			(1)	1
Noncontrolling interest	$ 3,238	$ 3,778	$ 3,238	$ 3,778

Accumulated Other Comprehensive Income (AOCI) (Schedule of Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	$ 498,863
Ending balance	512,356
Translation Adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(108,655)	$ (55,240)
Other comprehensive income/(loss) before reclassifications	2,393	(26,023)
Pension/postretirement plan remeasurements, net of tax
Interest expense related to swaps reclassified to the Statement of Income, net of tax
Pension and postretirement liability adjustments reclassified to Statement of Income, net of tax
Net current period other comprehensive income/(loss)	2,393	(26,023)
Ending balance	(106,262)	(81,263)
Pension and Postretirement Liability Adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(48,725)	(51,666)
Other comprehensive income/(loss) before reclassifications	12	1,125
Pension/postretirement plan remeasurements, net of tax	105
Interest expense related to swaps reclassified to the Statement of Income, net of tax
Pension and postretirement liability adjustments reclassified to Statement of Income, net of tax	244	485
Net current period other comprehensive income/(loss)	361	1,610
Ending balance	(48,364)	(50,056)
Derivative Valuation Adjustment [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(1,464)	(861)
Other comprehensive income/(loss) before reclassifications	(4,608)	(744)
Pension/postretirement plan remeasurements, net of tax
Interest expense related to swaps reclassified to the Statement of Income, net of tax	363	581
Pension and postretirement liability adjustments reclassified to Statement of Income, net of tax
Net current period other comprehensive income/(loss)	(4,245)	(163)
Ending balance	(5,709)	(1,024)
Accumulated Other Comprehensive Income (Loss) [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(158,844)	(107,767)
Other comprehensive income/(loss) before reclassifications	(2,203)	(25,642)
Pension/postretirement plan remeasurements, net of tax	105
Interest expense related to swaps reclassified to the Statement of Income, net of tax	363	581
Pension and postretirement liability adjustments reclassified to Statement of Income, net of tax	244	485
Net current period other comprehensive income/(loss)	(1,491)	(24,576)
Ending balance	$ (160,335)	$ (132,343)

Accumulated Other Comprehensive Income (AOCI) (Schedule of Items Reclassified to Statement of Income) (Details) - USD ($)
$ in Thousands

3 Months Ended

6 Months Ended

Jun. 30, 2016

Jun. 30, 2015

Jun. 30, 2016

Jun. 30, 2015

Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]

Payments made on interest rate swaps included in income before taxes

$ 3,691

$ 2,702

$ 5,929

$ 5,378

Total pretax amount reclassified

16,183

(2,484)

36,542

18,274

Income tax effect

6,082

(364)

13,125

8,155

Effect on net income due to items reclassified from Accumulated Other Comprehensive Income

(10,367)

2,172

(23,868)

(10,041)

Reclassification out of Accumulated Other Comprehensive Income [Member] | Derivative Valuation Adjustment [Member]

Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]

Payments made on interest rate swaps included in income before taxes

^[1]

305

467

586

953

Income tax effect

(116)

(182)

(223)

(372)

Effect on net income due to items reclassified from Accumulated Other Comprehensive Income

189

285

363

581

Reclassification out of Accumulated Other Comprehensive Income [Member] | Pension and Postretirement Liability Adjustments [Member]

Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]

Total pretax amount reclassified

^[2]

184

350

349

746

Income tax effect

(56)

(122)

(105)

(261)

Effect on net income due to items reclassified from Accumulated Other Comprehensive Income

128

228

244

485

Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Defined Benefit Plans Adjustment, Net Prior Service Cost (Credit) [Member]

Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]

Total pretax amount reclassified

(1,112)

(1,111)

(2,225)

(2,220)

Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Defined Benefit Plans Adjustment, Net Unamortized Gain (Loss) [Member]

Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]

Total pretax amount reclassified

$ 1,296

$ 1,461

$ 2,574

$ 2,966

[1]	Included in Interest expense.
[2]	These accumulated other comprehensive income/(loss) components are included in the computation of net periodic pension cost (see Note 4).

Accounts Receivable (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Receivables [Abstract]
Trade and other accounts receivable	$ 150,232	$ 123,179
Bank promissory notes	15,017	15,845
Revenue in excess of progress billings	19,326	15,889
Allowance for doubtful accounts	(8,239)	(8,530)
Total accounts receivable	$ 176,336	$ 146,383

Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Inventory Disclosure [Abstract]
Raw materials	$ 36,612	$ 27,636
Work in process	68,142	41,823
Finished goods	40,617	36,947
Total inventories	$ 145,371	$ 106,406

Goodwill and Other Intangible Assets (Narrative) (Details) - USD ($) $ in Thousands		6 Months Ended
	Apr. 08, 2016	Jun. 30, 2016	Dec. 31, 2015
Goodwill		$ 98,566	$ 66,373
Customer Relationships [Member]
Estimated useful life		19 years
Customer Contracts [Member]
Estimated useful life		6 years
Other Intangible Assets [Member] \| Minimum [Member]
Estimated useful life		7 years
Other Intangible Assets [Member] \| Maximum [Member]
Estimated useful life		22 years
Harris Corporation's Composite Aerostructures Division [Member]
Acquired amortizable intangible assets	$ 59,400
Goodwill	$ 31,300

Goodwill and Other Intangible Assets (Schedule of Changes in Intangible Assets and Goodwill) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2016 USD ($)
Amortized intangible assets:
Beginning balance	$ 154
Assets Acquired	59,360
Amortization	(1,189)
Currency Translation
Ending balance	58,325
Goodwill
Beginning balance	66,373
Assets Acquired Aprill 8, 2016	31,327
Amortization
Currency translation	866
Ending balance	98,566
AEC Trade Names [Member]
Amortized intangible assets:
Beginning balance	25
Assets Acquired
Amortization	(2)
Currency Translation
Ending balance	23
AEC Technology [Member]
Amortized intangible assets:
Beginning balance	129
Assets Acquired
Amortization	(12)
Currency Translation
Ending balance	117
Customer Relationships [Member]
Amortized intangible assets:
Beginning balance
Assets Acquired	40,740
Amortization	(495)
Currency Translation
Ending balance	40,245
Customer Contracts [Member]
Amortized intangible assets:
Beginning balance
Assets Acquired	16,900
Amortization	(650)
Currency Translation
Ending balance	16,250
Other Intangible Assets [Member]
Amortized intangible assets:
Beginning balance
Assets Acquired	1,720
Amortization	(30)
Currency Translation
Ending balance	1,690
MC Goodwill [Member]
Goodwill
Beginning balance	66,373
Assets Acquired Aprill 8, 2016
Amortization
Currency translation	866
Ending balance	67,239
AEC Goodwill [Member]
Goodwill
Beginning balance
Assets Acquired Aprill 8, 2016	31,327
Amortization
Currency translation
Ending balance	$ 31,327

Goodwill and Other Intangible Assets (Schedule of Estimated Amortization Expense) (Details) $ in Thousands	Jun. 30, 2016 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2016	$ 3,850
2017	5,100
2018	5,100
2019	5,100
2020	$ 5,100

Financial Instruments (Narrative) (Details) - USD ($) $ in Millions		6 Months Ended
	Mar. 16, 2016	Jun. 30, 2016	Jun. 16, 2016	May 16, 2016	May 09, 2016	Apr. 08, 2016	Dec. 31, 2015	Jun. 18, 2015
Debt Instrument [Line Items]
Maximum leverage ratio allowed		3.50
Minimum interest coverage ratio required		3.00
Leverage ratio		2.31
Interest coverage ratio		14.18
AAC [Member]
Debt Instrument [Line Items]
Interest rate		8.00%
Maturity date		Dec. 31, 2027
Private Placement, Notes [Member]
Debt Instrument [Line Items]
Interest rate		6.84%					6.84%
Maturity date		Oct. 25, 2017
Payment required on October 25, 2017		$ 50.0
Fair value of long-term debt		54.1
Credit Agreement [Member]
Debt Instrument [Line Items]
Amount of credit facility						$ 550.0		$ 400.0
Amount of credit facility outstanding		412.0
Additional amount that can be borrowed on facility		$ 138.0
LIBOR spread	1.50%
Interest rate at end of period		2.53%					2.27%
Credit Agreement [Member] \| Interest Rate Current Swap [Member]
Debt Instrument [Line Items]
Borrowings, revolving credit facility				$ 120.0
Notional amount					$ 300.0
Fixed interest rate in swap			2.745%		1.245%
LIBOR rate			0.45%
Amount paid to terminate agreement				$ 5.2
Credit Agreement [Member] \| Minimum [Member]
Debt Instrument [Line Items]
LIBOR spread		1.25%
Credit Agreement [Member] \| Maximum [Member]
Debt Instrument [Line Items]
LIBOR spread		1.75%

Financial Instruments (Schedule of Long-Term Debt) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Long-term debt	$ 485,781	$ 265,096
Less: current portion	(566)	(16)
Long-term debt, net of current portion	485,215	265,080
Private Placement, Notes [Member]
Debt Instrument [Line Items]
Long-term debt	$ 50,000	$ 50,000
Interest rate	6.84%	6.84%
Maturity date range, end	Dec. 31, 2017
Credit Agreement [Member]
Debt Instrument [Line Items]
Long-term debt	$ 412,000	$ 215,000
Interest rate at end of period	2.53%	2.27%
Various Notes and Mortgages [Member]
Debt Instrument [Line Items]
Long-term debt	$ 88	$ 96
Interest rate at end of period	5.50%	5.50%
Maturity date range, end	Dec. 31, 2021
Obligation under Capital Lease [Member]
Debt Instrument [Line Items]
Long-term debt	$ 23,693
Maturity date range, end	Dec. 31, 2027

Financial Instruments (Schedule of future minimum annual lease payments) (Details) $ in Thousands	Jun. 30, 2016 USD ($)
Long-term Debt and Capital Lease Obligations [Abstract]
2016	$ 1,213
2017	2,425
2018	2,473
2019	2,473
2020	2,520
Thereafter	18,754
Total minimum lease payments	29,858
Less: Amount representing interest	6,165
Present value of minimum lease payments	$ 23,693

Fair-Value Measurements (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Derivative [Line Items]
Interest expense	$ 3,691	$ 2,702	$ 5,929	$ 5,378
Interest Rate Current Swap [Member]
Derivative [Line Items]
Interest expense			600	1,000
Interest Rate Swap Buyouts [Member]
Derivative [Line Items]
Interest expense			$ 100

Fair-Value Measurements (Schedule of Fair Value of Financial Assets and Liabilities) (Details) - USD ($)
$ in Thousands

Jun. 30, 2016

Dec. 31, 2015

Interest Rate Current Swap [Member]

Derivative liability:

Liability for fixed rate leg

$ 17,800

$ 9,800

Receivable for floating rate leg

13,400

7,400

Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets (Level 1) [Member]

Assets:

Cash equivalents

16,366

5,189

Assets held for sale

Foreign currency options

Common stock of unaffiliated foreign public company

744

^[1]

819

Liabilities:

Interest rate swaps

Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member]

Assets:

Cash equivalents

Assets held for sale

Foreign currency options

366

Common stock of unaffiliated foreign public company

Liabilities:

Interest rate swaps

4,336

^[2]

(2,400)

^[3]

Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member]

Assets:

Cash equivalents

Assets held for sale

5,078

4,988

Foreign currency options

Common stock of unaffiliated foreign public company

Liabilities:

Interest rate swaps

[1]	Original cost basis $0.5 million
[2]	Net of $13.4 million receivable floating leg and $17.8 million liability fixed leg
[3]	Net of $7.4 million receivable floating leg and $9.8 million liability fixed leg

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, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Fair Value Disclosures [Abstract]
(Losses)/gains recognized in income, net	$ 250	$ (92)	$ 455	$ 125

Contingencies (Schedule of Changes in Claims) (Details) - Asbestos Litigation [Member] $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2016 USD ($) claims	Dec. 31, 2015 USD ($) claims	Dec. 31, 2014 USD ($) claims	Dec. 31, 2013 USD ($) 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	3,791	3,821	4,299	4,463	4,446	5,170	8,945	18,385	18,798	19,416	24,451	29,411
Claims Dismissed, Settled, or Resolved	45	116	625	230	90	789	3,963	9,482	523	808	6,841	6,257
New Claims	68	86	147	66	107	65	188	42	110	190	1,806	1,297
Closing Number of Claims	3,814	3,791	3,821	4,299	4,463	4,446	5,170	8,945	18,385	18,798	19,416	24,451
Amounts Paid (thousands) to Settle or Resolve ($) \| $	$ 47	$ 164	$ 437	$ 78	$ 530	$ 1,111	$ 159	$ 88	$ 52	$ 15	$ 3,879	$ 504
Brandon Drying Fabrics, Inc. [Member]
Loss Contingencies [Line Items]
Opening Number of Claims	7,713	7,730	7,815	7,867	7,877	7,869	7,907	8,664	8,740	9,114	9,566	9,985
Claims Dismissed, Settled, or Resolved	6	18	87	55	12	3	47	760	86	462	1,182	642
New Claims		1	2	3	2	11	9	3	10	88	730	223
Closing Number of Claims	7,707	7,713	7,730	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 ($) \| $

Contingencies (Narrative) (Details) - Asbestos Litigation [Member] $ in Millions	Jun. 30, 2016 USD ($) claims policies	Jan. 31, 2014	Dec. 31, 2003
Loss Contingencies [Line Items]
Total resolved claims, by means of settlement or dismissal \| claims	37,386
Total cost of resolution	$ 94.5
Resolution costs paid by insurance carrier	100.00%
Number of policies \| policies	23
Confirmed insurance coverage	$ 140.0
Policies Exhausted [Member]
Loss Contingencies [Line Items]
Number of policies \| policies	2
Other Available Policies [Member]
Loss Contingencies [Line Items]
Confirmed insurance coverage	$ 3.0
Brandon Drying Fabrics, Inc. [Member]
Loss Contingencies [Line Items]
Total resolved claims, by means of settlement or dismissal \| claims	9,899
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%

Shareholders' Equity (Schedule of Activity in Shareholders' Equity) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Balance			$ 502,553
Net income	$ 10,101	$ (2,120)	23,417	$ 10,119
Compensation and benefits paid or payable in shares			1,152
Options exercised			495
Shares issued to Directors'			380
Dividends declared			(10,911)
Cumulative translation adjustments			2,392
Pension and postretirement liability adjustments			361
Derivative valuation adjustment			(4,245)
Balance	515,594		515,594
Common Stock [Member]
Balance			40
Net income
Compensation and benefits paid or payable in shares
Options exercised
Shares issued to Directors'
Dividends declared
Cumulative translation adjustments
Pension and postretirement liability adjustments
Derivative valuation adjustment
Balance	40		40
Additional Paid-in Capital [Member]
Balance			423,108
Net income
Compensation and benefits paid or payable in shares			1,152
Options exercised			495
Shares issued to Directors'			166
Dividends declared
Cumulative translation adjustments
Pension and postretirement liability adjustments
Derivative valuation adjustment
Balance	424,921		424,921
Retained Earnings [Member]
Balance			491,950
Net income			23,868
Compensation and benefits paid or payable in shares
Options exercised
Shares issued to Directors'
Dividends declared			(10,911)
Cumulative translation adjustments
Pension and postretirement liability adjustments
Derivative valuation adjustment
Balance	504,907		504,907
Accumulated Other Comprehensive Income (Loss) [Member]
Balance			(158,844)
Net income
Compensation and benefits paid or payable in shares
Options exercised
Shares issued to Directors'
Dividends declared
Cumulative translation adjustments			2,393
Pension and postretirement liability adjustments			361
Derivative valuation adjustment			(4,245)
Balance	(160,335)		(160,335)
Treasury Stock [Member]
Balance			(257,391)
Net income
Compensation and benefits paid or payable in shares
Options exercised
Shares issued to Directors'			214
Dividends declared
Cumulative translation adjustments
Pension and postretirement liability adjustments
Derivative valuation adjustment
Balance	(257,177)		(257,177)
Noncontrolling Interest [Member]
Balance			3,690
Net income			(451)
Compensation and benefits paid or payable in shares
Options exercised
Shares issued to Directors'
Dividends declared
Cumulative translation adjustments			(1)
Pension and postretirement liability adjustments
Derivative valuation adjustment
Balance	$ 3,238		$ 3,238