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Document and Entity Information - USD ($) shares in Millions, $ in Billions	12 Months Ended
	Dec. 31, 2017	Jan. 31, 2018	Jun. 30, 2017
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2017
Entity Registrant Name	ALBANY INTERNATIONAL CORP /DE/
Entity Central Index Key	0000819793
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2017
Document Fiscal Period Focus	FY
Entity Filer Category	Large Accelerated Filer
Entity Public Float			$ 1.5
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	Yes
Entity Current Reporting Status	Yes
Common Class A [Member]
Entity Common Stock, Shares Outstanding		29.0
Common Class B [Member]
Entity Common Stock, Shares Outstanding		3.2

Consolidated Statements of Income - USD ($) $ in Thousands	12 Months Ended
Consolidated Statements of Income - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Statement [Abstract]
Net sales	$ 863,717	$ 779,839	$ 709,868
Cost of goods sold	567,937	479,271	431,182
Gross profit	295,780	300,568	278,686
Selling, general and administrative expenses	164,964	160,112	146,192
Technical and research expenses	41,174	40,304	44,753
Restructuring expenses, net	13,491	8,376	23,846
Operating income	76,151	91,776	63,895
Interest income	(1,511)	(2,077)	(1,857)
Interest expense	18,602	15,541	11,841
Other expense, net	4,352	46	2,433
Income before income taxes	54,708	78,266	51,478
Income tax expense/(benefit)	22,123	25,454	(5,787)
Net income	32,585	52,812	57,265
Net (loss)/income attributable to the noncontrolling interest	(526)	79	(14)
Net income attributable to the Company	$ 33,111	$ 52,733	$ 57,279
Earnings per share attributable to Company shareholders - Basic	$ 1.03	$ 1.64	$ 1.79
Earnings per share attributable to Company shareholders - Diluted	1.03	1.64	1.79
Dividends declared per share, Class A and Class B	$ 0.68	$ 0.68	$ 0.67

Consolidated Statements of Comprehensive Income/(Loss) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Statement of Comprehensive Income [Abstract]
Net income	$ 32,585	$ 52,812	$ 57,265
Other comprehensive income/(loss), before tax:
Foreign currency translation adjustments	44,162	(23,967)	(51,177)
Pension/postretirement settlements and curtailments		51	103
Pension/postretirement plan remeasurement	2,955	(5,498)	(700)
Amortization of pension liability adjustments:
Prior service credit	(4,453)	(4,450)	(4,440)
Net actuarial loss	5,439	5,102	5,932
Payments related to interest rate swaps included in earnings	1,490	2,400	1,988
Derivative valuation adjustment	325	1,297	(2,961)
Income taxes related to items of other comprehensive income/(loss):
Pension/postretirement settlements and curtailments		(6)
Pension/postretirement plan remeasurement	(918)	1,104	78
Amortization of pension liability adjustments	(22)	27	(270)
Payments related to interest rate swaps included in earnings	(566)	(912)	(755)
Derivative valuation adjustment	(124)	(493)	1,125
Comprehensive income	80,873	27,467	6,188
Comprehensive (loss)/income attributable to the noncontrolling interest	(520)	77	(9)
Comprehensive income attributable to the Company	$ 81,393	$ 27,390	$ 6,197

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 183,727	$ 181,742
Accounts receivable, net	202,675	171,193
Inventories	136,519	133,906
Income taxes prepaid and receivable	6,266	5,213
Prepaid expenses and other current assets	14,520	9,251
Total current assets	543,707	501,305
Property, plant and equipment, net	454,302	422,564
Intangibles, net	55,441	66,454
Goodwill	166,796	160,375
Deferred income taxes	68,648	68,865
Contract receivables	32,811	14,045
Other assets	39,493	29,825
Total assets	1,361,198	1,263,433
Current liabilities:
Notes and loans payable	262	312
Accounts payable	44,899	43,305
Accrued liabilities	105,914	95,195
Current maturities of long-term debt	1,799	51,666
Income taxes payable	8,643	9,531
Total current liabilities	161,517	200,009
Long-term debt	514,120	432,918
Other noncurrent liabilities	101,555	106,827
Deferred taxes and other liabilities	10,991	12,389
Total liabilities	788,183	752,143
Shareholders' Equity
Preferred stock, par value $5.00 per share; authorized 2,000,000 shares; none issued
Additional paid-in capital	428,423	425,953
Retained earnings	534,082	522,855
Accumulated items of other comprehensive income:
Translation adjustments	(87,318)	(133,298)
Pension and postretirement liability adjustments	(50,536)	(51,719)
Derivative valuation adjustment	1,953	828
Treasury stock (Class A), at cost; 8,431,335 shares in 2017 and 8,443,444 shares in 2016	(256,876)	(257,136)
Total Company shareholders' equity	569,768	507,523
Noncontrolling interest	3,247	3,767
Total equity	573,015	511,290
Total liabilities and shareholders' equity	1,361,198	1,263,433
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	Dec. 31, 2017	Dec. 31, 2016
Preferred Stock, par value per share	$ 5.00	$ 5.00
Preferred Stock, shares authorized	2,000,000	2,000,000
Preferred Stock, shares issued	0	0
Common Stock, shares outstanding	32,200,000	32,100,000
Treasury stock, shares	8,431,335	8,443,444
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	37,395,753	37,319,266
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	3,233,998	3,233,998
Common Stock, shares outstanding	3,233,998	3,233,998

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Operating Activities
Net income	$ 32,585	$ 52,812	$ 57,265
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	61,517	58,106	52,974
Amortization	10,439	9,355	7,140
Change in other noncurrent liabilities	(10,145)	(5,232)	3,608
Change in deferred taxes and other liabilities	(1,264)	5,889	(29,517)
Provision for write-off of property, plant and equipment	2,870	2,778	867
Fair value adjustment on available-for-sale assets			3,212
Gain on disposition or involuntary conversion of assets			(1,056)
Non-cash interest expense	660	564
Write-off of pension liability adjustment due to settlement		51	103
Compensation and benefits paid or payable in Class A Common Stock	2,133	2,433	1,707
Write-off of intangible assets in a discontinued product line	4,149
Changes in operating assets and liabilities that provide/(use) cash, net of impact of business acquisition:
Accounts receivable	(21,859)	(12,697)	(404)
Inventories	3,090	(12,520)	(8,277)
Prepaid expenses and other current assets	(4,989)	(2,595)	1,253
Income taxes prepaid and receivable	(941)	(2,206)	(3,156)
Contract receivable	(18,766)	(14,045)
Accounts payable	2,910	2,108	(6,001)
Accrued liabilities	5,303	1,312	2,081
Income taxes payable	(799)	1,398	9,072
Other, net	(2,677)	(6,571)	7,139
Net cash provided by operating activities	64,216	80,940	98,010
Investing Activities
Purchase of business, net of cash acquired		(187,000)
Purchases of property, plant and equipment	(85,510)	(71,244)	(48,622)
Purchased software	(2,127)	(2,248)	(1,973)
Proceeds from sale or involuntary conversion of assets		6,939	2,797
Net cash used in investing activities	(87,637)	(253,553)	(47,798)
Financing Activities
Proceeds from borrowings	115,334	235,907	95,126
Principal payments on debt	(84,047)	(34,356)	(102,215)
Debt acquisition costs	(2,130)	(1,771)	(1,673)
Cash received/(paid) to settle swap agreements	6,346	(5,175)
Proceeds from options exercised	597	517	1,897
Taxes paid in lieu of share issuance	(1,364)	(1,272)	(1,449)
Dividends paid	(21,869)	(21,812)	(21,088)
Net cash provided by/(used in) financing activities	12,867	172,038	(29,402)
Effect of exchange rate changes on cash and cash equivalents	12,539	(2,796)	(15,499)
Increase/(decrease) in cash and cash equivalents	1,985	(3,371)	5,311
Cash and cash equivalents at beginning of year	181,742	185,113	179,802
Cash and cash equivalents at end of year	$ 183,727	$ 181,742	$ 185,113

Accounting Policies

12 Months Ended

Dec. 31, 2017

Accounting Policies [Abstract]

Accounting Policies

1. Accounting Policies

Basis of Consolidation

The consolidated financial statements include the accounts of Albany International Corp. and its subsidiaries (the Company, Albany, we, us, or our) after elimination of intercompany transactions. We have a 50 percent interest in an entity in Russia. The consolidated financial statements include our original investment in the entity, plus our share of undistributed earnings or losses, in the account “Other Assets.”

The Company owns 90 percent of the common equity of Albany Safran Composites, LLC (ASC) which is reported within the Albany Engineered Composites (AEC) segment. Additional information regarding that entity is included in Note 10.

Estimates

The preparation of the consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Estimates are used in accounting for, among other things, revenue recognition, contract profitability, allowances for doubtful accounts, rebates and sales allowances, inventory allowances, pension benefits, goodwill and intangible assets, contingencies, income tax related balances, and other accruals. Our estimates are based on historical experience and on various other assumptions, which are believed to be reasonable under the circumstances. Due to the inherent uncertainty involved in making estimates, actual results reported in future periods may differ from those estimates. Estimates and assumptions are reviewed periodically, and the effects of any revisions are reflected in the consolidated financial statements in the period they are determined to be necessary.

Revenue Recognition

For sales that are recognized at a point in time, we record sales when persuasive evidence of an arrangement exists, delivery has occurred, title has been transferred, the selling price is fixed, and collectability is reasonably assured. We include in revenue any amounts invoiced for shipping and handling. The timing of revenue recognition is dependent upon the contractual arrangement with customers. These arrangements, which may include provisions for transfer of title and guarantees of workmanship, are specific to each customer. Some of these contracts provide for a transfer of title upon delivery, or upon reaching a specific date, while other contracts provide for title transfer to occur upon consumption of the product.

Products and services provided under long-term contracts represent a significant portion of sales in the Albany Engineered Composites segment. We have a contract with a major customer for which revenue is recognized under a cost, plus a defined profit margin. We also have fixed price long-term contracts, for which we use the percentage of completion method (actual cost to estimated cost, or units of delivery). Accounting for long-term contracts requires significant judgment and estimation, which could be considerably different if the underlying circumstances were to change. When adjustments in estimated contract revenues or costs are required, any changes from prior estimates are included in earnings in the period the change occurs. In the second quarter of 2017, we recorded a $15.8 million charge to Cost of goods sold related to revisions on estimated profitability of our BR 725 and A380 programs, which included the write-off of $4.0 million of program inventory costs and a reserve of $11.8 million for additional anticipated losses. Later in 2017, we amended a long-term agreement with a licensor for the A380 program that resulted in a reduction to Cost of goods sold of $4.9 million. In 2015, we recorded a $14.0 million charge on our BR 725 contract, which included the write-off of $10.9 million of deferred contract costs and a reserve of $3.1 million for additional anticipated losses. Changes in estimates on contracts other than the profitability changes noted above, decreased gross profit by $0.6 million in 2017, increased gross profit by $1.5 million in 2016, and increased gross profit by $0.4 million in 2015. The Company includes contractual change orders and claims in the estimated value of customer contracts when there is a legal basis for such items and recovery is probable. As of December 31, 2017 and 2016, the value of change orders and claims that was included in estimated contract value was not significant. For contracts with anticipated losses at completion, a provision for the entire amount of the estimated remaining loss is charged against income in the period in which the loss becomes known. Contract losses are determined considering all direct and indirect contract costs, exclusive of any selling, general or administrative cost allocations that are treated as period expenses.

For programs in which we use the units of delivery method, there are generally two phases: a phase during which the production part is designed and tested, and a phase of supplying production parts. Certain costs are capitalized during the first phase, such as costs for engineering, equipment, and inventory, where recovery is probable. Revenue is recognized during the second phase, as parts are delivered. Accumulated capitalized costs are written off when those costs are determined to be unrecoverable.

We limit the concentration of credit risk in receivables by closely monitoring credit and collection policies. We record allowances for sales returns as a deduction in the computation of net sales. Such provisions are recorded on the basis of written communication with customers and/or historical experience. Any value added taxes that are imposed on sales transactions are excluded from net sales.

Cost of Goods Sold

Cost of goods sold includes the cost of materials, provisions for obsolete inventories, labor and supplies, shipping and handling costs, depreciation of manufacturing facilities and equipment, purchasing, receiving, warehousing, and other expenses. Cost of goods sold also includes provisions for loss contracts and charges for the write-off of inventories that result from an exit activity.

Selling, General, Administrative, Technical, and Research Expenses

Selling, general, administrative, and technical expenses are primarily comprised of wages, benefits, travel, professional fees, revaluation of trade foreign currency balances, and other costs, and are expensed as incurred. Selling expense includes provisions for bad debts and costs related to contract acquisition. Research expenses are charged to operations as incurred and consist primarily of compensation, supplies, and professional fees incurred in connection with intellectual property. Total Company research expense was $30.7 million in 2017, $28.8 million in 2016, $31.7 million in 2015.

The Albany Engineered Composites segment participates in both Company-sponsored, and customer-funded research and development. Some customer-funded research and development may be on a cost-sharing basis and be considered a collaborative arrangement, in which case both parties are active participants and are exposed to the risks and rewards dependent on the success of the activity. In such cases, amounts charged to the customer are credited against research and development expense. While no such arrangements existed during the last three years, we may enter into such arrangements in the future. For customer-funded research and development in which we anticipate funding to exceed expenses, we include amounts charged to the customer in Net sales, while expenses are included in Cost of goods sold.

Restructuring Expense

We may incur expenses related to restructuring of our operations, which could include employee termination costs, costs to consolidate or close facilities, or costs to terminate contractual relationships. Restructuring expenses may also include impairment of Property, plant and equipment, as described below. Employee termination costs include the severance pay and social costs for periods after employee service is completed. Termination costs related to an ongoing benefit arrangement are recognized when the amount becomes probable and estimable. Termination costs related to a one-time benefit arrangement are recognized at the communication date to employees. Costs related to contract termination, relocation of employees, outplacement and the consolidation or the closure of facilities, are recognized when incurred.

Income Taxes

Deferred income taxes are recognized for the tax consequences of temporary differences by applying enacted statutory tax rates applicable for future years to differences between existing assets and liabilities for financial reporting and income tax return purposes. The effect of tax rate changes on deferred taxes is recognized in the income tax provision in the period that includes the enactment date. A valuation allowance is established, as needed, to reduce net deferred tax assets to the amount expected to be realized. In the event it becomes more likely than not that some or all of the deferred tax asset valuation allowances will not be needed, the valuation allowance will be adjusted.

In the ordinary course of business there is inherent uncertainty in quantifying our income tax positions. We assess our income tax positions and record tax benefits for all years subject to examination based upon management’s evaluation of the facts, circumstances, and information available at the reporting date. For those tax positions where it is more likely than not that a tax benefit will be sustained, we have determined the amount of the tax benefit to be recognized by estimating the largest amount of tax benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant information. For those income tax positions where it is not more-likely-than-not that a tax benefit will be sustained, no tax benefit has been recognized in the financial statements. Where applicable, associated interest and penalties have also been recognized. We recognize accrued interest and penalties related to unrecognized tax benefits as a component of income tax expense.

Earnings Per Share

Net income or loss per share is computed using the weighted average number of shares of Class A Common Stock and Class B Common Stock outstanding during each year. Diluted net income per share includes the effect of all potentially dilutive securities. If we report a net loss from continuing operations, the diluted loss is equal to the basic earnings per share calculation.

Translation of Financial Statements

Assets and liabilities of non-U.S. operations are translated at year-end rates of exchange, and the income statements are translated at average exchange rates. Gains or losses resulting from translating non-U.S. currency financial statements are recorded in other comprehensive income and accumulated in Shareholders’ equity in the caption “Translation adjustments”.

Selling, general, and administrative expenses include foreign currency gains and losses resulting from third party balances, such as receivables and payables, which are denominated in a currency other than the entity’s local currency. Gains or losses resulting from cash and short-term intercompany loans and balances denominated in a currency other than the entity’s local currency, and foreign currency options are generally included in Other expense/(income), net. Gains and losses on long-term intercompany loans not intended to be repaid in the foreseeable future are recorded in other comprehensive income.

The following table summarizes foreign currency transaction gains and losses recognized in the income statement:

(in thousands)	2017	2016	2015
Losses/(gains) included in:
Selling, general, and administrative expenses	$4,127	($381)	(5,090)
Other expense/(income), net	4,634	(3,532)	1,496
Total transaction losses/(gains)	$8,761	($3,913)	($3,594)

The following table presents foreign currency gains and losses on long-term intercompany loans that were recognized in Other comprehensive income:

(in thousands)		2017		2016		2015
Gain/(loss) on long-term intercompany loans		$1,867		$3,515		($5,225)

Cash and Cash Equivalents

Cash and cash equivalents consist of cash and highly liquid short-term investments with original maturities of three months or less.

Accounts Receivable

Accounts receivable includes trade receivables and revenue in excess of progress billings on long-term contracts in the Albany Engineered Composites 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 the allowance based on historical write-off experience, customer-specific facts and economic conditions. If the financial condition of the Company’s customers were to deteriorate, resulting in an impairment of their ability to make payments, additional allowances may be required.

As of December 31, 2017 and 2016, Accounts receivable consisted of the following:

(in thousands)	2017		2016
Trade and other accounts receivable	$152,375		$146,460
Bank promissory notes	20,255		15,759
Revenue in excess of progress billings	37,964		15,926
Allowance for doubtful accounts	(7,919	)	(6,952	)
Total accounts receivable	$202,675		$171,193

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.

The Company also has Contract receivables that are included in noncurrent assets, which represent revenue earned in 2017 and 2016. The Contract receivables will be invoiced to the customer, with 2 percent interest, over a 10 year period starting in 2020.

Inventories

Costs included in inventories are raw materials, labor, supplies and allocable depreciation and overhead. Raw material inventories are valued on an average cost basis. Other inventory cost elements are valued at cost, using the first-in, first out method. The Company writes down inventories for estimated obsolescence, and to the lower of cost or net realizable value based upon assumptions about future demand and market conditions. If actual demand or market conditions are less favorable than those projected by the Company, additional inventory write-downs may be required. Once established, the original cost of the inventory less the related write-down represents the new cost basis of such inventories. 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 December 31, 2017 and 2016, inventories consisted of the following:

(in thousands)	2017	2016
Raw materials	$42,215	$37,691
Work in process	65,448	58,715
Finished goods	28,856	37,500
Total inventories	$136,519	$133,906

Property, Plant and Equipment

Property, plant and equipment are recorded at cost, or if acquired as part of a business combination, at fair value. Depreciation is recorded using the straight-line method over the estimated useful lives of the assets for financial reporting purposes; in some cases, accelerated methods are used for income tax purposes. Significant additions or improvements extending assets’ useful lives are capitalized; normal maintenance and repair costs are expensed as incurred. The cost of fully depreciated assets remaining in use is included in the respective asset and accumulated depreciation accounts. When items are sold or retired, related gains or losses are included in net income.

Computer software purchased for internal use, at cost, is amortized on a straight-line basis over five to eight years, depending on the nature of the asset, after being placed into service, and is included in property, plant, and equipment. We capitalize internal and external costs incurred related to the software development stage. Capitalized salaries, travel, and consulting costs related to the software development amounted to $1.2 million in both 2017 and 2016.

We review the carrying value of property, plant and equipment and other long-lived assets for impairment whenever events and circumstances indicate that the carrying value of an asset group may not be recoverable from the estimated future cash flows expected to result from its use and eventual disposition.

Goodwill, Intangibles, and Other 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 reportable segments are consistent with our operating segments. See additional information set forth under Note 12.

Intangible assets acquired in a business combination are recognized at fair value and amortized to Cost of goods sold or Selling, general and administrative expenses over the estimated useful lives of the assets. We review amortizable intangible asset groups for impairment whenever events or changes in circumstances indicate that the related carrying amounts may not be recoverable.

We have an investment in a company in Russia that is accounted for under the equity method of accounting and is included in Other assets, amounting to $0.5 million in 2017 and $0.4 million in 2016. We perform regular reviews of the financial condition of the investee to determine if our investment is other than temporarily impaired. If the financial condition of the investee were to no longer support their valuation, we would record an impairment provision.

Included in Other assets is $16.2 million in 2017 and $7.8 million in 2016 for defined benefit pension plans where plan assets exceed the projected benefit obligations. Other assets also includes financial assets of $1.3 million in 2017 and $6.5 million in 2016 (see Note 15).

Stock-Based Compensation

We have stock-based compensation plans for key employees. Stock options are accounted for in accordance with applicable guidance for the modified prospective transition method of share-based payments. No options have been granted since 2002. See additional information set forth under Note 18.

Derivatives

We use derivatives from time to time to reduce potentially large adverse effects from changes in currency exchange rates and interest rates. We monitor our exposure to these risks and evaluate, on an ongoing basis, the risk of potentially large adverse effects versus the costs associated with hedging such risks.

We use interest rate swaps in the management of interest rate exposures and foreign currency derivatives in the management of foreign currency exposure related to assets and liabilities (including net investments in subsidiaries located outside the U.S.) denominated in foreign currencies. When we enter into a derivative contract, we make a determination whether the transaction is deemed to be a hedge for accounting purposes. For those contracts deemed to be a hedge, we formally document the relationship between the derivative instrument and the risk being hedged. In this documentation, we specifically identify the asset, liability, forecasted transaction, cash flow, or net investment that has been designated as the hedged item, and evaluate whether the derivative instrument is expected to reduce the risks associated with the hedged item. To the extent these criteria are not met, we do not use hedge accounting for the derivative.

All derivative contracts are recorded at fair value, as a net asset or a net liability. For transactions that are designated as hedges, we perform an evaluation of the effectiveness of the hedge. To the extent that the hedge is effective, changes in the fair value of the hedge are recorded, net of tax, in other comprehensive income. We measure the effectiveness of hedging relationships both at inception and on an ongoing basis. The ineffective portion of a hedge, if any, and changes in the fair value of a derivative not deemed to be a hedge, are recorded in Other expense/(income), net.

For derivatives that are designated and qualify as hedges of net investments in subsidiaries located outside the United States, changes in the fair value of derivatives are reported in other comprehensive income as part of the Cumulative translation adjustment.

Pension and Postretirement Benefit Plans

As described in Note 4, we have pension and postretirement benefit plans covering substantially all employees. Our defined benefit pension plan in the United States was closed to new participants as of October 1998 and, as of February 2009, benefits accrued under this plan were frozen. We have liabilities for postretirement benefits in the U.S. and Canada. Substantially all of the liability relates to the U.S. plan. Effective January 2005, our postretirement benefit plan in the U.S. was closed to new participants, except for certain life insurance benefits. In September 2008, we changed the cost sharing arrangement under this program such that increases in health care costs are the responsibility of plan participants and, in August 2013, we reduced the life insurance benefit for retirees and eliminated that benefit for active employees.

The pension plans are generally trusteed or insured, and accrued amounts are funded as required in accordance with governing laws and regulations. The annual expense and liabilities recognized for defined benefit pension plans and postretirement benefit plans are developed from actuarial valuations. Inherent in these valuations are key assumptions, including discount rates and expected return on plan assets, which are updated on an annual basis. We consider current market conditions, including changes in interest rates, in making these assumptions. Discount rate assumptions are based on the population of plan participants and a mixture of high-quality fixed-income investments for with durations that match expected future payments. The assumption for expected return on plan assets is based on historical and expected returns on various categories of plan assets.

Recent Accounting Pronouncements

In May 2014, an accounting update was issued that replaces the existing revenue recognition framework regarding contracts with customers. We adopted the standard effective January 1, 2018 using the modified retrospective method for transition, under which, years prior to 2018 will not be restated. In our Machine Clothing segment, we currently record revenue for the sale of a product when persuasive evidence of an arrangement exists, delivery has occurred, title has been transferred, the selling price is fixed, and collectability is reasonably assured. In this segment, we often have contracts with customers whereby the Company satisfies its performance obligation related to the manufacture and delivery of a product before title has transferred to the customer. Under the new accounting standard, this will result in earlier recognition of revenue associated with these contracts. The selling price of products may include a performance obligation to provide certain support services for no additional cost. We have substantially completed our assessment as to how the new standard effects the Machine Clothing contracts. When we adopt the new standard, we expect to allocate a portion of the associated revenue to such services. We currently estimate less than 5% of revenue will be allocated to such services. While we currently expect that the timing of revenue recognition and the line-item description of Machine Clothing revenue will be affected by the new standard, we do not expect total annual Machine Clothing revenue to be significantly affected. We have also substantially completed our assessment as to how the new standard affects contracts in the Albany Engineered Composites (AEC) segment. Due to the complexity and variability of certain of our AEC contracts, the actual accounting treatment required under the new standard for these arrangements is dependent on contract-specific terms and therefore may vary. A significant change that we anticipate relates to our use of the units-of-delivery method for some long-term contracts, which is considered an output method. Under the new standard, we expect that revenue for most of these contracts will be recognized over time using an input method as the measure of progress, which is expected to result in earlier recognition of revenue. In addition, any expected losses on a project will be recorded in full in the period in which they become probable, which we expect will include losses on requirement contract options that are probable of exercise, excluding profitable options that often follow. Under the new standard, we will be required to limit our estimate of contract value to the period of the legally enforceable contract, which may be considerably shorter than the contract period used under the former standard. Some master contracts in this segment do not contain minimum order quantities and have fixed unit selling prices throughout the contract. Such arrangements could lead to lower profitability or losses in the early portion of the performance period. We are currently evaluating the full effect the new standard will have on our financial statements in order to quantify the cumulative effect of adopting the new standard. In Machine Clothing, we expect that the transition adjustment to the new standard will result in an increase to Accounts receivable, a decrease to Inventories, and an increase to Retained earnings. In AEC, we expect the transition adjustment will result in the reclassification of contract-related receivables from Accounts receivable to Contract assets (a new current asset), an increase to Accrued liabilities, and decreases to Inventories and Retained earnings. The new standard will also require some additional footnote disclosures, including footnote disclosure of 2018 results under the former standard. During 2017, the Company implemented controls designed to properly assess the impact of the new standard on existing customer contracts and, for 2018, we are implementing new controls and modifying other controls, to ensure accurate reporting under the new standard.

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 do not expect the adoption of this update to have a significant effect 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 are currently evaluating the impact of this update 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 and cash paid to a tax authority in lieu of share issuances to employees on the statements of cash flows. The update also affects presentation in the Statements of Cash Flows of income tax effects of shares withheld for incentive compensation, and the exercise of stock options. We adopted this accounting update on January 1, 2017 and it had an insignificant effect on income tax expense. The updates affecting the Statements of Cash Flows have been applied retrospectively as follows:

-As a result of the change affecting cash payments of taxes in lieu of share issuance, operating cash flows for the years ended December 31, 2016 and 2015 were increased $1.3 million and $1.4 million, respectively, and financing cash flows were decreased by the same amount.

-As a result of the change affecting classification of excess tax benefits, operating cash flows were increased $0.1 million and financing cash flows were decreased by the same amount in the years ended December 31, 2016 and 2015.

In October 2016, an accounting update was issued which modifies the recognition of income tax effects on intracompany transfers of assets, other than inventory. This accounting update is effective for reporting periods beginning after December 15, 2017. We do not expect the adoption of this update to have a significant effect on our financial statements.

In November 2016, an accounting update was issued which provides clarification of how changes in restricted cash should be reported in the statement of cash flows. This accounting update is effective for reporting periods beginning after December 15, 2017. We do not expect this update to have a significant effect on our financial statements.

In January 2017, an accounting update was issued which provides the definition of a business for the purposes of business combination accounting. This accounting update is effective for reporting periods beginning after December 15, 2017 and is to be applied prospectively. Accordingly, there will be no effect on prior business combinations. We have not determined the impact of the update due to the absence of transactions that would be impacted.

In January 2017, an accounting update was issued which simplifies the process for determining the amount of goodwill impairment. This accounting update is effective for reporting periods beginning after December 15, 2019. Early adoption is permitted. We are presently unable to determine the effect that the update will have on our financial statements.

In March 2017, an accounting update was issued which requires that service cost for defined benefit pension and postretirement plans be reported in the same line item or items as other compensation costs arising from services rendered by the pertinent employees during the period. Additionally, the other components of net benefit cost are required to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations. This accounting update is effective for reporting periods beginning after December 15, 2017. We expect that the principal effect of adopting this standard will be to reclassify a portion of our pension and postretirement costs to Other expense/(income), net.

In May 2017, an accounting update was issued to provide clarity as to when a company must account for changes to stock-based compensation programs as award modifications. Award modifications require an update to the value of the award, resulting in an adjustment to compensation expense. We have not made changes to awards in recent years that would be affected by this update, but such changes are possible in future periods. The update is effective for periods beginning after December 15, 2017.

In August 2017, an accounting update was issued that will make more financial and nonfinancial hedging strategies eligible for hedge accounting. It also amends the presentation and disclosure requirements and changes how companies assess effectiveness. It is intended to more closely align hedge accounting with companies’ risk management strategies, simplify the application of hedge accounting, and increase transparency as to the scope and results of hedging programs. This accounting update is effective for years beginning after December 15, 2018, with early adoption permitted. We do not expect the adoption of this update to have a significant effect on our financial statements.

Business Acquisition

12 Months Ended

Dec. 31, 2017

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 provided representations, warranties and indemnities customary for acquisition transactions, including indemnities for certain customer claims identified before closing. The acquired entity is part of the Albany Engineered Composites (AEC) segment.

There were no changes during 2017 to the provisional allocation recorded in 2016. The following table summarizes the allocation of the purchase price to the fair value of the assets and liabilities acquired:

(in thousands)		April 8, 2016
Assets acquired
Accounts receivable		$15,443
Inventories		16,670
Prepaid expenses and other current assets		402
Property, plant and equipment		62,784
Intangibles		71,630
Goodwill		95,730
Total assets acquired		$262,659

Liabilities assumed
Accounts payable		$10,323
Accrued liabilities		2,862
Capital lease obligation		17,560
Deferred income taxes		33,143
Other noncurrent liabilities		11,771
Total liabilities assumed		$75,659

Net assets acquired		$187,000

Goodwill of $95.7 million reflects that the acquisition broadened and deepened AEC’s products, experience and manufacturing capabilities, and significantly increases opportunities for future growth. The goodwill is non-deductible for tax purposes.

The following table presents operational results of the acquired entity that are included in the Consolidated Statements of Income (unaudited):

(in thousands, except per share amounts)	April 8 to December 31, 2016
Net sales	$67,011
Operating loss	(1,246	)
Loss before income taxes	(2,342	)
Net loss attributable to the Company	(1,495	)

Loss per share:
Basic	($0.05	)
Diluted:	($0.05	)

The Consolidated Statements of Income reflect operational activity of the acquired business for only the period subsequent to the closing, which affects comparability of results. The following table shows total Company pro forma statements of what results would have been if the 2016 acquisition had occurred as of January 1, 2015.

	Unaudited - Pro forma
(in thousands, except per share amounts)	2016	2015
Combined Net sales	$802,023	$786,623

Combined Income before income taxes	$80,639	$52,542

Pro forma increase/(decrease) to income before income taxes:
Acquisition expenses	5,367	-
Interest expense related to purchase price	(1,382)	(5,133)

Acquisition accounting adjustments:
Depreciation and amortization on property, plant and equipment, and intangible assets	(1,575)	(7,875)
Valuation of contract inventories	1,997	6,908
Interest expense on capital lease obligation	300	1,096
Interest expense on other obligations	(133)	(533)
Pro forma Income before income taxes	$85,213	$47,005

Pro forma Net Income attributable to the Company	$57,229	$54,245

Reportable Segments and Geographic Data

12 Months Ended

Dec. 31, 2017

Segment Reporting [Abstract]

Reportable Segments and Geographic Data

3. Reportable Segments and Geographic Data

In accordance with applicable disclosure guidance for enterprise segments and related information, the internal organization that is used by management for making operating decisions and assessing performance is used as the basis for our reportable segments.

The accounting policies of the segments are the same as those described in Note 1. Corporate expenses include wages and benefits for corporate headquarters personnel, costs related to information systems development and support, and professional fees related to legal, audit, and other activities. These costs are not allocated to the reportable segments because the decision-making for these functions lies outside of the segments.

Machine Clothing:

The Machine Clothing segment supplies permeable and impermeable belts used in the manufacture of paper, paperboard, nonwovens, fiber cement and several other industrial applications. The Machine Clothing segment also supplies customized, consumable fabrics used in the manufacturing process in the pulp, corrugator, nonwovens, fiber cement, building products, and tannery and textile industries. We sell our Machine Clothing products directly to customer end-users in countries across the globe. Our products, manufacturing processes, and distribution channels for Machine Clothing are substantially the same in each region of the world in which we operate.

We design, manufacture, and market paper machine clothing for each section of the paper machine and for every grade of paper. Paper machine clothing products are customized, consumable products of technologically sophisticated design that utilize polymeric materials in a complex structure.

Albany Engineered Composites:

The Albany Engineered Composites (AEC) segment, including Albany Safran Composites, LLC (ASC), in which our customer SAFRAN Group (Safran) owns a 10 percent noncontrolling interest, provides highly engineered, advanced composite structures to customers in the aerospace and defense industries. AEC’s largest program relates to CFM International’s LEAP engine. Under this program, AEC through ASC, is the exclusive supplier of advanced composite fan blades and cases under a long-term supply contract. The manufacturing spaces used for the production of parts under the long-term supply agreement are owned by Safran, and leased to the Company at either a market rent or a minimal cost. All lease expense is reimbursable by Safran to the Company due to the cost-plus nature of the supply agreement. AEC net sales to Safran were $119.2 million in 2017, $88.9 million in 2016, and $58.1 million in 2015. The total of invoiced receivables, unbilled receivables and contract receivables due from Safran amounted to $58.6 million and $37.1 million as of December 31, 2017 and 2016, respectively. Other significant AEC programs include components for the F-35 Joint Strike Fighter, fuselage frame components for the Boeing 787, and the fan case for the GE9X engine. In 2017, approximately 30 percent of AEC sales were related to U.S. government contracts or programs.

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

(in thousands)	2017		2016		2015
Net Sales
Machine Clothing	$590,357		$582,190		$608,581
Albany Engineered Composites	273,360		197,649		101,287
Consolidated total	$863,717		$779,839		$709,868
Depreciation and amortization
Machine Clothing	33,527		36,428		39,503
Albany Engineered Composites	33,533		24,211		12,140
Corporate expenses	4,896		6,822		8,471
Consolidated total	$71,956		$67,461		$60,114
Operating income/(loss)
Machine Clothing	153,936		152,529		141,311
Albany Engineered Composites	(31,657	)	(15,363	)	(28,478	)
Corporate expenses	(46,128	)	(45,390	)	(48,938	)
Operating income	$76,151		$91,776		$63,895
Reconciling items:
Interest income	(1,511	)	(2,077	)	(1,857	)
Interest expense	18,602		15,541		11,841
Other expense, net	4,352		46		2,433
Income before income taxes	$54,708		$78,266		$51,478

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

(in thousands)	2017	2016		2015
Restructuring expenses, net
Machine Clothing	$3,429	$6,069		$22,211
Albany Engineered Composites	10,062	2,314		-
Corporate expenses	-	(7	)	1,635
Consolidated total	$13,491	$8,376		$23,846

In the measurement of assets utilized by each reportable segment, we include accounts and contract receivables, inventories, net property, plant and equipment, intangibles and goodwill. Excluded from segment assets are cash, tax related assets, prepaid and other current assets, and certain other assets not directly associated with segment operations.

The following table presents assets and capital expenditures by reportable segment:

(in thousands)	2017	2016	2015
Segment assets
Machine Clothing	$464,468	$454,010	$494,347
Albany Engineered Composites	584,076	514,527	181,825
Reconciling items:
Cash	183,727	181,742	185,113
Asset held for sale	-	-	4,988
Income taxes prepaid, receivable and deferred	74,914	74,078	111,872
Other assets	54,013	39,076	31,417
Consolidated total assets	$1,361,198	$1,263,433	$1,009,562
Capital expenditures and purchased software
Machine Clothing	$20,522	$15,651	$16,010
Albany Engineered Composites	63,865	54,678	30,378
Corporate expenses	3,250	3,163	4,207
Consolidated total	$87,637	$73,492	$50,595

In 2016, the Company recorded expense of $5.4 million for cost directly related to the acquisition. These costs are included in Selling, general and administrative expenses of the AEC segment.

The following table shows data by geographic area. Net sales are based on the location of the operation recording the final sale to the customer. Net sales recorded by our entity in Switzerland are derived from products sold throughout Europe and Asia, and are invoiced in various currencies.

(in thousands)	2017	2016	2015
Net sales
United States	$459,525	$396,238	$323,399
Switzerland	147,601	145,479	159,804
Brazil	60,535	60,287	58,846
China	48,920	48,043	48,490
France	57,195	42,862	26,081
Mexico	31,902	27,526	30,581
Other countries	58,039	59,404	62,667
Consolidated total	$863,717	$779,839	$709,868
Property, plant and equipment, at cost, net
United States	$252,639	$245,626	$172,372
China	61,840	65,987	80,786
France	58,196	42,272	28,539
Mexico	22,981	7,781	5,264
Korea	14,558	15,585	19,095
United Kingdom	14,256	14,591	19,029
Canada	10,230	11,455	12,861
Other countries	19,602	$19,267	19,524
Consolidated total	$454,302	$422,564	$357,470

Pensions and Other Postretirement Benefit Plans

12 Months Ended

Dec. 31, 2017

Retirement Benefits [Abstract]

Pensions and Other Postretirement Benefit Plans

4. Pensions and Other Postretirement Benefit Plans

Pension Plans

The Company has defined benefit pension plans covering certain U.S. and non-U.S. employees. The U.S. qualified defined benefit pension plan has been closed to new participants since October 1998 and, as of February 2009, benefits accrued under this plan were frozen. As a result of the freeze, employees covered by the pension plan will receive, at retirement, benefits already accrued through February 2009, but no new benefits accrue after that date. Benefit accruals under the U.S. Supplemental Executive Retirement Plan (“SERP”) were similarly frozen. The U.S. pension plan accounts for 42 percent of consolidated pension plan assets, and 43 percent of consolidated pension plan obligations. The eligibility, benefit formulas, and contribution requirements for plans outside of the U.S. vary by location.

The December 31, 2017 benefit obligation for the U.S. pension and postretirement plans were calculated using the RP-2014 mortality table with MP-2017 generational projection. For U.S. pension funding purposes, the Company uses the plan’s IRS-basis current liability as its funding target, which is determined based on mandated assumptions. Weak investment returns and low interest rates could result in higher than expected contributions to pension plans in future years.

Other Postretirement Benefits

In addition to providing pension benefits, the Company provides various medical, dental, and life insurance benefits for certain retired United States employees. U.S. employees hired prior to 2005 may become eligible for these benefits if they reach normal retirement age while working for the Company. Benefits provided under this plan are subject to change. Retirees share in the cost of these benefits. Effective January 2005, any new employees who wish to be covered under this plan will be responsible for the full cost of such benefits. In September 2008, we changed the cost-sharing arrangement under this program such that increases in health care costs are the responsibility of plan participants. In August 2013, we reduced the life insurance benefit for retirees and eliminated the benefit for active employees.

The Company also provides certain postretirement life insurance benefits to retired employees in Canada. As of December 31, 2017, the accrued postretirement liability was $57.4 million in the U.S. and $1.1 million in Canada. The Company accrues the cost of providing postretirement benefits during the active service period of the employees. The Company currently funds the plans as claims are paid.

Accounting guidance requires the recognition of the funded status of each defined benefit and other postretirement benefit plan. Each overfunded plan is recognized as an asset and each underfunded plan is recognized as a liability. Company pension plan data for U.S. and non-U.S. plans has been combined for both 2017 and 2016, except where indicated below.

The Company’s pension and postretirement benefit costs and benefit obligations are based on actuarial valuations that are affected by many assumptions, the most significant of which are the assumed discount rate, expected rate of return on pension plan assets, and mortality. Each of the assumptions is reviewed and updated annually, as appropriate. The assumed rates of return for pension plan assets are determined for each major asset category based on historical rates of return for assets in that category and expectations of future rates of return based, in part, on simulated future capital market performance. The assumed discount rate is based on yields from a portfolio of currently available high-quality fixed-income investments with durations matching the expected future payments, based on the demographics of the plan participants and the plan provisions.

Gains and losses arise from changes in the assumptions used to measure the benefit obligations, and experience different from what had been assumed, including asset returns different than what had been expected. The Company amortizes gains and losses in excess of a “corridor” over the average future service of the plan’s current participants. The corridor is defined as 10 percent of the greater of the plan’s projected benefit obligation or market-related value of plan assets. The market-related value of plan assets is also used to determine the expected return on plan assets component of net periodic cost. The Company’s market-related value for its U.S. plan is measured by first determining the absolute difference between the actual and the expected return on the plan assets. The absolute difference in excess of 5 percent of the expected return is added to the market-related value over two years; the remainder is added to the market-related value immediately.

To the extent the Company’s unrecognized net losses and unrecognized prior service costs, including the amount recognized through accumulated other comprehensive income, are not reduced by future favorable plan experience, they will be recognized as a component of the net periodic cost in future years.

The following table sets forth the plan benefit obligations:

	As of December 31, 2017				As of December 31, 2016
(in thousands)	Pension plans		Other postretirement benefits		Pension plans		Other postretirement benefits

Benefit obligation, beginning of year	$210,856		$57,488		$199,856		$59,970
Service cost	2,720		244		2,656		254
Interest cost	7,476		2,214		7,885		2,443
Plan participants’ contributions	211		-		249		-
Actuarial (gain)/loss	6,626		2,743		17,676		(395	)
Benefits paid	(7,697	)	(4,230	)	(7,057	)	(4,812	)
Settlements and curtailments	(8	)	-		(2,436	)	-
Plan amendments and other	(3	)	-		36		-
Foreign currency changes	10,730		72		(8,009	)	28
Benefit obligation, end of year	$230,911		$58,531		$210,856		$57,488

Accumulated benefit obligation	$220,622		$-		$200,790		$-

Weighted average assumptions used to determine benefit obligations, end of year:
Discount rate - U.S. plan	3.70	%	3.59	%	4.20	%	4.00	%
Discount rate - non-U.S. plans	2.83	%	3.40	%	2.98	%	3.70	%
Compensation increase - U.S. plan	-		-		-		-
Compensation increase - non-U.S. plans	3.02	%	3.00	%	3.29	%	3.00	%

The following sets forth information about plan assets:

	As of December 31, 2017				As of December 31, 2016
(in thousands)	Pension plans		Other postretirement benefits		Pension plans		Other postretirement benefits

Fair value of plan assets, beginning of year	$180,672		$-		$171,387		$-
Actual return on plan assets, net of expenses	19,182		-		19,740		-
Employer contributions	4,645		4,230		6,605		4,812
Plan participants’ contributions	211		37		249		72
Benefits paid	(7,697	)	(4,267	)	(7,057	)	(4,884	)
Settlements	(8	)	-		(2,308	)	-
Foreign currency changes	8,581		-		(7,944	)	-
Fair value of plan assets, end of year	$205,586		$-		$180,672		$-

The funded status of the plans was as follows:

	As of December 31, 2017				As of December 31, 2016
(in thousands)	Pension plans		Other postretirement benefits		Pension plans		Other postretirement benefits

Fair value of plan assets	$205,586		$-		$180,672		$-
Benefit obligation	230,911		58,531		210,856		57,488
Funded status	($25,325	)	($58,531	)	($30,184	)	($57,488	)

Accrued benefit cost, end of year	($25,325	)	($58,531	)	($30,184	)	($57,488	)

Amounts recognized in the consolidated balance sheet consist of the following:
Noncurrent asset	$16,242		$-		$7,794		$-
Current liability	(2,094	)	(4,108	)	(2,057	)	(4,195	)
Noncurrent liability	(39,473	)	(54,423	)	(35,921	)	(53,293	)
Net amount recognized	($25,325	)	($58,531	)	($30,184	)	($57,488	)

Amounts recognized in accumulated other comprehensive income consist of:
Net actuarial loss	$67,283		$34,717		$72,400		$34,782
Prior service cost/(credit)	572		(26,411	)	597		(30,899	)
Net amount recognized	$67,855		$8,306		$72,997		$3,883

The composition of the net pension plan funded status as of December 31, 2017 was as follows:

			Non-U.S.
(in thousands)	U.S. plan		plans		Total

Pension plans with pension assets	($6,466	)	$13,870		$7,404
Pension plans without pension assets	(7,356	)	(25,373	)	(32,729	)
Total	($13,822	)	($11,503	)	($25,325	)

The composition of the net periodic benefit plan cost for the years ended December 31, 2017, 2016, and 2015, was as follows:

	Pension plans						Other postretirement benefits
(in thousands)	2017		2016		2015		2017		2016		2015

Components of net periodic benefit cost:
Service cost	$2,720		$2,656		$2,959		$244		$254		$330
Interest cost	7,476		7,885		7,787		2,214		2,443		2,437
Expected return on assets	(8,152	)	(8,675	)	(8,630	)	-		-		-
Amortization of prior service cost/(credit)	36		38		48		(4,488	)	(4,488	)	(4,488	)
Amortization of net actuarial loss	2,628		2,283		2,594		2,811		2,819		3,338
Settlement	-		162		103		-		-		-
Curtailment (gain)/loss	-		(111	)	-		-		-		-
Special/contractual termination of benefits	-		-		44		-		-		-
Net periodic benefit cost	$4,708		$4,238		$4,905		$781		$1,028		$1,617

Weighted average assumptions used to determine net cost:
Discount rate - U.S. plan	4.20	%	4.54	%	4.18	%	4.00	%	4.24	%	3.90	%
Discount rate - non-U.S. plan	2.98	%	3.67	%	3.58	%	3.70	%	4.00	%	3.85	%
Expected return on plan assets - U.S. plan	4.40	%	4.74	%	4.43	%	-		-		-
Expected return on plan assets - non-U.S. plans	4.46	%	5.39	%	5.52	%	-		-		-
Rate of compensation increase - U.S. plan	-		-		-		-		-		-
Rate of compensation increase - non-U.S. plans	3.29	%	3.24	%	3.23	%	3.00	%	3.00	%	3.00	%

Pretax (gains)/losses on plan assets and benefit obligations recognized in other comprehensive income during 2017 were as follows:

			Other
	Pension		postretirement
(in thousands)	plan		benefits
Settlements/curtailments	$-		$-
Asset/liability loss/(gain)	(4,408	)	2,743
Amortization of actuarial (loss)	(2,628	)	(2,811	)
Amortization of prior service (cost)/credit	(36	)	4,488
Currency impact	1,930		2
Cost/(benefit) in other comprehensive income	($5,142	)	$4,422
Total cost/(benefit) recognized in net periodic benefit cost and other comprehensive income	($434	)	$5,203

The estimated amounts that will be amortized from accumulated other comprehensive income into net periodic benefit cost in 2018 are as follows:

		Total
	Total	postretirement
(in thousands)	pension	benefits
Actuarial loss	$2,232	$2,956
Prior service cost/(benefit)	35	(4,488	)
Total	$2,267	($1,532	)

Investment Strategy

Our investment strategy for pension assets differs for the various countries in which we have defined benefit pension plans. Some of our defined benefit plans do not require funded trusts and, in those arrangements, the Company funds the plans on a “pay as you go” basis. The largest of the funded defined benefit plans is the United States plan.

United States plan:

During 2009, we changed our investment strategy for the United States pension plan by adopting a liability-driven investment strategy. Under this arrangement, the Company seeks to invest in assets that track closely to the discount rate that is used to measure the plan liabilities. Accordingly, the plan assets are primarily debt securities. The change in investment strategy is reflective of the Company’s 2008 decision to freeze benefit accruals under the plan.

Non-United States plans:

For the countries in which the Company has funded pension trusts, the investment strategy is to achieve a competitive, total investment return, achieving diversification between and within asset classes and managing other risks. Investment objectives for each asset class are determined based on specific risks and investment opportunities identified. Actual allocations to each asset class vary from target allocations due to periodic investment strategy changes, market value fluctuations, the length of time it takes to fully implement investment allocation positions, and the timing of benefit payments and contributions.

Fair-Value Measurements

The following tables present plan assets as of December 31, 2017, and 2016, using the fair-value hierarchy, which has three levels based on the reliability of inputs used, as described in Note 15. Certain investments that are measured at fair value using net asset value (NAV) as a practical expedient are not required to be categorized in the fair value hierarchy table. The total fair value of these investments is included in the table below to permit reconciliation of the fair value hierarchy to amounts presented in the funded status table above. As of December 31, 2017 and 2016, there were no investments expected to be sold at a value materially different than NAV.

	Assets at Fair Value as of December 31, 2017
	Quoted prices	Significant other	Significant
	in active markets	observable inputs	unobservable inputs
(in thousands)	Level 1	Level 2	Level 3	Total

Common Stocks and equity funds	$335	$-	$-	$335
Debt securities	-	81,363	-	81,363
Insurance contracts	-	-	2,407	2,407
Cash and short-term investments	3,253	-	-	3,253
Total investments in the fair value hierarchy	$3,588	$81,363	$2,407	87,358

Investments at net asset value:
Common Stocks and equity funds				37,768
Fixed income funds				75,881
Limited partnerships				4,579
Hedge funds				-
Total plan assets				$205,586

	Assets at Fair Value as of December 31, 2016
	Quoted prices	Significant other	Significant
	in active markets	observable inputs	unobservable inputs
(in thousands)	Level 1	Level 2	Level 3	Total

Common Stocks and equity funds	$309	$-	$-	$309
Debt securities	-	74,449	-	74,449
Insurance contracts	-	-	2,238	2,238
Cash and short-term investments	3,401	-	-	3,401
Total investments in the fair value hierarchy	$3,710	$74,449	$2,238	80,397

Investments at net asset value:
Common Stocks and equity funds				35,510
Fixed income funds				59,662
Limited partnerships				5,065
Hedge funds				38
Total plan assets				$180,672

The following tables present a reconciliation of Level 3 assets held during the years ended December 31, 2017 and 2016:

(in thousands)	December 31, 2016	Net realized gains	Net unrealized gains	Net purchases, issuances and settlements	Net transfers (out of) Level 3	December 31, 2017
Insurance contracts	$2,238	$-	$56	$113	$-	$2,407
Total level 3 assets	$2,238	$-	$56	$113	$-	$2,407

(in thousands)	December 31, 2015	Net realized gains	Net unrealized gains	Net purchases, issuances and settlements	Net transfers (out of) Level 3	December 31, 2016
Insurance contracts	$2,403	$-	$26	$(191)	$-	$2,238
Total level 3 assets	$2,403	$-	$26	($191)	$-	$2,238

The asset allocation for the Company’s U.S. and non-U.S. pension plans for 2016 and 2017, and the target allocation for 2018, by asset category, are as follows:

	United States Plan						Non-U.S. Plans
	Target		Percentage of plan assets				Target		Percentage of plan assets
	Allocation		at plan measurement date				Allocation		at plan measurement date
Asset category	2018		2017		2016		2018		2017		2016

Equity securities	-		1	%	2	%	32	%	30	%	33	%
Debt securities	100	%	95	%	92	%	64	%	64	%	61	%
Real estate	-		4	%	5	%	1	%	1	%	-
Other (1)	-		-		1	%	3	%	5	%	6	%
	100	%	100	%	100	%	100	%	100	%	100	%

(1) Other includes hedged equity and absolute return strategies, and private equity. The Company has procedures to closely monitor the performance of these investments and compares asset valuations to audited financial statements of the funds.

The targeted plan asset allocation is based on an analysis of the actuarial liabilities, a review of viable asset classes, and an analysis of the expected rate of return, risk, and other investment characteristics of various investment asset classes.

At the end of 2017 and 2016, the projected benefit obligation, accumulated benefit obligation, and fair value of plan assets for pension plans with projected benefit obligation and an accumulated benefit obligation in excess of plan assets were as follows:

	Plans with projected benefit obligation in excess of plan assets
(in thousands)	2017	2016
Projected benefit obligation	$131,717	$121,600
Fair value of plan assets	90,149	83,622

	Plans with accumulated benefit obligation in excess of plan assets
(in thousands)	2017	2016
Accumulated benefit obligation	$129,698	$119,728
Fair value of plan assets	90,149	83,558

Information about expected cash flows for the pension and other benefit obligations are as follows:


(in thousands)	Pension plans	Other postretirement benefits
Expected employer contributions and direct employer payments in the next fiscal year	$4,787	$4,108

Expected benefit payments
2018	$7,495	$4,108
2019	7,605	3,985
2020	8,104	3,872
2021	8,925	3,801
2022	9,207	3,749
2023-2027	55,897	17,890

Restructuring

12 Months Ended

Dec. 31, 2017

Restructuring and Related Activities [Abstract]

Restructuring

5. Restructuring

In 2017, the Company announced the initiation of discussions with the local works council regarding a proposal to discontinue operations at its Machine Clothing production facility in Sélestat, France. During 2017, we incurred $1.1 million of restructuring expense associated with this proposal. In February 2018, we completed negotiations with the Works Council regarding benefits that would be provided to affected employees, and submitted the proposed plan to the government labor authorities for approval. While there can be no assurance that such approval will be obtained, we consider it probable that such approval will be obtained in the first quarter of 2018. We are presently unable to reasonably estimate the total costs for severance and other charges associated with the proposal.

AEC restructuring charges in 2017 included the discontinuation of the Bear Claw® line of hydraulic fracturing components used in the oil and gas industry, which led to non-cash restructuring charges totaling $4.5 million relating to the impairment of long-lived assets. We also incurred restructuring charges of $5.0 million in 2017 related to completed work force reductions in Salt Lake City, Utah and Rochester, New Hampshire. Cost savings associated with these actions will result, principally, in lower cost of goods sold in 2018.

In 2016, the Company discontinued research and development activities at its Machine Clothing facility in Sélestat, France as part of a plan to reduce research and development costs. This initiative resulted in 2016 expense of $2.2 million for severance, outplacement, and the write-off of equipment. In 2017, we recorded additional restructuring charges of $1.6 million, principally related to additional termination benefits paid to former employees.

In 2015, the Company announced a plan to discontinue manufacturing operations at its press fabric manufacturing facility in Göppingen, Germany and manufacturing operations were discontinued during the second quarter which led to total restructuring charges of $14.8 million from 2015 to 2017. The restructuring program was driven by the Company’s need to balance manufacturing capacity with demand. In 2015, we recorded charges of $11.4 million related to this restructuring, including $3.3 million related to the write down of the land and former manufacturing facility to estimated fair market value, and the property was sold in 2016 at that value. In 2016 and 2017, we recorded additional restructuring charges of $2.6 million and $0.8 million, respectively, principally related to the final closure of the plant in Germany.

AEC restructuring expenses in 2016 were principally related to the consolidation of legacy programs into Boerne, Texas.

In the fourth quarter of 2015, the Company implemented an early retirement program for certain employees in the United States. Restructuring charges associated with this restructuring program were $8.1 million. 2015 restructuring charges also include $4.3 million related to the reduction in selling, general and administrative employment in Machine Clothing and Corporate.

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

	Total restructuring costs incurred	Termination and other costs	Impairment of assets	Benefit plan curtailment/ settlement
Year ended December 31, 2017 (in thousands)	Total restructuring costs incurred	Termination and other costs	Impairment of assets	Benefit plan curtailment/ settlement
Machine Clothing	$3,429	$2,945	$484	$-
Albany Engineered Composites	10,062	5,004	5,058	-
Corporate expenses	-	-	-	-
Total	$13,491	$7,949	$5,542	$-

	Total restructuring costs incurred		Termination and other costs		Impairment of assets	Benefit plan curtailment/ settlement
Year ended December 31, 2016 (in thousands)	Total restructuring costs incurred		Termination and other costs		Impairment of assets	Benefit plan curtailment/ settlement
Machine Clothing	$6,069		$5,756		$425	($112	)
Albany Engineered Composites	2,314		1,502		812	-
Corporate expenses	(7	)	(7	)	-	-
Total	$8,376		$7,251		$1,237	($112	)

Year ended December 31, 2015	Total restructuring costs incurred	Termination and other costs	Impairment of assets	Benefit plan curtailment/ settlement
(in thousands)	Total restructuring costs incurred	Termination and other costs	Impairment of assets	Benefit plan curtailment/ settlement
Machine Clothing	$22,211	$18,906	$3,305	$-
Albany Engineered Composites	-	-	-	-
Corporate expenses	1,635	1,635	-	-
Total	$23,846	$20,541	$3,305	$-

We expect that approximately $2.7 million of Accrued liabilities for restructuring at December 31, 2017 will be paid within one year and approximately $0.6 million will be paid the following year. The table below presents the changes in restructuring liabilities for 2017 and 2016, all of which related to termination costs:

	December 31,	Restructuring		Currency	December 31,
(in thousands)	2016	charges accrued	Payments	translation/other	2017

Total termination and other costs	$5,559	$7,949	($10,351)	$169	$3,326

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

Total termination and other costs	$10,177	$7,251	($11,800)	($69)	$5,559

Other Expense/(Income), net

12 Months Ended

Dec. 31, 2017

Other Income and Expenses [Abstract]

Other Expense/(Income), net

6. Other Expense/(Income), net

The components of Other Expense/(Income), net, are:

(in thousands)	2017		2016		2015
Currency transactions	$4,634		($3,532	)	$1,496
Bank fees and amortization of debt issuance costs	487		759		916
Gain on insurance recovery	(2,000	)	-		-
Loss due to theft	-		2,506		-
Gain on sale of investment	-		-		(872	)
Other	1,231		313		893
Total	$4,352		$46		$2,433

In 2016, the Company had a loss due to theft of cash in Japan, resulting in a loss of $2.5 million. In September 2017, the Company recorded an insurance recovery gain of $2.0 million related to that incident.

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

12 Months Ended

Dec. 31, 2017

Income Tax Disclosure [Abstract]

Income Taxes

7. Income Taxes

The following tables present components of income tax expense/(benefit) and income before income taxes on continuing operations:

(in thousands)	2017		2016		2015
Income tax based on income from continuing operations, at estimated tax rates of 32%, 35%, and 32%, respectively	$17,519		$27,629		$16,388
Income tax before discrete items	17,519		27,629		16,388

Discrete tax expense(benefit):
Worthless stock deduction	-		-		(28,553	)
Net impact of mandatory deemed repatriations	5,758		-		-
Provision for/resolution of tax audits and contingencies, net	1,329		(2,856	)	6,500
Adjustments to prior period tax liabilities	(840	)	586		(867	)
Provision for/adjustment to beginning of year valuation allowances	(3,522	)	(88	)	75
Enacted tax legislation	1,879		183		670
Total income tax expense/(benefit)	$22,123		$25,454		($5,787	)

(in thousands)	2017		2016		2015
Income/(loss) before income taxes:
U.S.	($5,865	)	$8,556		($7,211	)
Non-U.S.	60,573		69,710		58,689
	$54,708		$78,266		$51,478

Income tax provision:

Current:
Federal	$1,551		$3,728		$-
State	1,770		176		1,993
Non-U.S.	19,282		19,979		20,842
	$22,603		$23,883		$22,835

Deferred:
Federal	$1,881		$2,138		($34,135	)
State	(1,237	)	1,984		(40	)
Non-U.S.	(1,124	)	(2,551	)	5,553
	($480	)	$1,571		($28,622	)

Total income tax expense/(benefit)	$22,123		$25,454		($5,787	)

The significant components of deferred income tax expense/(benefit) are as follows:

(in thousands)	2017		2016		2015
Net effect of temporary differences	($5,774	)	$7,214		($7,615	)
Foreign tax credits	8,340		(6,869	)	(17,874	)
Retirement benefits	(502	)	1,734		1,844
Net impact to operating loss carryforwards	(900	)	(603	)	(5,722	)
Enacted changes in tax laws and rates	1,878		183		670
Adjustment to beginning-of-the-year valuation allowance balance for changes in circumstances	(3,522	)	(88	)	75
Total	($480	)	$1,571		($28,622	)

A reconciliation of the U.S. federal statutory tax rate to the Company’s effective income tax rate is as follows:

	2017		2016		2015
U.S. federal statutory tax rate	35.0	%	35.0	%	35.0	%
State taxes, net of federal benefit	1.0		2.3		2.4
Non-U.S. local income taxes	5.9		3.5		4.1
Foreign permanent adjustments	0.4		1.6		7.4
Foreign rate differential	(10.5	)	(11.3	)	(13.6	)
Net U.S. tax on non-U.S. earnings and foreign withholdings	11.9		5.8		(1.8	)
Provision for/resolution of tax audits and contingencies, net	2.4		(3.4	)	12.6
Research and development and other tax credits	(1.5	)	(1.2	)	(2.4	)
Adjustment to beginning-of-the-year valuation allowances	(6.4	)	(0.1	)	0.1
Worthless stock deduction	-		-		(55.5	)
Other	2.2		0.3		0.5
Effective income tax rate	40.4	%	32.5	%	(11.2	)%

The Company has operations which constitute a taxable presence in 18 countries outside of the United States. All of these countries had income tax rates that were below the United States federal tax rate of 35% during the periods reported. The jurisdictional location of earnings is a significant component of our effective tax rate each year. The rate impact of this component is influenced by the specific location of non-U.S. earnings and the level of our total earnings. From period to period, the jurisdictional mix of earnings can vary as a result of operating fluctuations in the normal course of business, as well as the extent and location of other income and expense items, such as pension settlement and restructuring charges. The foreign income tax rate differential that is included above in the reconciliation of the effective tax rate includes the difference between tax expense calculated at the U.S. federal statutory tax rate of 35% and the expense accrued based on lower statutory tax rates that apply in the jurisdictions where the income or loss is earned.

During the periods reported, income outside of the U.S. was heavily concentrated within Brazil (blended 34% tax rate), China, (25% tax rate), Mexico (30% tax rate) and France (33.33% tax rate). As a result, the foreign income tax rate differential was primarily attributable to these tax rate differences.

On December 22, 2017, the U.S. Tax Cuts and Jobs Act (the “Tax Reform Act”) was signed into law. The Tax Reform Act significantly revised the U.S. corporate income tax regime by, among other things, lowering the U.S. corporate tax rate from 35% to 21% effective January 1, 2018, while also repealing the deduction for domestic production activities, implementing a territorial tax system and imposing a transition tax on deemed repatriated earnings of foreign subsidiaries. U.S. GAAP requires that the impact of tax legislation be recognized in the period in which the law was enacted.

In December 2017, the Securities and Exchange Commission staff issued Staff Accounting Bulletin No. 118 (SAB 118), which addresses how a company recognizes provisional amounts when a company does not have the necessary information available, prepared or analyzed (including computations) in reasonable detail to complete its accounting for the effect of the changes in the Tax Reform Act. The measurement period ends when a company has obtained, prepared and analyzed the information necessary to finalize its accounting, but cannot extend beyond one year. The Company has elected to apply the measurement period guidance provided in SAB 118.

Deferred tax assets and liabilities: The Company remeasured certain deferred tax assets and liabilities based on the federal rate of 21%. However, the Company is still analyzing certain aspects of the Tax Reform Act, such as IRC section 162(m), and refining its calculations which could potentially affect the measurement of these balances or potentially give rise to new deferred tax amounts. The provisional amount recorded related to the remeasurement of the Company’s deferred tax balance was a tax charge of $1.0 million.

Foreign tax effects: The one-time transition tax is based on the Company’s total post 1986 earnings and profits (E&P). The Company recorded a provisional federal tax charge of $5.8 million due to the transition tax on deemed repatriation of foreign earnings, for the year-ended December 31, 2017.

The final impact on the Company from the Tax Reform Act’s transition tax legislation may differ from the aforementioned reasonable estimate of $5.8 million due to the complexity of calculating and supporting with primary evidence such U.S. tax attributes as accumulated foreign earnings and profits, foreign tax paid, and other tax components involved in foreign tax credit calculations for prior years back to 1986. Such differences could be material, due to, among other things, changes in interpretations of the Tax Reform Act, future legislative action to address questions that arise because of the Tax Reform Act, changes in accounting standards for income taxes or related interpretations in response to the Tax Reform Act, or any updates or changes to estimates the Company has utilized to calculate the transition tax’s reasonable estimate.

Given the lack of guidance from various states on the treatment of the mandatory deemed repatriation, the Company did not record any additional tax provision for the potential state tax impact of this item, but will, if necessary, as guidance is provided and analyzed during the measurement period.

The Company has foreign tax credit carryforward that can be applied against the federal tax liability of the mandatory deemed repatriation, therefore, the Company did not record a tax payable liability for the mandatory deemed repatriation.

The Company has determined at this time that the Base Erosion Anti-Abuse Tax (BEAT) does not apply under the Company’s current policies. Therefore no adjustments have been recorded in the December 31, 2017 consolidated financial statements.

Because of the complexity of the new Global Intangible Low-Taxed Income (GILTI) tax rules, the Company continues to evaluate this provision of the Tax Reform Act and the application of ASC 740, Income Taxes. Under U.S. GAAP, the Company is allowed to make an accounting policy choice of either (1) treating taxes due on future U.S. inclusions in taxable income related to GILTI as a current-period expense when incurred (the “period cost method”) or (2) factoring such amounts into the Company is measurement of its deferred taxes (the “deferred method”). The Company’s selection of an accounting policy with respect to the new GILTI tax rules will depend, in part, on analyzing its global income to determine whether it expects to have future U.S. inclusions in taxable income related to GILTI and, if so, what the impact is expected to be. Whether the Company expects to have future U.S. inclusions in taxable income related to GILTI depends on not only the Company’s current structure and estimated future results of global operations, but also its intent and ability to modify its structure. The Company is currently in the process of analyzing its structure and, as a result, is not yet able to reasonably estimate the effect of this provision of the Tax Reform Act. Therefore, the Company has not made any adjustments related to potential GILTI tax in its financial statements and has not made a policy decision regarding whether to record deferred tax on GILTI.

Other federal tax: As a result of the Tax Reform Act, the corporate alternative minimum tax (AMT) was repealed. In addition, taxpayers with AMT carryforwards in excess of their regular tax liability may have the credits refunded over years from 2018 to 2022. The Company has $1.0 million of AMT credit carryforward; the Company is still determining the potential future AMT credit utilization and any carryforward remaining will be reclassified to non-current federal tax receivable during the measurement period.

The charges associated with the Tax Reform Act represent provisional amounts and the Company’s current best estimates. Any adjustments recorded to the provisional amounts through the end of the measurement period, and no later than the fourth quarter of fiscal 2018, will be included in income from operations as an adjustment to tax expense. The provisional amounts incorporate assumptions made based upon the Company’s current interpretation of the Tax Reform Act and may change as the Company receives additional clarification and implementation guidance.

Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of certain assets and liabilities for financial reporting purposes and income tax return purposes. Significant components of the Company’s deferred tax assets and liabilities are as follows:

	U.S.		Non-U.S.
(in thousands)	2017	2016	2017		2016

Noncurrent deferred tax assets:
Accounts receivable	$557	$1,155	$1,341		$1,381
Inventories	1,109	1,193	961		1,868
Deferred compensation	3,300	7,533	1,362		-
Depreciation and amortization	-	2,786	3,211		2,564
Postretirement benefits	18,286	26,602	1,464		2,067
Tax loss carryforwards	1,368	1,760	22,639		26,084
Tax credit carryforwards	41,920	50,624	1,654		1,186
Other	3,891	7,828	-		2,876
Noncurrent deferred tax assets
before valuation allowance	70,431	99,481	32,632		38,026

Less: valuation allowance	-	-	(16,057	)	(22,821	)
Total noncurrent deferred tax assets	70,431	99,481	16,575		15,205

Total deferred tax assets	$70,431	$99,481	$16,575		$15,205

Noncurrent deferred tax liabilities:
Unrepatriated foreign earnings	$914	$1,602	$-		$-
Depreciation and amortization	20,170	43,156	-		-
Deferred gain	4,169	7,156	-		-
Other	81	2,198	2,597		2,897
Total deferred tax liabilities	$25,334	$54,112	$2,597		$2,897

Net deferred tax asset	$45,097	$45,369	$13,978		$12,308

Deferred income tax assets, net of valuation allowances, are expected to be realized through the reversal of existing taxable temporary differences and future taxable income. In 2017, the Company recorded the following movements in its valuation allowance: $5.3 million decrease in a valuation allowance due to a net reduction in the related deferred tax assets, $3.6 million decrease due to the elimination of previously recorded valuation allowances, and $2.1 million increase due to the effect of the changes in currency translation rates.

At December 31, 2017, the Company had available approximately $111 million of net operating loss carryforwards, for which we have a deferred tax asset of $23.4 million, with expiration dates ranging from one year to indefinite, that may be applied against future taxable income. We believe that it is more likely than not that certain benefits from these net operating loss carryforwards will not be realized and, accordingly, we have recorded a valuation allowance of $12.7 million as of December 31, 2017. Additionally, management has evaluated its ability to utilize its other Non-U.S. tax attributes during the various carryforward periods and has concluded that the Company will more likely than not be able to utilize the remaining Non-U.S. tax attributes. Included in the net operating loss carryforwards is approximately $20.1 million of state net operating loss carryforwards that are subject to various business apportionment factors and multiple jurisdictional requirements when utilized. In addition, the Company had available a foreign tax credit carryforward of $33.7 million that will begin to expire in 2020, U.S. and Non-U.S. research and development credit carryforwards of $7.6 million and $1.5 million, respectively, that will begin to expire in 2025, and alternative minimum tax credit carryforwards of $1.3 million with no expiration date.

The Company reported a U.S. net deferred tax asset of $45.1 million at December 31, 2017, which contained $43.3 million of tax attributes with limited lives. Management has evaluated its ability to utilize these tax attributes during the carryforward period. Based on the Company’s cumulative book income position over the past three years, the Company’s expected future profits from operations, available tax elections and tax planning opportunities, management has concluded that the Company will more likely than not be able to utilize the remaining tax attributes. Accordingly, no valuation allowance has been established for the remaining U.S. net deferred tax assets.

The Company records the residual U.S. and foreign taxes on certain amounts of foreign earnings that have been targeted for repatriation to the U.S. These amounts are not considered to be indefinitely reinvested, and the Company accrued for the tax cost on these earnings to the extent they cannot be repatriated in a tax-free manner.

The accumulated undistributed earnings of the Company’s foreign operations not targeted for repatriation to the U.S. were approximately $200 million, and are intended to remain indefinitely invested in foreign operations. U.S. income taxes have been provided on these earnings at December 31, 2017 which are included in the provisional transition tax of $5.8 million. The Company has targeted for repatriation $41 million of current year and prior year earnings of the Company’s foreign operations. If these earnings were distributed, the Company would be subject to foreign withholding taxes of $0.9 million which have already been recorded.

No additional income taxes have been provided on the indefinitely invested foreign earnings at December 31, 2017. If these earnings were distributed, the Company could be subject to both foreign income taxes and additional foreign withholding taxes. Determining the amount of unrecognized deferred tax liability related to any additional outside basis difference in these entities is not practicable. In addition, the Company is still evaluating the impact of the one-time transition tax on the outside basis differences and cumulative temporary differences inherent in these subsidiaries as of December 31, 2017 and as a result, it is not practicable to provide the amount of any cumulative temporary differences related to unrecorded differences.

The following table provides a reconciliation of the beginning and ending amount of unrecognized tax benefits, all of which, if recognized, would impact the effective tax rate:

(in thousands)	2017		2016		2015
Unrecognized tax benefits balance at January 1	$4,183		$19,606		$19,509
Increase in gross amounts of tax positions related to prior years	480		62		2,315
Decrease in gross amounts of tax positions related to prior years	(50	)	(2,129	)	(145	)
Increase in gross amounts of tax positions related to current years	-		585		79
Decrease due to settlements with tax authorities	(381	)	(14,029	)	(42	)
Decrease due to lapse in statute of limitations	(29	)	(163	)	(90	)
Currency translation	306		251		(2,020	)
Unrecognized tax benefits balance at December 31	$4,509		$4,183		$19,606

The Company recognizes interest and penalties related to unrecognized tax benefits within its global operations as a component of income tax expense. The Company recognized interest and penalties related to the unrecognized tax benefits noted above of $0.1 million or less in each of 2017, 2016 and 2015. As of December 31, 2017, 2016 and 2015 the Company had approximately $0.4 million, $0.3 million, and $0.4 million respectively, of accrued interest and penalties related to unrecognized tax benefits.

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 the Company is subject to examination by taxing authorities throughout the world, including major jurisdictions such as the United States, Brazil, Canada, France, Germany, Italy, Mexico and Switzerland. The open tax years in these jurisdictions range from 2007 to 2017. The Company is currently under audit in non-U.S. tax jurisdictions, including but not limited to Canada and Italy.

As of December 31, 2017 and 2016, current income taxes prepaid and receivable consisted of the following:

(in thousands)	2017	2016
Prepaid taxes	$4,872	$3,914
Taxes receivable	1,394	1,299
Total current income taxes prepaid and receivable	$6,266	$5,213

As of December 31, 2017 and 2016, noncurrent deferred tax liabilities and other credits consisted of the following:

(in thousands)	2017	2016
Deferred income taxes	$9,573	$11,188
Other liabilities	1,418	1,201
Total noncurrent deferred taxes and other liabilities	$10,991	$12,389

Taxes paid, net of refunds, amounted to $23.7 million in 2017, $23.4 million in 2016, and $18.3 million in 2015.

Earnings Per Share

12 Months Ended

Dec. 31, 2017

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:

(in thousands, except market price and earnings per share)	2017	2016	2015

Net income attributable to the Company	$33,111	$52,733	$57,279

Weighted average number of shares:

Weighted average number of shares used in
calculating basic net income per share	32,169	32,086	31,978

Effect of dilutive stock-based compensation plans:

Stock options	30	39	58

Long-term incentive plan	45	45	52

Weighted average number of shares used in
calculating diluted net income per share	32,244	32,170	32,088

Average market price of common stock used
for calculation of dilutive shares	$52.19	$40.25	$36.68

Net income per share:

Basic	$1.03	$1.64	$1.79

Diluted	$1.03	$1.64	$1.79

Shares outstanding, net of treasury shares, were 32.2 million as of December 31, 2017, 32.1 million as of December 31, 2016, and 32.0 million as of December 31, 2015.

Accumulated Other Comprehensive Income (AOCI)

12 Months Ended

Dec. 31, 2017

Accumulated items of other comprehensive income:

Accumulated Other Comprehensive Income (AOCI)

9. Accumulated Other Comprehensive Income (AOCI)

The table below presents changes in the components of AOCI from January 1, 2015 to December 31, 2017:

(in thousands)	Translation adjustments		Pension and postretirement liability adjustments		Derivative valuation adjustment		Total Other Comprehensive Income
January 1, 2015	($55,240	)	($51,666	)	($861	)	($107,767	)
Other comprehensive income/(loss) before reclassifications	(53,415	)	2,238		(1,836	)	(53,013	)
Pension/postretirement settlements and curtailments			103				103
Pension/postretirement plan remeasurement			(622	)			(622	)
Interest expense related to swaps reclassified to the Statements of Income, net of tax					1,233		1,233
Pension and postretirement liability adjustments reclassified to Statements of Income, net of tax			1,222				1,222
Net current period other comprehensive income	(53,415	)	2,941		(603	)	(51,077	)
December 31, 2015	(108,655	)	(48,725	)	(1,464	)	(158,844	)
Other comprehensive income/(loss) before reclassifications	(24,643	)	676		804		(23,163	)
Pension/postretirement settlements and curtailments			45				45
Pension/postretirement plan remeasurement			(4,394	)			(4,394	)
Interest expense related to swaps reclassified to the Statements of Income, net of tax					1,488		1,488
Pension and postretirement liability adjustments reclassified to Statements of Income, net of tax			679				679
Net current period other comprehensive income	(24,643	)	(2,994	)	2,292		(25,345	)
December 31, 2016	(133,298	)	(51,719	)	828		(184,189	)
Other comprehensive income/(loss) before reclassifications	45,980		(1,818	)	201		44,363
Pension/postretirement plan remeasurement			2,037				2,037
Interest expense related to swaps reclassified to the Statements of Income, net of tax					924		924
Pension and postretirement liability adjustments reclassified to Statements of Income, net of tax			964				964
Net current period other comprehensive income	45,980		1,183		1,125		48,288
December 31, 2017	($87,318	)	($50,536	)	$1,953		($135,901	)

The components of our Accumulated Other Comprehensive Income that are reclassified to the Statement of Income relate to our pension and postretirement plans and interest rate swaps.

The table below presents the expense/(income) amounts reclassified, and the line items of the Statement of Income that were affected for the periods ended December 31, 2017, 2016 and 2015.

(in thousands)	2017		2016		2015
Pretax Derivative valuation reclassified from Accumulated Other Comprehensive Income:
Expense related to interest rate swaps included in Income before taxes (a)	$1,490		$2,400		$1,988
Income tax effect	(566	)	(912	)	(755	)
Effect on net income due to items reclassified from Accumulated Other Comprehensive Income	$924		$1,488		$1,233

Pretax pension and postretirement liabilities reclassified from Accumulated Other Comprehensive Income:
Pension/postretirement settlements and curtailments	$-		$51		$103
Amortization of prior service credit	(4,453	)	(4,450	)	(4,440	)
Amortization of net actuarial loss	5,439		5,102		5,932
Total pretax amount reclassified (b)	986		703		1,595

Income tax effect	(22	)	21		(270	)
Effect on net income due to items reclassified from Accumulated Other Comprehensive Income	$964		$724		$1,325

(a) Included in Interest expense are payments related to the interest rate swap agreements and amortization of swap buyouts (see Note 15).

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

Noncontrolling Interest

12 Months Ended

Dec. 31, 2017

Noncontrolling Interest [Abstract]

Noncontrolling Interest

10. Noncontrolling Interest

Effective October 31, 2013, Safran S.A. (Safran) acquired a 10 percent equity interest in a new Albany subsidiary, Albany Safran Composites, LLC (ASC). Under the terms of the transaction agreements, ASC will be the exclusive supplier to Safran of advanced 3D-woven composite parts for use in aircraft and rocket engines, thrust reversers and nacelles, and aircraft landing and braking systems (the “Safran Applications”). AEC may develop and supply parts other than advanced 3D-woven composite parts for all aerospace applications, as well as advanced 3D-woven composite parts for any aerospace applications that are not Safran Applications (such as airframe applications) and any non-aerospace applications.

The agreement provides Safran an option to purchase Albany’s remaining 90 percent interest upon the occurrence of certain bankruptcy or performance default events, or if Albany’s Engineered Composites business is sold to a direct competitor of Safran. The purchase price is based initially on the same valuation of ASC used to determine Safran’s 10 percent equity interest, and increases over time as LEAP production increases.

In accordance with the operating agreement, Albany received a $28 million preferred holding in ASC which includes a preferred return based on the Company’s revolving credit agreement. The common shares of ASC are owned 90 percent by Albany and 10 percent by Safran.

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

(in thousands, except percentages)	2017		2016
Net (loss)/income of ASC	$(4,224	)	$1,777
Less: Return attributable to the Company’s preferred holding	1,032		987
Net (loss)/income of ASC available for common ownership	($5,256	)	$790
Ownership percentage of noncontrolling shareholder	10%		10%
Net (loss)/income attributable to noncontrolling interest	($526	)	$79

Noncontrolling interest, beginning of year	$3,767		$3,690
Net (loss)/income attributable to noncontrolling interest	(526	)	79
Changes in other comprehensive income attributable to noncontrolling interest	6		(2	)
Noncontrolling interest, end of year	$3,247		$3,767

Property, Plant and Equipment

12 Months Ended

Dec. 31, 2017

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

11. Property, Plant and Equipment

The table below sets forth the reclassification and components of property, plant and equipment as of December 31, 2017 and 2016:

(in thousands)	2017		2016		Estimated useful life

Land and land improvements	$14,853		$13,339		25 years for improvements

Buildings	230,987		214,086		25 to 40 years

Building under capital lease	8,140		8,140		7 years

Machinery and equipment	950,519		842,921		5 to 15 years

Furniture and fixtures	8,861		7,632		5 years

Computer and other equipment	15,610		15,264		3 to 10 years

Software	57,847		54,212		5 to 8 years

Capital expenditures in progress	63,951		66,900

Property, plant and equipment, gross	1,350,768		1,222,494

Accumulated depreciation and amortization	(896,466	)	(799,930	)

Property, plant and equipment, net	$454,302		$422,564

Depreciation expense was $61.5 million in 2017, $58.1 million in 2016, and $53.0 million in 2015. Software amortization is recorded in Selling, general, and administrative expense and was $3.6 million in 2017, $4.0 million in 2016, and $6.5 million in 2015. We include amortization of the capital lease in depreciation expense. Accumulated amortization of the capital lease was $2.4 million and $0.9 million as of December 31, 2017 and 2016, respectively.

Capital expenditures, including purchased software, were $87.6 million in 2017, $73.5 million in 2016, and $50.6 million in 2015. Unamortized software cost was $7.6 million and $7.2 million as of December 31, 2017 and 2016, respectively. Expenditures for maintenance and repairs are charged to income as incurred and amounted to $19.1 million in 2017, $16.6 million in 2016, and $16.6 million in 2015.

Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

12. Goodwill and Other Intangible Assets

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.

In the second quarter of 2017, the Company applied the qualitative assessment approach in performing its annual evaluation of 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, of each reporting unit.

In the third quarter of 2017, the Company decided to discontinue the Bear Claw® line of hydraulic fracturing components used in the oil and gas industry, which was part of the Harris aerostructures business acquired by AEC in 2016. This decision resulted in a non-cash write-off of intangibles for $4.1 million to restructuring expense, which is presented as other changes in the table below for intangible assets and goodwill in 2017. The write-off represents the full carrying value of intangible assets associated with the Bear Claw® product line as, based upon anticipated cash flows and the Company’s plan to exit the business, we determined the product line to have no fair value as of September 30, 2017. Due to the decision to exit this product line, management performed an interim assessment of goodwill and concluded that no goodwill was allocable to the Bear Claw® product line, and no impairment provision was required.

We are continuing to amortize certain patents, trade names, customer contracts and technology assets that have finite lives. The changes in intangible assets and goodwill from December 31, 2015 to December 31, 2017, were as follows:

(in thousands, except for years)	Amortization life in years	Balance at December 31, 2016	Amortization		Other Changes		Currency Translation	Balance at December 31, 2017
Amortized intangible assets:
AEC trade names	15	$20	($5	)	$-		$-	$15
AEC technology	15	104	(24	)	-		-	80
AEC customer contracts	6	17,859	(3,280	)	(961	)	-	13,618
AEC customer relationships	15	47,009	(3,280	)	(2,211	)	-	41,518
AEC other intangibles	5	1,462	(275	)	(977	)	-	210
Total amortized intangible assets		$66,454	($6,864	)	($4,149	)	$-	$55,441

Unamortized intangible assets:
MC Goodwill		$64,645	$-		$-		$6,421	$71,066
AEC Goodwill		95,730	-		-		-	95,730
Total amortized intangible assets		$160,375	$-		$-		$6,421	$166,796

(in thousands, except for years)	Amortization life in years	Balance at December 31, 2015	Acquisition	Amortization		Currency Translation		Balance at December 31, 2016
Amortized intangible assets:
AEC trade names	15	$25	$-	($5	)	$-		$20
AEC technology	15	129	-	(25	)	-		104
AEC customer contracts	6	-	20,420	(2,561	)	-		17,859
AEC customer relationships	15	-	49,490	(2,481	)	-		47,009
AEC other intangibles	5	-	1,720	(258	)	-		1,462
Total amortized intangible assets		$154	$71,630	($5,330	)	$-		$66,454

Unamortized intangible assets:
MC Goodwill		$66,373	$-	$-		($1,728	)	$64,645
AEC Goodwill		-	95,730	-		-		95,730
Total amortized intangible assets		$66,373	$95,730	$-		($1,728	)	$160,375

As of December 31, 2017, the gross carrying amount and accumulated amortization of amortized intangible assets was $66.7 million and $11.3 million, respectively. As of December 31, 2016, the gross carrying amount and accumulated amortization of amortized intangible assets was $72.1 million and $5.6 million, respectively.

On April 8, 2016, the Company acquired the outstanding shares of Harris Corporation’s composite aerostructures business. The assets acquired include amortizable intangible assets of $71.6 million and goodwill of $95.7 million.

Amortization expense related to intangible assets was reported in the Consolidated Statement of Income as follows: $3.3 million in Cost of goods sold and $3.6 million in Selling, general and administrative expenses in 2017; and $2.6 million in Cost of goods sold and $2.7 million in Selling, general and administrative expenses in 2016. In 2015, all intangible amortization expense was included in Cost of goods sold. Estimated amortization expense of intangibles for the years ending December 31, 2018 through 2022, is as follows:

			Annual amortization
Year			(in thousands)
2018			$6,232
2019			6,232
2020			6,232
2021			6,161
2022			3,955

- 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

Accrued Liabilities

12 Months Ended

Dec. 31, 2017

Payables and Accruals [Abstract]

Accrued Liabilities

13. Accrued Liabilities

Accrued liabilities consist of:

(in thousands)	2017	2016
Salaries and wages	$17,916	$18,520
Accrual for compensated absences	11,223	10,181
Employee benefits	13,553	13,277
Workers’ compensation	2,397	2,053
Pension liability - current portion	2,094	2,057
Postretirement medical benefits - current portion	4,108	4,195
Returns and allowances	11,370	13,714
Billings in excess of revenue recognized	2,569	2,334
Contract loss reserve	11,902	56
Professional fees	2,310	3,068
Utilities	910	991
Dividends	5,474	5,458
Restructuring costs	2,714	4,668
Interest	817	1,218
Other	16,557	13,405
Total	$105,914	$95,195

Financial Instruments

12 Months Ended

Dec. 31, 2017

Long-term Debt and Capital Lease Obligations [Abstract]

Financial Instruments

14. Financial Instruments

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

(in thousands, except interest rates)	2017		2016

Revolving credit agreements with borrowings outstanding at an end of period interest rate of 3.40% in 2017 and 2.58% in 2016 (including the effect of interest rate hedging transactions, as described below), due in 2022	$501,000		$418,000

Private placement with a fixed interest rate of 6.84%, final payment was made October 25, 2017	-		50,000

Obligation under capital lease, matures 2022	14,919		16,584

Long-term debt	515,919		484,584

Less: current portion	(1,799	)	(51,666	)

Long-term debt, net of current portion	$514,120		$432,918

Principal payments due on long-term debt are: 2019, $1.9 million, 2020, $2.0 million, 2021, $2.1 million, and 2022, $508.1 million. Cash payments of interest amounted to $16.0 million in 2017, $13.7 million in 2016, and $12.6 million in 2015.

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%. The final principal payment under the Prudential Agreement of $50.0 million was made on October 25, 2017.

On November 7, 2017, we entered into a $685 million unsecured Five-Year Revolving Credit Facility Agreement (the “Credit Agreement”) which amended and restated the prior $550 million Agreement, entered into on April 8, 2016 (the “Prior Agreement”). Under the Credit Agreement, $501 million of borrowings were outstanding as of December 31, 2017. 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 December 18, 2017, the spread was 1.500%. The spread was based on a pricing grid, which ranged from 1.250% to 1.750%, 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 December 31, 2017, we would have been able to borrow an additional $184 million under the Agreement.

The Credit Agreement contains customary terms, as well as affirmative covenants, negative covenants and events of default that are substantially 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).

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 5.0% and matures in 2022.

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 December 31, 2017.

Years ending December 31,	(in thousands)
2018	$2,473
2019	2,473
2020	2,520
2021	2,520
2022	7,373
Total minimum lease payments	17,359
Less: Amount representing interest	(2,440	)
Present value of minimum lease payments	$14,919

On November 27, 2017, we terminated our interest rate swap agreements, originally entered into on May 9, 2016, that had effectively fixed the interest rate on $300 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 received $6.3 million to terminate the swap agreements and that payment will be amortized into interest expense through March 2021.

On May 6, 2016, we terminated other interest rate swap agreements that had effectively fixed the interest rate on $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 November 28, 2017, we entered into interest rate swap agreements for the period December 18, 2017 through October 17, 2022. These transactions have the effect of fixing the LIBOR portion of the effective interest rate (before addition of the spread) on $350 million of indebtedness drawn under the Credit Agreement at the rate of 2.11% during the period. Under the terms of these transactions, we pay the fixed rate of 2.11% and the counterparties pay a floating rate based on the one-month LIBOR rate at each monthly calculation date, which on December 18, 2017 was 1.50%, during the swap period. On December 18, 2017, the all-in-rate on the $350 million of debt was 3.61%.

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 we are currently required to maintain a leverage ratio (as defined in the agreement) of not greater than 3.75 to 1.00 for each fiscal quarter ending prior to (but not including) September 30, 2019, and 3.50 to 1.00 for each fiscal quarter ending on or after September 30, 2019, and minimum interest coverage (as defined) of 3.00 to 1.00.

As of December 31, 2017, our leverage ratio was 2.62 to 1.00 and our interest coverage ratio was 9.27 to 1.00. We may purchase our Common Stock or pay dividends to the extent our leverage ratio remains at or below 3.50 to 1.00, and may make acquisitions with cash provided our leverage ratio does not exceed the limits noted above.

Indebtedness under 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 December 31, 2017.

Fair-Value Measurements

12 Months Ended

Dec. 31, 2017

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. We had no Level 3 financial assets or liabilities at December 31, 2017, or at December 31, 2016.

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:

	December 31, 2017				December 31, 2016
	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	$13,601	$-		$-	$8,468	$-		$-
Other Assets:
Common stock of foreign public company^(a)	999	-		-	762	-		-
Interest rate swaps	-	313	^(b)	-	-	5,784	^(c)	-
Liabilities:
Other noncurrent liabilities:
Interest rate swaps	-	-		-	-	-		-

(a)

Original cost basis $0.5 million.

(b)

Net of $34.9 million receivable floating leg and $34.6 million liability fixed leg

(c)

Net of $21.4 million receivable floating leg and $15.6 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.

We operate our business in many regions of the world, and currency rate movements can have a significant effect on operating results. Foreign currency instruments are entered into periodically, and consist of foreign currency option contracts and forward contracts that are valued using quoted prices in active markets obtained from independent pricing sources. These instruments are measured using market foreign exchange prices and are recorded in the Consolidated Balance Sheets as Other current assets and Accounts payable, as applicable. Changes in fair value of these instruments are recorded as gains or losses within Other expense/(income), 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.

Changes in exchange rates can result in revaluation gains and losses that are recorded in Selling, General and Administrative expenses or Other expense/(income), net. Revaluation gains and losses occur when our business units have cash, intercompany (recorded in Other expense/(income), 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 December 31, 2017, 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 payments under the active swap agreements totaled $0.8 million in 2017, $1.9 million in 2016 and $1.9 million in 2015. Additionally, non-cash interest expense related to the amortization of swap buyouts totaled $0.7 million in 2017, $0.6 million in 2016, and is expected to be reduce interest expense by $0.6 million in 2018.

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

	Years ended December 31,
(in thousands)	2017	2016	2015

Derivatives not designated as hedging instruments Foreign currency options	($131)	$202	($121)

- 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

Other Noncurrent Liabilities

12 Months Ended

Dec. 31, 2017

Other Liabilities Disclosure [Abstract]

Other Noncurrent Liabilities

16. Other Noncurrent Liabilities

As of December 31 of each year, Other noncurrent liabilities consists of:

(in thousands)	2017	2016

Pension liabilities	$39,473	$35,921
Postretirement benefits other than pensions	54,423	53,293
Obligations under license agreement	897	10,254
Incentive and deferred compensation	3,048	3,468
Restructuring	600	908
Other	3,114	2,983
Total	$101,555	$106,827

Commitments and Contingencies

12 Months Ended

Dec. 31, 2017

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

17. Commitments and Contingencies

Principal leases are for machinery and equipment, vehicles, and real property. Certain leases contain renewal and purchase option provisions at fair values. Total rental expense amounted to $4.9 million in 2017, $5.2 million in 2016, and $3.5 million in 2015.

Future rental payments required under operating leases that have initial or remaining non-cancelable lease terms in excess of one year, as of December 31, 2017, are: 2018, $4.1 million; 2019, $3.3 million; 2020, $2.4 million; 2021, $1.8 million; and 2022 and thereafter, $4.0 million.

Asbestos Litigation

Albany International Corp. is a defendant in suits brought in various courts in the United States by plaintiffs who allege that they have suffered personal injury as a result of exposure to asbestos-containing paper machine clothing synthetic dryer fabrics marketed during the period from 1967 to 1976 and used in certain paper mills.

We were defending 3,730 claims as of December 31, 2017.

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
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
2016	3,791	148	102	3,745	758
2017	3,745	105	90	3,730	$55

We anticipate that additional claims will be filed against the Company and related companies in the future, but are unable to predict the number and timing of such future claims. Due to the fact that information sufficient to meaningfully estimate a range of possible loss of a particular claim is typically not available until late in the discovery process, we do not believe a meaningful estimate can be made regarding the range of possible loss with respect to pending or future claims and therefore are unable to estimate a range of reasonably possible loss in excess of amounts already accrued for pending or future claims.

While we believe we have meritorious defenses to these claims, we have settled certain claims for amounts we consider reasonable given the facts and circumstances of each case. Our insurance carrier has defended each case and funded settlements under a standard reservation of rights. As of December 31, 2017 we had resolved, by means of settlement or dismissal, 37,594 claims. The total cost of resolving all claims was $10.2 million. Of this amount, almost 100 percent was paid by our insurance carrier, who has confirmed that we have approximately $140 million of remaining coverage under primary and excess policies that should be available with respect to current and future asbestos claims.

The Company’s subsidiary, Brandon Drying Fabrics, Inc. (“Brandon”), is also a separate defendant in many of the asbestos cases in which Albany is named as a defendant, despite never having manufactured any fabrics containing asbestos. While Brandon was defending against 7,707 claims as of December 31, 2017, only nine claims have been filed against Brandon since January 1, 2012, and no settlement costs have been incurred since 2001. Brandon was acquired by the Company in 1999, and has its own insurance policies covering periods prior to 1999. Since 2004, Brandon’s insurance carriers have covered 100 percent of indemnification and defense costs, subject to policy limits and a standard reservation of rights.

In some of these asbestos cases, the Company is named both as a direct defendant and as the “successor in interest” to Mount Vernon Mills (“Mount Vernon”). We acquired certain assets from Mount Vernon in 1993. Certain plaintiffs allege injury caused by asbestos-containing products alleged to have been sold by Mount Vernon many years prior to this acquisition. Mount Vernon is contractually obligated to indemnify the Company against any liability arising out of such products. We deny any liability for products sold by Mount Vernon prior to the acquisition of the Mount Vernon assets. Pursuant to its contractual indemnification obligations, Mount Vernon has assumed the defense of these claims. On this basis, we have successfully moved for dismissal in a number of actions.

We currently do not anticipate, based on currently available information, that the ultimate resolution of the aforementioned proceedings will have a material adverse effect on the financial position, results of operations, or cash flows of the Company. Although we cannot predict the number and timing of future claims, based on the foregoing factors, the trends in claims filed against us, and available insurance, we also do not currently anticipate that potential future claims will have a material adverse effect on our financial position, results of operations, or cash flows.

Stock Options and Incentive Plans

12 Months Ended

Dec. 31, 2017

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock Options and Incentive Plans

18. Stock Options and Incentive Plans

We recognized no stock option expense during 2017, 2016 or 2015 and there are currently no remaining unvested options for which stock-option compensation costs will be recognized in future periods.

There have been no stock options granted since November 2002 and we have no stock option plan under which options may be granted, although options may be granted under the Company’s 2011 incentive plan. Options issued under previous plans and still outstanding were exercisable in five cumulative annual amounts beginning twelve months after date of grant. Option exercise prices were normally equal to and were not permitted to be less than the market value on the date of grant. Unexercised options generally terminate twenty years after the date of grant for all plans, and must be exercised within ten years of retirement.

Activity with respect to these plans is as follows:

	2017	2016	2015
Shares under option January 1	62,390	88,773	187,233
Options canceled	150	-	-
Options exercised	32,900	26,383	98,460
Shares under option at December 31	29,340	62,390	88,773
Options exercisable at December 31	29,340	62,390	88,773

The weighted average exercise price is as follows:

	2017	2016	2015
Shares under option January 1	$18.28	$18.67	$18.99
Options canceled	20.63	-	-
Options exercised	18.16	19.60	19.27
Shares under option December 31	18.40	18.28	18.67
Options exercisable December 31	18.40	18.28	18.67

As of December 31, 2017, the aggregate intrinsic value of vested options was $1.3 million. The aggregate intrinsic value of options exercised was $1.1 million in 2017, $0.5 million in 2016, and $2.0 million in 2015.

Executive Management share-based compensation:

In 2011, shareholders approved the Albany International 2011 Incentive Plan. Awards granted to date under these plans provide key members of management with incentive compensation based on achieving certain performance targets over a three year period. Such awards are paid out partly in cash and partly in shares of Class A Common Stock. Participants may elect to receive shares net of applicable income taxes. In March 2017, we issued 25,899 shares and made cash payments totaling $1.0 million. In March 2016, we issued 26,146 shares and made cash payments totaling $0.8 million. In March 2015, we issued 35,393 shares and made cash payments totaling $1.2 million. If a person terminates employment prior to the award becoming fully vested, the person may forfeit all or a portion of the incentive compensation award. The grant date share price is determined when the awards are approved each year and that price is used for measuring the cost for the share-based portion of the award. Expense associated with these awards is recognized over the three year vesting period. In connection with this plan, we recognized expense of $2.6 million in 2017, $2.7 million in 2016 and $3.0 million in 2015. For share-based awards that are dependent on performance after 2017, we expect to record additional compensation expense of approximately $1.2 million in 2018 and $0.4 million in 2019.

In 2011, the Board of Directors modified the annual incentive plan for executive management whereby 40 to 50 percent of the earned incentive compensation is payable in the form of shares of Class A Common Stock. Participants may elect to receive shares net of applicable income taxes. In March 2017, the Company issued 18,784 shares and made cash payments totaling $1.9 million as a result of performance in 2016. In March 2016, the Company issued 26,774 shares and made cash payments totaling $1.9 million as a result of performance in 2015. In March 2015, the Company issued 19,571 shares and made cash payments totaling $1.5 million as a result of performance in 2014. The allocation of the award between cash and shares is determined by an average share price after the year of performance. Expense recorded for this plan was $2.6 million in 2017, $3.3 million in 2016, and $3.4 million in 2015.

Shares payable under these plans generally vest immediately prior to payment. As of December 31, 2017, there were 190,616 shares of Company stock authorized for the payment of awards under these plans. Information with respect to these plans is presented below:


	Number of shares		Weighted average grant date value per share	Year-end intrinsic value (000’s)
Shares potentially payable at January 1, 2015	185,199		$30.69	$5,683
Forfeitures	-		-
Payments	(95,889	)	$29.09
Shares accrued based on 2015 performance	98,998		$38.01
Shares potentially payable at December 31, 2015	188,308		$35.35	$6,657
Forfeitures	-		-
Payments	(86,926	)	$33.43
Shares accrued based on 2016 performance	88,036		$36.78
Shares potentially payable at December 31, 2016	189,418		$36.90	$6,989
Forfeitures	-		-
Payments	(75,545	)	$36.35
Shares accrued based on 2017 performance	43,532		$48.26
Shares potentially payable at December 31, 2017	157,405		$40.30	$6,343

Other Management share-based compensation:

In 2012, the Company adopted a Phantom Stock Plan that replaced the Restricted Stock Program. Awards under this program vest over a five-year period and are paid annually in cash based on current market prices of the Company’s stock. Under this program, employees may earn more or less than the target award based on the Company’s results in the year of the award. Expense recognized for this plan amounted to $4.9 million in 2017, $3.8 million in 2016, and $2.6 million in 2015. Based on awards outstanding at December 31, 2017, we expect to record approximately $10.0 million of compensation cost from 2018 to 2021. The weighted average period for recognition of that cost is approximately 2 years.

The determination of compensation expense for other management share-based compensation plans is based on the number of outstanding share units, the end-of-period share price, and Company performance. Information with respect to these plans is presented below:

	Number of shares		Weighted average grant date value per share	Cash paid for share based liabilities (000’s)
Share units potentially payable at January 1, 2015	347,941
Grants	90,065
Changes due to performance	13,966
Payments	(167,482	)	$36.08	$6,040
Forfeitures	(31,624	)
Share units potentially payable at December 31, 2015	252,866
Grants	118,279
Changes due to performance	18,779
Payments	(88,073	)	$33.20	$2,924
Forfeitures	(40,706	)
Share units potentially payable at December 31, 2016	261,145
Grants	96,505
Changes due to performance	(11,891	)
Payments	(89,190	)	$46.64	$4,160
Forfeitures	(20,473	)
Share units potentially payable at December 31, 2017	236,096

The Company maintains a voluntary savings plan covering substantially all employees in the United States. The Plan, known as the Prosperity Plus Savings Plan, is a qualified plan under section 401(k) of the U.S. Internal Revenue Code. The Company matches, in the form of cash, between 50 percent and 100 percent of employee contributions up to a defined maximum. The investment of employee contributions to the plan is self-directed. The Company’s cost of the plan amounted to $5.9 million in 2017, $5.5 million in 2016, and $4.8 million in 2015.

The Company’s profit-sharing plan covers substantially all employees in the United States. After the close of each year, the Board of Directors determines the amount of the profit-sharing contribution. Company contributions to the plan are in the form of cash. The expense recorded for this plan was $2.6 million in 2017, $2.9 million in 2016, and $2.4 million in 2015.

Shareholders' Equity

12 Months Ended

Dec. 31, 2017

Stockholders' Equity Note [Abstract]

Shareholders' Equity

19. Shareholders’ Equity

We have two classes of Common Stock, Class A Common Stock and Class B Common Stock, each with a par value of $0.001 and equal liquidation rights. Each share of our Class A Common Stock is entitled to one vote on all matters submitted to shareholders, and each share of Class B Common Stock is entitled to ten votes. Class A and Class B Common Stock will receive equal dividends as the Board of Directors may determine from time to time. The Class B Common Stock is convertible into an equal number of shares of Class A Common Stock at any time. At December 31, 2017, 3.3 million shares of Class A Common Stock were reserved for the conversion of Class B Common Stock and the exercise of stock options.

In August 2006, we announced that the Board of Directors authorized management to purchase up to 2.0 million additional shares of our Class A Common Stock. The Board’s action authorizes management to purchase shares from time to time, in the open market or otherwise, whenever it believes such purchase to be advantageous to our shareholders, and it is otherwise legally permitted to do so. We have made no share purchases under the August 2006 authorization. Activity in Shareholders’ equity for 2015, 2016, and 2017 is presented below:


							Accumulated
	Class A		Class B		Additional		items of other	Class A
	Common Stock		Common Stock		paid-in	Retained	comprehensive	Treasury Stock		Noncontrolling
(in thousands)	Shares	Amount	Shares	Amount	capital	earnings	income	Shares	Amount	Interest
January 1, 2015	37,085	$37	3,235	$3	$418,972	$456,105	($107,767)	8,459	($257,481)	$3,699
Net income	-	-	-	-	-	57,279	-	-	-	(14)
Compensation and benefits paid or payable in shares	55	-	-	-	1,540	-	-	-	-	-
Options exercised	99	-	-	-	2,520	-	-	-	-	-
Shares issued to Directors’	-	-	-	-	76	-	-	(4)	90	-
Dividends declared	-	-	-	-	-	(21,434)		-	-	-

Cumulative translation adjustments	-	-	-	-	-	-	(53,415)	-	-	5
Pension and postretirement liability adjustments	-	-	-	-	-	-	2,941	-	-	-
Derivative valuation adjustment	-	-	-	-	-	-	(603)	-	-	-
December 31, 2015	37,239	$37	3,235	$3	$423,108	$491,950	($158,844)	8,455	($257,391)	$3,690
Net income	-	-	-	-	-	52,733	-	-	-	79
Compensation and benefits paid or payable in shares	53	-	-	-	1,980	-	-	-	-	-
Options exercised	26	-	-	-	667	-	-	-	-	-
Shares issued to Directors’	1	-	(1)	-	198	-	-	(12)	255	-
Dividends declared	-	-	-	-	-	(21,828)	-	-	-	-

Cumulative translation adjustments	-	-	-	-	-	-	(24,643)	-	-	(2)
Pension and postretirement liability adjustments	-	-	-	-	-	-	(2,994)	-	-	-
Derivative valuation adjustment	-	-	-	-	-	-	2,292	-	-	-
December 31, 2016	37,319	$37	3,234	$3	$425,953	$522,855	($184,189)	8,443	($257,136)	$3,767
Net income	-	-	-	-	-	33,111	-	-	-	(526)
Compensation and benefits paid or payable in shares	44	-	-	-	1,564	-	-	-	-	-
Options exercised	33	-	-	-	597	-	-	-	-	-
Shares issued to Directors’	-	-	-	-	309	-	-	(12)	260	-
Dividends declared	-	-	-	-	-	(21,884)	-	-	-	-

Cumulative translation adjustments	-	-	-	-	-	-	45,980	-	-	6
Pension and postretirement liability adjustments	-	-	-	-	-	-	1,183	-	-	-
Derivative valuation adjustment	-	-	-	-	-	-	1,125	-	-	-
December 31, 2017	37,396	$37	3,234	$3	$428,423	$534,082	($135,901)	8,431	($256,876)	$3,247

Quarterly Financial Data (unaudited)

12 Months Ended

Dec. 31, 2017

Quarterly Financial Data [Abstract]

Quarterly Financial Data

20. Quarterly Financial Data (unaudited)

The following table presents certain unaudited quarterly consolidated statement of operations data from continuing operations for each of the quarters in the periods ended December 31, 2017, 2016, and 2015. The information has been derived from our unaudited financial statements, which have been prepared on substantially the same basis as the audited consolidated financial statements contained in this report. We have presented quarterly earnings per share numbers as reported in our earnings releases. The table below presents operating results as filed in our quarterly reports for the first three quarters of each year. Fourth quarter results presented below may vary from our quarterly earnings report in order to agree to the full year totals. The results of operations for any quarter are not necessarily indicative of the results to be expected for any future period.

(in millions, except per share amounts)
2017	1st	2nd	3rd	4th	Total
Net sales	$199.3	$215.6	$222.1	$226.7	$863.7
Gross profit	75.9	63.1	79.4	77.4	295.8
Net income attributable to the Company	10.8	1.1	15.3	5.9	33.1
Basic earnings per share	0.34	0.03	0.47	0.19	1.03
Diluted earnings per share	0.34	0.03	0.47	0.19	1.03
Cash dividends per share	0.17	0.17	0.17	0.17	0.68
Class A Common Stock prices:
High	49.05	53.40	57.60	65.25
Low	43.90	43.90	50.25	56.45

2016	1st	2nd	3rd	4th	Total
Net sales	$172.3	$203.2	$191.3	$213.0	$779.8
Gross profit	72.5	78.3	72.4	77.4	300.6
Net income attributable to the Company	13.5	10.4	13.1	15.8	52.8
Basic earnings per share	0.42	0.32	0.41	0.49	1.64
Diluted earnings per share	0.42	0.32	0.41	0.49	1.64
Cash dividends per share	0.17	0.17	0.17	0.17	0.68
Class A Common Stock prices:
High	38.21	41.31	43.78	49.25
Low	31.43	37.27	38.92	38.65

2015	1st	2nd	3rd	4th	Total
Net sales	$181.3	$172.3	$178.8	$177.5	$709.9
Gross profit	76.7	54.6	75.7	71.7	278.7
Net income/(loss) attributable to the Company	12.2	(2.2)	9.7	37.6	57.3
Basic earnings per share	0.38	(0.07)	0.30	1.18	1.79
Diluted earnings per share	0.38	(0.07)	0.30	1.18	1.79
Cash dividends per share	0.16	0.17	0.17	0.17	0.67
Class A Common Stock prices:
High	40.31	41.15	40.21	39.25
Low	34.13	39.15	28.28	28.19

Earnings per share for the fourth quarter of 2017, as reported in the table above, is $0.01 higher than our quarterly earnings report due to rounding needed to match the full year total.

In 2017, restructuring charges reduced earnings per share by $0.05 in the first quarter, $0.04 in the second quarter, $0.11 in the third quarter, and $0.07 in the fourth quarter. The amount recognized in the third quarter was primarily non-cash charges associated with the decision to exit a discontinued product line.

In 2017, discrete income tax adjustments, increased/(decreased) earnings per share by ($0.03) in the first quarter, ($0.02) in the second quarter, $0.12 in the third quarter, and ($0.21) in the fourth quarter. The amount recognized in the fourth quarter was primarily from changes in U.S. tax laws.

In 2017, we recorded a write-off of inventory in a discontinued product line in the third quarter of 2017. The write-off (decreased)/increased earnings per share by ($0.06) in the third quarter and $0.01 in the fourth quarter.

In 2016, restructuring charges reduced earnings per share by $0.01 in the first quarter, $0.13 in the second quarter, $0.01 in the third quarter, and $0.01 in the fourth quarter.

In 2016, we recorded measurement period adjustments related to the business acquisition that occurred in the second quarter of 2016. Measurement period adjustments decreased earnings per share by $0.03 in the third quarter, and $0.00 in the fourth quarter. Costs related to the acquisition transaction reduced earnings per share by $0.03 in the first quarter, $0.08 in the second quarter, $0.00 in the third quarter, and $0.00 in the fourth quarter.

In 2016, discrete income tax adjustments, increased earnings per share by $0.03 in the first quarter, $0.00 in the second quarter, $0.00 in the third quarter, and $0.04 in the fourth quarter.

In 2015, restructuring charges reduced earnings per share by $0.18 in the first quarter, $0.02 in the second quarter, $0.07 in the third quarter, and $0.21 in the fourth quarter.

In 2015, discrete income tax adjustments, increased/(decreased) earnings per share by $(0.01) in the first quarter, $0.00 in the second quarter, ($0.15) in the third quarter, and $0.85 in the fourth quarter. The amount recognized in the fourth quarter was principally due to a worthless stock deduction for the Company’s investment in its German subsidiary.

In 2015, we recognized a gain related to the sale of investment of $0.02 per share in the first quarter.

The Company’s Class A Common Stock is traded principally on the New York Stock Exchange. As of December 31, 2017, there were over 20,000 beneficial owners of the Company’s common stock, including employees owning shares through the Company’s 401(k) defined contribution plan.

VALUATION AND QUALIFYING ACCOUNTS

12 Months Ended

Dec. 31, 2017

Valuation and Qualifying Accounts [Abstract]

VALUATION AND QUALIFYING ACCOUNTS

Column A	Column B	Column C		Column D		Column E

Description	Balance at beginning of period	Charge to expense		Other (A)		Balance at end of the period
Allowance for doubtful accounts
Year ended December 31:
2017	$6,952	$1,388		($421	)	$7,919
2016	8,530	23		(1,601	)	6,952
2015	8,713	744		(927	)	8,530

Allowance for sales returns
Year ended December 31:
2017	$13,714	$8,909		($11,253	)	$11,370
2016	14,024	10,851		(11,161	)	13,714
2015	17,265	10,640		(13,881	)	14,024

Valuation allowance deferred tax assets
Year ended December 31:
2017	$22,821	($3,552	)	($3,212	)	$16,057
2016	24,439	(88	)	(1,530	)	22,821
2015	21,860	75		2,504		24,439

(A)

Amounts sold, written off, or recovered, and the effect of changes in currency translation rates, are included in Column D.

Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2017

Accounting Policies [Abstract]

Basis of Consolidation

Basis of Consolidation

Estimates

Estimates

Revenue Recognition

Revenue Recognition

Cost of Goods Sold

Cost of Goods Sold

Selling, General, Administrative, Technical, and Research Expenses

Selling, General, Administrative, Technical, and Research Expenses

Restructuring Expense

Restructuring Expense

Income Taxes

Income Taxes

Earnings Per Share

Earnings Per Share

Translation of Financial Statements

Translation of Financial Statements

The following table summarizes foreign currency transaction gains and losses recognized in the income statement:

(in thousands)	2017	2016	2015
Losses/(gains) included in:
Selling, general, and administrative expenses	$4,127	($381)	(5,090)
Other expense/(income), net	4,634	(3,532)	1,496
Total transaction losses/(gains)	$8,761	($3,913)	($3,594)

The following table presents foreign currency gains and losses on long-term intercompany loans that were recognized in Other comprehensive income:

(in thousands)		2017		2016		2015
Gain/(loss) on long-term intercompany loans		$1,867		$3,515		($5,225)

Cash and Cash Equivalents

Cash and Cash Equivalents

Cash and cash equivalents consist of cash and highly liquid short-term investments with original maturities of three months or less.

Accounts Receivable

Accounts Receivable

As of December 31, 2017 and 2016, Accounts receivable consisted of the following:

(in thousands)	2017		2016
Trade and other accounts receivable	$152,375		$146,460
Bank promissory notes	20,255		15,759
Revenue in excess of progress billings	37,964		15,926
Allowance for doubtful accounts	(7,919	)	(6,952	)
Total accounts receivable	$202,675		$171,193

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.

Inventories

Inventories

As of December 31, 2017 and 2016, inventories consisted of the following:

(in thousands)	2017	2016
Raw materials	$42,215	$37,691
Work in process	65,448	58,715
Finished goods	28,856	37,500
Total inventories	$136,519	$133,906

Property, Plant and Equipment

Property, Plant and Equipment

Goodwill, Intangibles, and Other Assets

Goodwill, Intangibles, and Other Assets

Stock-Based Compensation

Stock-Based Compensation

Derivatives

Derivatives

Pension and Postretirement Benefit Plans

Pension and Postretirement Benefit Plans

Recent Accounting Pronouncements

Recent Accounting Pronouncements

Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2017

Accounting Policies [Abstract]

Schedule of Foreign Currency Transaction Gains and Losses

The following table summarizes foreign currency transaction gains and losses recognized in the income statement:

(in thousands)	2017	2016	2015
Losses/(gains) included in:
Selling, general, and administrative expenses	$4,127	($381)	(5,090)
Other expense/(income), net	4,634	(3,532)	1,496
Total transaction losses/(gains)	$8,761	($3,913)	($3,594)

Schedule of foreign currency gains and losses on long-term intercompany loans

The following table presents foreign currency gains and losses on long-term intercompany loans that were recognized in Other comprehensive income:

(in thousands)		2017		2016		2015
Gain/(loss) on long-term intercompany loans		$1,867		$3,515		($5,225)

Schedule of Accounts Receivable

As of December 31, 2017 and 2016, Accounts receivable consisted of the following:

(in thousands)	2017		2016
Trade and other accounts receivable	$152,375		$146,460
Bank promissory notes	20,255		15,759
Revenue in excess of progress billings	37,964		15,926
Allowance for doubtful accounts	(7,919	)	(6,952	)
Total accounts receivable	$202,675		$171,193

Schedule of Inventories

As of December 31, 2017 and 2016, inventories consisted of the following:

(in thousands)	2017	2016
Raw materials	$42,215	$37,691
Work in process	65,448	58,715
Finished goods	28,856	37,500
Total inventories	$136,519	$133,906

Business Acquisition (Tables)

12 Months Ended

Dec. 31, 2017

Business Combinations [Abstract]

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

(in thousands)		April 8, 2016
Assets acquired
Accounts receivable		$15,443
Inventories		16,670
Prepaid expenses and other current assets		402
Property, plant and equipment		62,784
Intangibles		71,630
Goodwill		95,730
Total assets acquired		$262,659

Liabilities assumed
Accounts payable		$10,323
Accrued liabilities		2,862
Capital lease obligation		17,560
Deferred income taxes		33,143
Other noncurrent liabilities		11,771
Total liabilities assumed		$75,659

Net assets acquired		$187,000

Schedule of Operational Results of Acquired Business

The following table presents operational results of the acquired entity that are included in the Consolidated Statements of Income (unaudited):

(in thousands, except per share amounts)	April 8 to December 31, 2016
Net sales	$67,011
Operating loss	(1,246	)
Loss before income taxes	(2,342	)
Net loss attributable to the Company	(1,495	)

Loss per share:
Basic	($0.05	)
Diluted:	($0.05	)

Schedule of Proforma Statement of Operations

The following table shows total Company pro forma statements of what results would have been if the 2016 acquisition had occurred as of January 1, 2015.

	Unaudited - Pro forma
(in thousands, except per share amounts)	2016	2015
Combined Net sales	$802,023	$786,623

Combined Income before income taxes	$80,639	$52,542

Pro forma increase/(decrease) to income before income taxes:
Acquisition expenses	5,367	-
Interest expense related to purchase price	(1,382)	(5,133)

Acquisition accounting adjustments:
Depreciation and amortization on property, plant and equipment, and intangible assets	(1,575)	(7,875)
Valuation of contract inventories	1,997	6,908
Interest expense on capital lease obligation	300	1,096
Interest expense on other obligations	(133)	(533)
Pro forma Income before income taxes	$85,213	$47,005

Pro forma Net Income attributable to the Company	$57,229	$54,245

Reportable Segments and Geographic Data (Tables)

12 Months Ended

Dec. 31, 2017

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:

(in thousands)	2017		2016		2015
Net Sales
Machine Clothing	$590,357		$582,190		$608,581
Albany Engineered Composites	273,360		197,649		101,287
Consolidated total	$863,717		$779,839		$709,868
Depreciation and amortization
Machine Clothing	33,527		36,428		39,503
Albany Engineered Composites	33,533		24,211		12,140
Corporate expenses	4,896		6,822		8,471
Consolidated total	$71,956		$67,461		$60,114
Operating income/(loss)
Machine Clothing	153,936		152,529		141,311
Albany Engineered Composites	(31,657	)	(15,363	)	(28,478	)
Corporate expenses	(46,128	)	(45,390	)	(48,938	)
Operating income	$76,151		$91,776		$63,895
Reconciling items:
Interest income	(1,511	)	(2,077	)	(1,857	)
Interest expense	18,602		15,541		11,841
Other expense, net	4,352		46		2,433
Income before income taxes	$54,708		$78,266		$51,478

Schedule of Restructuring Costs by Reporting Segment

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

(in thousands)	2017	2016		2015
Restructuring expenses, net
Machine Clothing	$3,429	$6,069		$22,211
Albany Engineered Composites	10,062	2,314		-
Corporate expenses	-	(7	)	1,635
Consolidated total	$13,491	$8,376		$23,846

Schedule of Operating Assets and Capital Expenditures by Reporting Segment

The following table presents assets and capital expenditures by reportable segment:

(in thousands)	2017	2016	2015
Segment assets
Machine Clothing	$464,468	$454,010	$494,347
Albany Engineered Composites	584,076	514,527	181,825
Reconciling items:
Cash	183,727	181,742	185,113
Asset held for sale	-	-	4,988
Income taxes prepaid, receivable and deferred	74,914	74,078	111,872
Other assets	54,013	39,076	31,417
Consolidated total assets	$1,361,198	$1,263,433	$1,009,562
Capital expenditures and purchased software
Machine Clothing	$20,522	$15,651	$16,010
Albany Engineered Composites	63,865	54,678	30,378
Corporate expenses	3,250	3,163	4,207
Consolidated total	$87,637	$73,492	$50,595

Schedule of Financial Data by Geographic Area

(in thousands)	2017	2016	2015
Net sales
United States	$459,525	$396,238	$323,399
Switzerland	147,601	145,479	159,804
Brazil	60,535	60,287	58,846
China	48,920	48,043	48,490
France	57,195	42,862	26,081
Mexico	31,902	27,526	30,581
Other countries	58,039	59,404	62,667
Consolidated total	$863,717	$779,839	$709,868
Property, plant and equipment, at cost, net
United States	$252,639	$245,626	$172,372
China	61,840	65,987	80,786
France	58,196	42,272	28,539
Mexico	22,981	7,781	5,264
Korea	14,558	15,585	19,095
United Kingdom	14,256	14,591	19,029
Canada	10,230	11,455	12,861
Other countries	19,602	$19,267	19,524
Consolidated total	$454,302	$422,564	$357,470

Pensions and Other Postretirement Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2017

Retirement Benefits [Abstract]

Schedule of Plan Benefit Obligations

The following table sets forth the plan benefit obligations:

	As of December 31, 2017				As of December 31, 2016
(in thousands)	Pension plans		Other postretirement benefits		Pension plans		Other postretirement benefits

Benefit obligation, beginning of year	$210,856		$57,488		$199,856		$59,970
Service cost	2,720		244		2,656		254
Interest cost	7,476		2,214		7,885		2,443
Plan participants’ contributions	211		-		249		-
Actuarial (gain)/loss	6,626		2,743		17,676		(395	)
Benefits paid	(7,697	)	(4,230	)	(7,057	)	(4,812	)
Settlements and curtailments	(8	)	-		(2,436	)	-
Plan amendments and other	(3	)	-		36		-
Foreign currency changes	10,730		72		(8,009	)	28
Benefit obligation, end of year	$230,911		$58,531		$210,856		$57,488

Accumulated benefit obligation	$220,622		$-		$200,790		$-

Weighted average assumptions used to determine benefit obligations, end of year:
Discount rate - U.S. plan	3.70	%	3.59	%	4.20	%	4.00	%
Discount rate - non-U.S. plans	2.83	%	3.40	%	2.98	%	3.70	%
Compensation increase - U.S. plan	-		-		-		-
Compensation increase - non-U.S. plans	3.02	%	3.00	%	3.29	%	3.00	%

Schedule of Plan Assets

The following sets forth information about plan assets:

	As of December 31, 2017				As of December 31, 2016
(in thousands)	Pension plans		Other postretirement benefits		Pension plans		Other postretirement benefits

Fair value of plan assets, beginning of year	$180,672		$-		$171,387		$-
Actual return on plan assets, net of expenses	19,182		-		19,740		-
Employer contributions	4,645		4,230		6,605		4,812
Plan participants’ contributions	211		37		249		72
Benefits paid	(7,697	)	(4,267	)	(7,057	)	(4,884	)
Settlements	(8	)	-		(2,308	)	-
Foreign currency changes	8,581		-		(7,944	)	-
Fair value of plan assets, end of year	$205,586		$-		$180,672		$-

Schedule of Funded Status of Plans

The funded status of the plans was as follows:

	As of December 31, 2017				As of December 31, 2016
(in thousands)	Pension plans		Other postretirement benefits		Pension plans		Other postretirement benefits

Fair value of plan assets	$205,586		$-		$180,672		$-
Benefit obligation	230,911		58,531		210,856		57,488
Funded status	($25,325	)	($58,531	)	($30,184	)	($57,488	)

Accrued benefit cost, end of year	($25,325	)	($58,531	)	($30,184	)	($57,488	)

Amounts recognized in the consolidated balance sheet consist of the following:
Noncurrent asset	$16,242		$-		$7,794		$-
Current liability	(2,094	)	(4,108	)	(2,057	)	(4,195	)
Noncurrent liability	(39,473	)	(54,423	)	(35,921	)	(53,293	)
Net amount recognized	($25,325	)	($58,531	)	($30,184	)	($57,488	)

Amounts recognized in accumulated other comprehensive income consist of:
Net actuarial loss	$67,283		$34,717		$72,400		$34,782
Prior service cost/(credit)	572		(26,411	)	597		(30,899	)
Net amount recognized	$67,855		$8,306		$72,997		$3,883

Schedule of composition of the net pension plan funded status

The composition of the net pension plan funded status as of December 31, 2017 was as follows:

			Non-U.S.
(in thousands)	U.S. plan		plans		Total

Pension plans with pension assets	($6,466	)	$13,870		$7,404
Pension plans without pension assets	(7,356	)	(25,373	)	(32,729	)
Total	($13,822	)	($11,503	)	($25,325	)

Schedule of Net Periodic Benefit Plan Cost

The composition of the net periodic benefit plan cost for the years ended December 31, 2017, 2016, and 2015, was as follows:

	Pension plans						Other postretirement benefits
(in thousands)	2017		2016		2015		2017		2016		2015

Components of net periodic benefit cost:
Service cost	$2,720		$2,656		$2,959		$244		$254		$330
Interest cost	7,476		7,885		7,787		2,214		2,443		2,437
Expected return on assets	(8,152	)	(8,675	)	(8,630	)	-		-		-
Amortization of prior service cost/(credit)	36		38		48		(4,488	)	(4,488	)	(4,488	)
Amortization of net actuarial loss	2,628		2,283		2,594		2,811		2,819		3,338
Settlement	-		162		103		-		-		-
Curtailment (gain)/loss	-		(111	)	-		-		-		-
Special/contractual termination of benefits	-		-		44		-		-		-
Net periodic benefit cost	$4,708		$4,238		$4,905		$781		$1,028		$1,617

Weighted average assumptions used to determine net cost:
Discount rate - U.S. plan	4.20	%	4.54	%	4.18	%	4.00	%	4.24	%	3.90	%
Discount rate - non-U.S. plan	2.98	%	3.67	%	3.58	%	3.70	%	4.00	%	3.85	%
Expected return on plan assets - U.S. plan	4.40	%	4.74	%	4.43	%	-		-		-
Expected return on plan assets - non-U.S. plans	4.46	%	5.39	%	5.52	%	-		-		-
Rate of compensation increase - U.S. plan	-		-		-		-		-		-
Rate of compensation increase - non-U.S. plans	3.29	%	3.24	%	3.23	%	3.00	%	3.00	%	3.00	%

Schedule of Pretax (gains)/Losses Recognized in Other Comprehensive Income

Pretax (gains)/losses on plan assets and benefit obligations recognized in other comprehensive income during 2017 were as follows:

			Other
	Pension		postretirement
(in thousands)	plan		benefits
Settlements/curtailments	$-		$-
Asset/liability loss/(gain)	(4,408	)	2,743
Amortization of actuarial (loss)	(2,628	)	(2,811	)
Amortization of prior service (cost)/credit	(36	)	4,488
Currency impact	1,930		2
Cost/(benefit) in other comprehensive income	($5,142	)	$4,422
Total cost/(benefit) recognized in net periodic benefit cost and other comprehensive income	($434	)	$5,203

Schedule of Amounts That Will Be Amortized from Accumulated Other Comprehensive Income

The estimated amounts that will be amortized from accumulated other comprehensive income into net periodic benefit cost in 2018 are as follows:

		Total
	Total	postretirement
(in thousands)	pension	benefits
Actuarial loss	$2,232	$2,956
Prior service cost/(benefit)	35	(4,488	)
Total	$2,267	($1,532	)

Schedule of Fair Value of Plan Assets

	Assets at Fair Value as of December 31, 2017
	Quoted prices	Significant other	Significant
	in active markets	observable inputs	unobservable inputs
(in thousands)	Level 1	Level 2	Level 3	Total

Common Stocks and equity funds	$335	$-	$-	$335
Debt securities	-	81,363	-	81,363
Insurance contracts	-	-	2,407	2,407
Cash and short-term investments	3,253	-	-	3,253
Total investments in the fair value hierarchy	$3,588	$81,363	$2,407	87,358

Investments at net asset value:
Common Stocks and equity funds				37,768
Fixed income funds				75,881
Limited partnerships				4,579
Hedge funds				-
Total plan assets				$205,586

	Assets at Fair Value as of December 31, 2016
	Quoted prices	Significant other	Significant
	in active markets	observable inputs	unobservable inputs
(in thousands)	Level 1	Level 2	Level 3	Total

Common Stocks and equity funds	$309	$-	$-	$309
Debt securities	-	74,449	-	74,449
Insurance contracts	-	-	2,238	2,238
Cash and short-term investments	3,401	-	-	3,401
Total investments in the fair value hierarchy	$3,710	$74,449	$2,238	80,397

Investments at net asset value:
Common Stocks and equity funds				35,510
Fixed income funds				59,662
Limited partnerships				5,065
Hedge funds				38
Total plan assets				$180,672

Reconciliation of Level 3 Assets

The following tables present a reconciliation of Level 3 assets held during the years ended December 31, 2017 and 2016:

(in thousands)	December 31, 2016	Net realized gains	Net unrealized gains	Net purchases, issuances and settlements	Net transfers (out of) Level 3	December 31, 2017
Insurance contracts	$2,238	$-	$56	$113	$-	$2,407
Total level 3 assets	$2,238	$-	$56	$113	$-	$2,407

(in thousands)	December 31, 2015	Net realized gains	Net unrealized gains	Net purchases, issuances and settlements	Net transfers (out of) Level 3	December 31, 2016
Insurance contracts	$2,403	$-	$26	$(191)	$-	$2,238
Total level 3 assets	$2,403	$-	$26	($191)	$-	$2,238

Schedule of Asset Allocation

The asset allocation for the Company’s U.S. and non-U.S. pension plans for 2016 and 2017, and the target allocation for 2018, by asset category, are as follows:

	United States Plan						Non-U.S. Plans
	Target		Percentage of plan assets				Target		Percentage of plan assets
	Allocation		at plan measurement date				Allocation		at plan measurement date
Asset category	2018		2017		2016		2018		2017		2016

Equity securities	-		1	%	2	%	32	%	30	%	33	%
Debt securities	100	%	95	%	92	%	64	%	64	%	61	%
Real estate	-		4	%	5	%	1	%	1	%	-
Other (1)	-		-		1	%	3	%	5	%	6	%
	100	%	100	%	100	%	100	%	100	%	100	%

Schedule of Pension Plans with Projected Benefit Obligation in Excess of Plan Assets and for Pension Plans with an Accumulated Benefit Obligation in Excess of Plan Assets

	Plans with projected benefit obligation in excess of plan assets
(in thousands)	2017	2016
Projected benefit obligation	$131,717	$121,600
Fair value of plan assets	90,149	83,622

	Plans with accumulated benefit obligation in excess of plan assets
(in thousands)	2017	2016
Accumulated benefit obligation	$129,698	$119,728
Fair value of plan assets	90,149	83,558

Schedule of Expected Cash Flows

Information about expected cash flows for the pension and other benefit obligations are as follows:


(in thousands)	Pension plans	Other postretirement benefits
Expected employer contributions and direct employer payments in the next fiscal year	$4,787	$4,108

Expected benefit payments
2018	$7,495	$4,108
2019	7,605	3,985
2020	8,104	3,872
2021	8,925	3,801
2022	9,207	3,749
2023-2027	55,897	17,890

Restructuring (Tables)

12 Months Ended

Dec. 31, 2017

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”:

	Total restructuring costs incurred	Termination and other costs	Impairment of assets	Benefit plan curtailment/ settlement
Year ended December 31, 2017 (in thousands)	Total restructuring costs incurred	Termination and other costs	Impairment of assets	Benefit plan curtailment/ settlement
Machine Clothing	$3,429	$2,945	$484	$-
Albany Engineered Composites	10,062	5,004	5,058	-
Corporate expenses	-	-	-	-
Total	$13,491	$7,949	$5,542	$-

	Total restructuring costs incurred		Termination and other costs		Impairment of assets	Benefit plan curtailment/ settlement
Year ended December 31, 2016 (in thousands)	Total restructuring costs incurred		Termination and other costs		Impairment of assets	Benefit plan curtailment/ settlement
Machine Clothing	$6,069		$5,756		$425	($112	)
Albany Engineered Composites	2,314		1,502		812	-
Corporate expenses	(7	)	(7	)	-	-
Total	$8,376		$7,251		$1,237	($112	)

Year ended December 31, 2015	Total restructuring costs incurred	Termination and other costs	Impairment of assets	Benefit plan curtailment/ settlement
(in thousands)	Total restructuring costs incurred	Termination and other costs	Impairment of assets	Benefit plan curtailment/ settlement
Machine Clothing	$22,211	$18,906	$3,305	$-
Albany Engineered Composites	-	-	-	-
Corporate expenses	1,635	1,635	-	-
Total	$23,846	$20,541	$3,305	$-

Schedule of Restructuring Liability

The table below presents the changes in restructuring liabilities for 2017 and 2016, all of which related to termination costs:

	December 31,	Restructuring		Currency	December 31,
(in thousands)	2016	charges accrued	Payments	translation/other	2017

Total termination and other costs	$5,559	$7,949	($10,351)	$169	$3,326

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

Total termination and other costs	$10,177	$7,251	($11,800)	($69)	$5,559

Other Expense/(Income), net (Tables)

12 Months Ended

Dec. 31, 2017

Other Income and Expenses [Abstract]

Other Expense/(Income), Net

The components of Other Expense/(Income), net, are:

(in thousands)	2017		2016		2015
Currency transactions	$4,634		($3,532	)	$1,496
Bank fees and amortization of debt issuance costs	487		759		916
Gain on insurance recovery	(2,000	)	-		-
Loss due to theft	-		2,506		-
Gain on sale of investment	-		-		(872	)
Other	1,231		313		893
Total	$4,352		$46		$2,433

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2017

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax (Benefit)/Expense

The following tables present components of income tax expense/(benefit) and income before income taxes on continuing operations:

(in thousands)	2017		2016		2015
Income tax based on income from continuing operations, at estimated tax rates of 32%, 35%, and 32%, respectively	$17,519		$27,629		$16,388
Income tax before discrete items	17,519		27,629		16,388

Discrete tax expense(benefit):
Worthless stock deduction	-		-		(28,553	)
Net impact of mandatory deemed repatriations	5,758		-		-
Provision for/resolution of tax audits and contingencies, net	1,329		(2,856	)	6,500
Adjustments to prior period tax liabilities	(840	)	586		(867	)
Provision for/adjustment to beginning of year valuation allowances	(3,522	)	(88	)	75
Enacted tax legislation	1,879		183		670
Total income tax expense/(benefit)	$22,123		$25,454		($5,787	)

Schedule of Income/(Loss) From Continuing Operations

(in thousands)	2017		2016		2015
Income/(loss) before income taxes:
U.S.	($5,865	)	$8,556		($7,211	)
Non-U.S.	60,573		69,710		58,689
	$54,708		$78,266		$51,478

Income tax provision:

Current:
Federal	$1,551		$3,728		$-
State	1,770		176		1,993
Non-U.S.	19,282		19,979		20,842
	$22,603		$23,883		$22,835

Deferred:
Federal	$1,881		$2,138		($34,135	)
State	(1,237	)	1,984		(40	)
Non-U.S.	(1,124	)	(2,551	)	5,553
	($480	)	$1,571		($28,622	)

Total income tax expense/(benefit)	$22,123		$25,454		($5,787	)

Schedule of significant components of deferred income tax expense/(benefit)

The significant components of deferred income tax expense/(benefit) are as follows:

(in thousands)	2017		2016		2015
Net effect of temporary differences	($5,774	)	$7,214		($7,615	)
Foreign tax credits	8,340		(6,869	)	(17,874	)
Retirement benefits	(502	)	1,734		1,844
Net impact to operating loss carryforwards	(900	)	(603	)	(5,722	)
Enacted changes in tax laws and rates	1,878		183		670
Adjustment to beginning-of-the-year valuation allowance balance for changes in circumstances	(3,522	)	(88	)	75
Total	($480	)	$1,571		($28,622	)

Reconciliation of the U.S. Federal Statutory Tax Rate to the Company's Effective Income Tax Rate

A reconciliation of the U.S. federal statutory tax rate to the Company’s effective income tax rate is as follows:

	2017		2016		2015
U.S. federal statutory tax rate	35.0	%	35.0	%	35.0	%
State taxes, net of federal benefit	1.0		2.3		2.4
Non-U.S. local income taxes	5.9		3.5		4.1
Foreign permanent adjustments	0.4		1.6		7.4
Foreign rate differential	(10.5	)	(11.3	)	(13.6	)
Net U.S. tax on non-U.S. earnings and foreign withholdings	11.9		5.8		(1.8	)
Provision for/resolution of tax audits and contingencies, net	2.4		(3.4	)	12.6
Research and development and other tax credits	(1.5	)	(1.2	)	(2.4	)
Adjustment to beginning-of-the-year valuation allowances	(6.4	)	(0.1	)	0.1
Worthless stock deduction	-		-		(55.5	)
Other	2.2		0.3		0.5
Effective income tax rate	40.4	%	32.5	%	(11.2	)%

Schedule of Deferred Tax Assets and Liabilities

Significant components of the Company’s deferred tax assets and liabilities are as follows:

	U.S.		Non-U.S.
(in thousands)	2017	2016	2017		2016

Noncurrent deferred tax assets:
Accounts receivable	$557	$1,155	$1,341		$1,381
Inventories	1,109	1,193	961		1,868
Deferred compensation	3,300	7,533	1,362		-
Depreciation and amortization	-	2,786	3,211		2,564
Postretirement benefits	18,286	26,602	1,464		2,067
Tax loss carryforwards	1,368	1,760	22,639		26,084
Tax credit carryforwards	41,920	50,624	1,654		1,186
Other	3,891	7,828	-		2,876
Noncurrent deferred tax assets
before valuation allowance	70,431	99,481	32,632		38,026

Less: valuation allowance	-	-	(16,057	)	(22,821	)
Total noncurrent deferred tax assets	70,431	99,481	16,575		15,205

Total deferred tax assets	$70,431	$99,481	$16,575		$15,205

Noncurrent deferred tax liabilities:
Unrepatriated foreign earnings	$914	$1,602	$-		$-
Depreciation and amortization	20,170	43,156	-		-
Deferred gain	4,169	7,156	-		-
Other	81	2,198	2,597		2,897
Total deferred tax liabilities	$25,334	$54,112	$2,597		$2,897

Net deferred tax asset	$45,097	$45,369	$13,978		$12,308

Reconciliation of the Beginning and Ending Amount of Unrecognized Tax Benefits

The following table provides a reconciliation of the beginning and ending amount of unrecognized tax benefits, all of which, if recognized, would impact the effective tax rate:

(in thousands)	2017		2016		2015
Unrecognized tax benefits balance at January 1	$4,183		$19,606		$19,509
Increase in gross amounts of tax positions related to prior years	480		62		2,315
Decrease in gross amounts of tax positions related to prior years	(50	)	(2,129	)	(145	)
Increase in gross amounts of tax positions related to current years	-		585		79
Decrease due to settlements with tax authorities	(381	)	(14,029	)	(42	)
Decrease due to lapse in statute of limitations	(29	)	(163	)	(90	)
Currency translation	306		251		(2,020	)
Unrecognized tax benefits balance at December 31	$4,509		$4,183		$19,606

Schedule of Current Income Taxes Prepaid and Deferred

As of December 31, 2017 and 2016, current income taxes prepaid and receivable consisted of the following:

(in thousands)	2017	2016
Prepaid taxes	$4,872	$3,914
Taxes receivable	1,394	1,299
Total current income taxes prepaid and receivable	$6,266	$5,213

Schedule of Non-Current Income Taxes Receivable and Deferred

As of December 31, 2017 and 2016, noncurrent deferred tax liabilities and other credits consisted of the following:

(in thousands)	2017	2016
Deferred income taxes	$9,573	$11,188
Other liabilities	1,418	1,201
Total noncurrent deferred taxes and other liabilities	$10,991	$12,389

Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2017

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:

(in thousands, except market price and earnings per share)	2017	2016	2015

Net income attributable to the Company	$33,111	$52,733	$57,279

Weighted average number of shares:

Weighted average number of shares used in
calculating basic net income per share	32,169	32,086	31,978

Effect of dilutive stock-based compensation plans:

Stock options	30	39	58

Long-term incentive plan	45	45	52

Weighted average number of shares used in
calculating diluted net income per share	32,244	32,170	32,088

Average market price of common stock used
for calculation of dilutive shares	$52.19	$40.25	$36.68

Net income per share:

Basic	$1.03	$1.64	$1.79

Diluted	$1.03	$1.64	$1.79

Accumulated Other Comprehensive Income (Tables)

12 Months Ended

Dec. 31, 2017

Accumulated items of other comprehensive income:

Schedule of Accumulated Other Comprehensive Income

The table below presents changes in the components of AOCI from January 1, 2015 to December 31, 2017:

(in thousands)	Translation adjustments		Pension and postretirement liability adjustments		Derivative valuation adjustment		Total Other Comprehensive Income
January 1, 2015	($55,240	)	($51,666	)	($861	)	($107,767	)
Other comprehensive income/(loss) before reclassifications	(53,415	)	2,238		(1,836	)	(53,013	)
Pension/postretirement settlements and curtailments			103				103
Pension/postretirement plan remeasurement			(622	)			(622	)
Interest expense related to swaps reclassified to the Statements of Income, net of tax					1,233		1,233
Pension and postretirement liability adjustments reclassified to Statements of Income, net of tax			1,222				1,222
Net current period other comprehensive income	(53,415	)	2,941		(603	)	(51,077	)
December 31, 2015	(108,655	)	(48,725	)	(1,464	)	(158,844	)
Other comprehensive income/(loss) before reclassifications	(24,643	)	676		804		(23,163	)
Pension/postretirement settlements and curtailments			45				45
Pension/postretirement plan remeasurement			(4,394	)			(4,394	)
Interest expense related to swaps reclassified to the Statements of Income, net of tax					1,488		1,488
Pension and postretirement liability adjustments reclassified to Statements of Income, net of tax			679				679
Net current period other comprehensive income	(24,643	)	(2,994	)	2,292		(25,345	)
December 31, 2016	(133,298	)	(51,719	)	828		(184,189	)
Other comprehensive income/(loss) before reclassifications	45,980		(1,818	)	201		44,363
Pension/postretirement plan remeasurement			2,037				2,037
Interest expense related to swaps reclassified to the Statements of Income, net of tax					924		924
Pension and postretirement liability adjustments reclassified to Statements of Income, net of tax			964				964
Net current period other comprehensive income	45,980		1,183		1,125		48,288
December 31, 2017	($87,318	)	($50,536	)	$1,953		($135,901	)

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 Statement of Income that were affected for the periods ended December 31, 2017, 2016 and 2015.

(in thousands)	2017		2016		2015
Pretax Derivative valuation reclassified from Accumulated Other Comprehensive Income:
Expense related to interest rate swaps included in Income before taxes (a)	$1,490		$2,400		$1,988
Income tax effect	(566	)	(912	)	(755	)
Effect on net income due to items reclassified from Accumulated Other Comprehensive Income	$924		$1,488		$1,233

Pretax pension and postretirement liabilities reclassified from Accumulated Other Comprehensive Income:
Pension/postretirement settlements and curtailments	$-		$51		$103
Amortization of prior service credit	(4,453	)	(4,450	)	(4,440	)
Amortization of net actuarial loss	5,439		5,102		5,932
Total pretax amount reclassified (b)	986		703		1,595

Income tax effect	(22	)	21		(270	)
Effect on net income due to items reclassified from Accumulated Other Comprehensive Income	$964		$724		$1,325

(a) Included in Interest expense are payments related to the interest rate swap agreements and amortization of swap buyouts (see Note 15).

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

Noncontrolling Interest (Tables)

12 Months Ended

Dec. 31, 2017

Noncontrolling Interest [Abstract]

Schedule of Income Attributable to Noncontrolling Interest and Noncontrolling Equity

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

(in thousands, except percentages)	2017		2016
Net (loss)/income of ASC	$(4,224	)	$1,777
Less: Return attributable to the Company’s preferred holding	1,032		987
Net (loss)/income of ASC available for common ownership	($5,256	)	$790
Ownership percentage of noncontrolling shareholder	10%		10%
Net (loss)/income attributable to noncontrolling interest	($526	)	$79

Noncontrolling interest, beginning of year	$3,767		$3,690
Net (loss)/income attributable to noncontrolling interest	(526	)	79
Changes in other comprehensive income attributable to noncontrolling interest	6		(2	)
Noncontrolling interest, end of year	$3,247		$3,767

Property, Plant and Equipment (Tables)

12 Months Ended

Dec. 31, 2017

Property, Plant and Equipment [Abstract]

Schedule of Property, Plant, and Equipment

The table below sets forth the reclassification and components of property, plant and equipment as of December 31, 2017 and 2016:

(in thousands)	2017		2016		Estimated useful life

Land and land improvements	$14,853		$13,339		25 years for improvements

Buildings	230,987		214,086		25 to 40 years

Building under capital lease	8,140		8,140		7 years

Machinery and equipment	950,519		842,921		5 to 15 years

Furniture and fixtures	8,861		7,632		5 years

Computer and other equipment	15,610		15,264		3 to 10 years

Software	57,847		54,212		5 to 8 years

Capital expenditures in progress	63,951		66,900

Property, plant and equipment, gross	1,350,768		1,222,494

Accumulated depreciation and amortization	(896,466	)	(799,930	)

Property, plant and equipment, net	$454,302		$422,564

Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2017

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 December 31, 2017, were as follows:

(in thousands, except for years)	Amortization life in years	Balance at December 31, 2016	Amortization		Other Changes		Currency Translation	Balance at December 31, 2017
Amortized intangible assets:
AEC trade names	15	$20	($5	)	$-		$-	$15
AEC technology	15	104	(24	)	-		-	80
AEC customer contracts	6	17,859	(3,280	)	(961	)	-	13,618
AEC customer relationships	15	47,009	(3,280	)	(2,211	)	-	41,518
AEC other intangibles	5	1,462	(275	)	(977	)	-	210
Total amortized intangible assets		$66,454	($6,864	)	($4,149	)	$-	$55,441

Unamortized intangible assets:
MC Goodwill		$64,645	$-		$-		$6,421	$71,066
AEC Goodwill		95,730	-		-		-	95,730
Total amortized intangible assets		$160,375	$-		$-		$6,421	$166,796

(in thousands, except for years)	Amortization life in years	Balance at December 31, 2015	Acquisition	Amortization		Currency Translation		Balance at December 31, 2016
Amortized intangible assets:
AEC trade names	15	$25	$-	($5	)	$-		$20
AEC technology	15	129	-	(25	)	-		104
AEC customer contracts	6	-	20,420	(2,561	)	-		17,859
AEC customer relationships	15	-	49,490	(2,481	)	-		47,009
AEC other intangibles	5	-	1,720	(258	)	-		1,462
Total amortized intangible assets		$154	$71,630	($5,330	)	$-		$66,454

Unamortized intangible assets:
MC Goodwill		$66,373	$-	$-		($1,728	)	$64,645
AEC Goodwill		-	95,730	-		-		95,730
Total amortized intangible assets		$66,373	$95,730	$-		($1,728	)	$160,375

Schedule of Estimated Amortization Expense

Estimated amortization expense of intangibles for the years ending December 31, 2018 through 2022, is as follows:

			Annual amortization
Year			(in thousands)
2018			$6,232
2019			6,232
2020			6,232
2021			6,161
2022			3,955

Accrued Liabilities (Tables)

12 Months Ended

Dec. 31, 2017

Payables and Accruals [Abstract]

Schedule of Accrued Liabilities

Accrued liabilities consist of:

(in thousands)	2017	2016
Salaries and wages	$17,916	$18,520
Accrual for compensated absences	11,223	10,181
Employee benefits	13,553	13,277
Workers’ compensation	2,397	2,053
Pension liability - current portion	2,094	2,057
Postretirement medical benefits - current portion	4,108	4,195
Returns and allowances	11,370	13,714
Billings in excess of revenue recognized	2,569	2,334
Contract loss reserve	11,902	56
Professional fees	2,310	3,068
Utilities	910	991
Dividends	5,474	5,458
Restructuring costs	2,714	4,668
Interest	817	1,218
Other	16,557	13,405
Total	$105,914	$95,195

Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2017

Long-term Debt and Capital Lease Obligations [Abstract]

Schedule of Long-Term Debt

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

(in thousands, except interest rates)	2017		2016

Revolving credit agreements with borrowings outstanding at an end of period interest rate of 3.40% in 2017 and 2.58% in 2016 (including the effect of interest rate hedging transactions, as described below), due in 2022	$501,000		$418,000

Private placement with a fixed interest rate of 6.84%, final payment was made October 25, 2017	-		50,000

Obligation under capital lease, matures 2022	14,919		16,584

Long-term debt	515,919		484,584

Less: current portion	(1,799	)	(51,666	)

Long-term debt, net of current portion	$514,120		$432,918

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 December 31, 2017.

Years ending December 31,	(in thousands)
2018	$2,473
2019	2,473
2020	2,520
2021	2,520
2022	7,373
Total minimum lease payments	17,359
Less: Amount representing interest	(2,440	)
Present value of minimum lease payments	$14,919

- 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
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-Name Accounting Standards Codification
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-SubTopic 10
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+ Details

Fair-Value Measurements (Tables)

12 Months Ended

Dec. 31, 2017

Fair Value Disclosures [Abstract]

Schedule of Fair Value of Financial Assets and Liabilities

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:

	December 31, 2017				December 31, 2016
	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	$13,601	$-		$-	$8,468	$-		$-
Other Assets:
Common stock of foreign public company^(a)	999	-		-	762	-		-
Interest rate swaps	-	313	^(b)	-	-	5,784	^(c)	-
Liabilities:
Other noncurrent liabilities:
Interest rate swaps	-	-		-	-	-		-

(a)

Original cost basis $0.5 million.

(b)

Net of $34.9 million receivable floating leg and $34.6 million liability fixed leg

(c)

Net of $21.4 million receivable floating leg and $15.6 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 expense/(income), net in the Consolidated Statements of Income were as follows:

	Years ended December 31,
(in thousands)	2017	2016	2015

Derivatives not designated as hedging instruments Foreign currency options	($131)	$202	($121)

- 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

Other Noncurrent Liabilities (Tables)

12 Months Ended

Dec. 31, 2017

Other Liabilities Disclosure [Abstract]

Schedule of Other Noncurrent Liabilities

As of December 31 of each year, Other noncurrent liabilities consists of:

(in thousands)	2017	2016

Pension liabilities	$39,473	$35,921
Postretirement benefits other than pensions	54,423	53,293
Obligations under license agreement	897	10,254
Incentive and deferred compensation	3,048	3,468
Restructuring	600	908
Other	3,114	2,983
Total	$101,555	$106,827

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2017

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
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
2016	3,791	148	102	3,745	758
2017	3,745	105	90	3,730	$55

- 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
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-SubTopic 20
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-Paragraph 6
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+ Details

Stock Options and Incentive Plans (Tables)

12 Months Ended

Dec. 31, 2017

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of Stock Option Activity

Activity with respect to these plans is as follows:

	2017	2016	2015
Shares under option January 1	62,390	88,773	187,233
Options canceled	150	-	-
Options exercised	32,900	26,383	98,460
Shares under option at December 31	29,340	62,390	88,773
Options exercisable at December 31	29,340	62,390	88,773

The weighted average exercise price is as follows:

	2017	2016	2015
Shares under option January 1	$18.28	$18.67	$18.99
Options canceled	20.63	-	-
Options exercised	18.16	19.60	19.27
Shares under option December 31	18.40	18.28	18.67
Options exercisable December 31	18.40	18.28	18.67

Schedule of Executive Management Share-based Compensation Activity


	Number of shares		Weighted average grant date value per share	Year-end intrinsic value (000’s)
Shares potentially payable at January 1, 2015	185,199		$30.69	$5,683
Forfeitures	-		-
Payments	(95,889	)	$29.09
Shares accrued based on 2015 performance	98,998		$38.01
Shares potentially payable at December 31, 2015	188,308		$35.35	$6,657
Forfeitures	-		-
Payments	(86,926	)	$33.43
Shares accrued based on 2016 performance	88,036		$36.78
Shares potentially payable at December 31, 2016	189,418		$36.90	$6,989
Forfeitures	-		-
Payments	(75,545	)	$36.35
Shares accrued based on 2017 performance	43,532		$48.26
Shares potentially payable at December 31, 2017	157,405		$40.30	$6,343

Schedule of Other Management Share-based Compensation Activity

	Number of shares		Weighted average grant date value per share	Cash paid for share based liabilities (000’s)
Share units potentially payable at January 1, 2015	347,941
Grants	90,065
Changes due to performance	13,966
Payments	(167,482	)	$36.08	$6,040
Forfeitures	(31,624	)
Share units potentially payable at December 31, 2015	252,866
Grants	118,279
Changes due to performance	18,779
Payments	(88,073	)	$33.20	$2,924
Forfeitures	(40,706	)
Share units potentially payable at December 31, 2016	261,145
Grants	96,505
Changes due to performance	(11,891	)
Payments	(89,190	)	$46.64	$4,160
Forfeitures	(20,473	)
Share units potentially payable at December 31, 2017	236,096

Shareholders' Equity (Tables)

12 Months Ended

Dec. 31, 2017

Stockholders' Equity Note [Abstract]

Schedule of Activity in Shareholders' Equity

Activity in Shareholders’ equity for 2015, 2016, and 2017 is presented below:


							Accumulated
	Class A		Class B		Additional		items of other	Class A
	Common Stock		Common Stock		paid-in	Retained	comprehensive	Treasury Stock		Noncontrolling
(in thousands)	Shares	Amount	Shares	Amount	capital	earnings	income	Shares	Amount	Interest
January 1, 2015	37,085	$37	3,235	$3	$418,972	$456,105	($107,767)	8,459	($257,481)	$3,699
Net income	-	-	-	-	-	57,279	-	-	-	(14)
Compensation and benefits paid or payable in shares	55	-	-	-	1,540	-	-	-	-	-
Options exercised	99	-	-	-	2,520	-	-	-	-	-
Shares issued to Directors’	-	-	-	-	76	-	-	(4)	90	-
Dividends declared	-	-	-	-	-	(21,434)		-	-	-

Cumulative translation adjustments	-	-	-	-	-	-	(53,415)	-	-	5
Pension and postretirement liability adjustments	-	-	-	-	-	-	2,941	-	-	-
Derivative valuation adjustment	-	-	-	-	-	-	(603)	-	-	-
December 31, 2015	37,239	$37	3,235	$3	$423,108	$491,950	($158,844)	8,455	($257,391)	$3,690
Net income	-	-	-	-	-	52,733	-	-	-	79
Compensation and benefits paid or payable in shares	53	-	-	-	1,980	-	-	-	-	-
Options exercised	26	-	-	-	667	-	-	-	-	-
Shares issued to Directors’	1	-	(1)	-	198	-	-	(12)	255	-
Dividends declared	-	-	-	-	-	(21,828)	-	-	-	-

Cumulative translation adjustments	-	-	-	-	-	-	(24,643)	-	-	(2)
Pension and postretirement liability adjustments	-	-	-	-	-	-	(2,994)	-	-	-
Derivative valuation adjustment	-	-	-	-	-	-	2,292	-	-	-
December 31, 2016	37,319	$37	3,234	$3	$425,953	$522,855	($184,189)	8,443	($257,136)	$3,767
Net income	-	-	-	-	-	33,111	-	-	-	(526)
Compensation and benefits paid or payable in shares	44	-	-	-	1,564	-	-	-	-	-
Options exercised	33	-	-	-	597	-	-	-	-	-
Shares issued to Directors’	-	-	-	-	309	-	-	(12)	260	-
Dividends declared	-	-	-	-	-	(21,884)	-	-	-	-

Cumulative translation adjustments	-	-	-	-	-	-	45,980	-	-	6
Pension and postretirement liability adjustments	-	-	-	-	-	-	1,183	-	-	-
Derivative valuation adjustment	-	-	-	-	-	-	1,125	-	-	-
December 31, 2017	37,396	$37	3,234	$3	$428,423	$534,082	($135,901)	8,431	($256,876)	$3,247

Quarterly Financial Data (Tables)

12 Months Ended

Dec. 31, 2017

Quarterly Financial Data [Abstract]

Schedule of Quarterly Data

The following table presents certain unaudited quarterly consolidated statement of operations data from continuing operations for each of the quarters in the periods ended December 31, 2017, 2016, and 2015. The information has been derived from our unaudited financial statements, which have been prepared on substantially the same basis as the audited consolidated financial statements contained in this report. We have presented quarterly earnings per share numbers as reported in our earnings releases. The sum of these quarterly results may differ from annual results due to rounding and the impact of the difference in the weighted shares outstanding for the stand-alone periods. The results of operations for any quarter are not necessarily indicative of the results to be expected for any future period.

(in millions, except per share amounts)
2017	1st	2nd	3rd	4th	Total
Net sales	$199.3	$215.6	$222.1	$226.7	$863.7
Gross profit	75.9	63.1	79.4	77.4	295.8
Net income attributable to the Company	10.8	1.1	15.3	5.9	33.1
Basic earnings per share	0.34	0.03	0.47	0.19	1.03
Diluted earnings per share	0.34	0.03	0.47	0.19	1.03
Cash dividends per share	0.17	0.17	0.17	0.17	0.68
Class A Common Stock prices:
High	49.05	53.40	57.60	65.25
Low	43.90	43.90	50.25	56.45

2016	1st	2nd	3rd	4th	Total
Net sales	$172.3	$203.2	$191.3	$213.0	$779.8
Gross profit	72.5	78.3	72.4	77.4	300.6
Net income attributable to the Company	13.5	10.4	13.1	15.8	52.8
Basic earnings per share	0.42	0.32	0.41	0.49	1.64
Diluted earnings per share	0.42	0.32	0.41	0.49	1.64
Cash dividends per share	0.17	0.17	0.17	0.17	0.68
Class A Common Stock prices:
High	38.21	41.31	43.78	49.25
Low	31.43	37.27	38.92	38.65

2015	1st	2nd	3rd	4th	Total
Net sales	$181.3	$172.3	$178.8	$177.5	$709.9
Gross profit	76.7	54.6	75.7	71.7	278.7
Net income/(loss) attributable to the Company	12.2	(2.2)	9.7	37.6	57.3
Basic earnings per share	0.38	(0.07)	0.30	1.18	1.79
Diluted earnings per share	0.38	(0.07)	0.30	1.18	1.79
Cash dividends per share	0.16	0.17	0.17	0.17	0.67
Class A Common Stock prices:
High	40.31	41.15	40.21	39.25
Low	34.13	39.15	28.28	28.19

Accounting Policies (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended												12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Research expense													$ 30,700	$ 28,800	$ 31,700
Capitalized salaries, travel, and consulting costs related to software development													1,200	1,200
Defined benefit pension plan assets	$ 16,200				$ 7,800								16,200	7,800
Gross profit	$ 77,400	$ 79,400	$ 63,100	$ 75,900	77,400	$ 72,400	$ 78,300	$ 72,500	$ 71,700	$ 75,700	$ 54,600	$ 76,700	295,780	300,568	278,686
Recorded Charge on BR contract			15,800												14,000
Inventory write off			4,000
Reduction to Cost of goods sold													$ 4,900
Write-off deferred contract costs															10,900
Reserve for additional anticipated losses			$ 11,800												3,100
Interest rate on contract receivables	2.00%												2.00%
Extended payment term of receivables													<p style="margin: 0">over a 10 year period starting in 2020</p>
Percentage of estimate revenue of services													5.00%
Increase/(Decrease) in operating cash flows due to change affecting cash payments of taxes in lieu of share issuance													$ 1,300	1,400
Increase/(Decrease) in financing cash flows due to change affecting cash payments of taxes in lieu of share issuance													(1,300)	(1,400)
Increase/(Decrease) in operating cash flows due to change affecting classification of excess tax benefits													100	100
Increase/(Decrease) in financing cash flows due to change affecting classification of excess tax benefits													(100)	(100)
Contracts Accounted for under Percentage of Completion [Member]
Gross profit													(600)	1,500	$ 400
Financial Assets [Member]
Defined benefit pension plan assets	$ 1,300				6,500								1,300	6,500
Russia Entity [Member]
Equity method investment	$ 500				$ 400								$ 500	$ 400

Accounting Policies (Schedule of Foreign Currency Transaction Gains and Losses) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Accounting Policies [Abstract]
Selling, general, and administrative expense	$ 4,127	$ (381)	$ (5,090)
Other (income)/expense, net	4,634	(3,532)	1,496
Total transaction (gains)/losses	8,761	(3,913)	(3,594)
Gain/(loss) on long-term intercompany loans	$ 1,867	$ 3,515	$ (5,225)

Accounting Policies (Schedule of Accounts Receivable) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Accounting Policies [Abstract]
Trade and other accounts receivable	$ 152,375	$ 146,460
Bank promissory notes	20,255	15,759
Revenue in excess of progress billings	37,964	15,926
Allowance for doubtful accounts	(7,919)	(6,952)
Total accounts receivable	$ 202,675	$ 171,193

Accounting Policies (Schedule of Inventories) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Accounting Policies [Abstract]
Raw materials	$ 42,215	$ 37,691
Work in process	65,448	58,715
Finished goods	28,856	37,500
Total inventories	$ 136,519	$ 133,906

Business Acquisition (Narrative) (Details) - USD ($) $ in Thousands		12 Months Ended
	Apr. 08, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Nov. 07, 2017
Business Acquisition [Line Items]
Cash consideration for acquisition			$ 187,000
Goodwill		$ 166,796	$ 160,375	$ 66,373
Harris Corporation's Composite Aerostructures Division [Member]
Business Acquisition [Line Items]
Cash consideration for acquisition	$ 187,000
Goodwill	95,700
Credit Agreement [Member]
Business Acquisition [Line Items]
Proceeds from unsecured credit facility agreement	$ 550,000				$ 685,000

Business Acquisition (Summary of the provisional allocation of the purchase price of AAC) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Apr. 08, 2016	Dec. 31, 2015
Assets acquired
Goodwill	$ 166,796	$ 160,375		$ 66,373
Albany Aerostructures Composites LLC (AAC) [Member]
Assets acquired
Accounts receivable			$ 15,443
Inventories			16,670
Prepaid expenses and other current assets			402
Property, plant and equipment			62,784
Intangibles			71,630
Goodwill			95,730
Total assets acquired			262,659
Liabilities assumed
Accounts payable			10,323
Accrued liabilities			2,862
Capital lease obligation			17,560
Deferred income taxes			33,143
Other noncurrent liabilities			11,771
Total liabilities assumed			75,659
Net assets acquired			$ 187,000

Business Acquisition (Summary of operational results of AAC) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended												9 Months Ended	12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Business Acquisition [Line Items]
Net sales	$ 226,700	$ 222,100	$ 215,600	$ 199,300	$ 213,000	$ 191,300	$ 203,200	$ 172,300	$ 177,500	$ 178,800	$ 172,300	$ 181,300		$ 863,717	$ 779,839	$ 709,868
Operating loss														76,151	91,776	63,895
Loss before income taxes														54,708	78,266	51,478
Net loss attributable to the Company	$ 5,900	$ 15,300	$ 1,100	$ 10,800	$ 15,800	$ 13,100	$ 10,400	$ 13,500	$ 37,600	$ 9,700	$ (2,200)	$ 12,200		$ 33,111	$ 52,733	$ 57,279
Loss per share:
Basic	$ 0.19	$ 0.47	$ 0.03	$ 0.34	$ 0.49	$ 0.41	$ 0.32	$ 0.42	$ 1.18	$ 0.30	$ (0.07)	$ 0.38		$ 1.03	$ 1.64	$ 1.79
Diluted	$ 0.19	$ 0.47	$ 0.03	$ 0.34	$ 0.49	$ 0.41	$ 0.32	$ 0.42	$ 1.18	$ 0.30	$ (0.07)	$ 0.38		$ 1.03	$ 1.64	$ 1.79
Albany Aerostructures Composites LLC (AAC) [Member]
Business Acquisition [Line Items]
Net sales													$ 67,011
Operating loss													(1,246)
Loss before income taxes													(2,342)
Net loss attributable to the Company													$ (1,495)
Loss per share:
Basic													$ (0.05)
Diluted													$ (0.05)

Business Acquisition (Summary of pro-forma information of AAC) (Details) - Albany Aerostructures Composites LLC (AAC) [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Business Combinations [Abstract]
Combined Net sales	$ 802,023	$ 786,623
Combined Income before income taxes	80,639	52,542
Pro forma increase/(decrease) to income before income taxes:
Acquisition expenses	5,367
Interest expense related to purchase price	(1,382)	(5,133)
Acquisition accounting adjustments:
Depreciation and amortization on property, plant and equipment, and intangible assets	(1,575)	(7,875)
Valuation of contract inventories	1,997	6,908
Interest expense on capital lease obligation	300	1,096
Interest expense on other obligations	(133)	(533)
Pro forma Income before income taxes	85,213	47,005
Pro forma Net Income attributable to the Company	$ 57,229	$ 54,245

Reportable Segments and Geographic Data (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Albany Aerostructures Composites LLC (AAC) [Member]
Segment Reporting Information [Line Items]
Invoiced receivables, unbilled receivables and contract receivables	$ 58,600	$ 37,100
Acquisition expense		$ 5,400
Albany Safran Composites, LLC [Member]
Segment Reporting Information [Line Items]
Ownership percentage of noncontrolling shareholder	10.00%	10.00%
Safran [Member]
Segment Reporting Information [Line Items]
Net sale	$ 119,200	$ 88,900	$ 58,100

Reportable Segments and Geographic Data (Schedule of Financial Data by Reporting Segment) (Details) - USD ($) $ in Thousands	3 Months Ended												12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Segment Reporting Information [Line Items]
Net sales	$ 226,700	$ 222,100	$ 215,600	$ 199,300	$ 213,000	$ 191,300	$ 203,200	$ 172,300	$ 177,500	$ 178,800	$ 172,300	$ 181,300	$ 863,717	$ 779,839	$ 709,868
Depreciation and amortization													71,956	67,461	60,114
Operating income (loss)													76,151	91,776	63,895
Interest income													(1,511)	(2,077)	(1,857)
Interest expense													18,602	15,541	11,841
Other expense/ (income), net													4,352	46	2,433
Income before income taxes													54,708	78,266	51,478
Machine Clothing [Member]
Segment Reporting Information [Line Items]
Net sales													590,357	582,190	608,581
Depreciation and amortization													33,527	36,428	39,503
Operating income (loss)													153,936	152,529	141,311
Albany Engineered Composites [Member]
Segment Reporting Information [Line Items]
Net sales													273,360	197,649	101,287
Depreciation and amortization													33,533	24,211	12,140
Operating income (loss)													(31,657)	(15,363)	(28,478)
Corporate Expenses [Member]
Segment Reporting Information [Line Items]
Depreciation and amortization													4,896	6,822	8,471
Operating income (loss)													(46,128)	(45,390)	(48,938)
Significant Reconciling Items [Member]
Segment Reporting Information [Line Items]
Interest income													(1,511)	(2,077)	(1,857)
Interest expense													18,602	15,541	11,841
Other expense/ (income), net													$ 4,352	$ 46	$ 2,433

Reportable Segments and Geographic Data (Schedule of Restructuring Costs by Reporting Segment) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Restructuring expenses, net
Charges/ (reversals)	$ 13,491	$ 8,376	$ 23,846
Machine Clothing [Member]
Restructuring expenses, net
Charges/ (reversals)	3,429	6,069	22,211
Albany Engineered Composites [Member]
Restructuring expenses, net
Charges/ (reversals)	10,062	2,314
Corporate Expenses [Member]
Restructuring expenses, net
Charges/ (reversals)		$ (7)	$ 1,635

Reportable Segments and Geographic Data (Schedule of Operating Assets and Capital Expenditures by Reporting Segment) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	$ 1,361,198	$ 1,263,433	$ 1,009,562
Capital expenditures and purchased software	87,637	73,492	50,595
Cash	183,727	181,742	185,113	$ 179,802
Asset held for sale			4,988
Machine Clothing [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	464,468	454,010	494,347
Capital expenditures and purchased software	20,522	15,651	16,010
Albany Engineered Composites [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	584,076	514,527	181,825
Capital expenditures and purchased software	63,865	54,678	30,378
Corporate Expenses [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Capital expenditures and purchased software	3,250	3,163	4,207
Significant Reconciling Items [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Cash	183,727	181,742	185,113
Asset held for sale			4,988
Income taxes prepaid, receivable and deferred	74,914	74,078	111,872
Other assets	$ 54,013	$ 39,076	$ 31,417

Reportable Segments and Geographic Data (Schedule of Financial Data by Geographic Area) (Details) - USD ($) $ in Thousands	3 Months Ended												12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 226,700	$ 222,100	$ 215,600	$ 199,300	$ 213,000	$ 191,300	$ 203,200	$ 172,300	$ 177,500	$ 178,800	$ 172,300	$ 181,300	$ 863,717	$ 779,839	$ 709,868
Property, plant and equipment, net	454,302				422,564				357,470				454,302	422,564	357,470
United States [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales													459,525	396,238	323,399
Property, plant and equipment, net	252,639				245,626				172,372				252,639	245,626	172,372
Switzerland [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales													147,601	145,479	159,804
Brazil [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales													60,535	60,287	58,846
China [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales													48,920	48,043	48,490
Property, plant and equipment, net	61,840				65,987				80,786				61,840	65,987	80,786
France [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales													57,195	42,862	26,081
Property, plant and equipment, net	58,196				42,272				28,539				58,196	42,272	28,539
Mexico [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales													31,902	27,526	30,581
Property, plant and equipment, net	22,981				7,781				5,264				22,981	7,781	5,264
Other Countries [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales													58,039	59,404	62,667
Property, plant and equipment, net	19,602				19,267				19,524				19,602	19,267	19,524
Korea [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	14,558				15,585				19,095				14,558	15,585	19,095
United Kingdom [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	14,256				14,591				19,029				14,256	14,591	19,029
Canada [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	$ 10,230				$ 11,455				$ 12,861				$ 10,230	$ 11,455	$ 12,861

Pensions and Other Postretirement Benefit Plans (Narrative) (Details) $ in Millions	Dec. 31, 2017 USD ($)
United States [Member]
Defined Benefit Plan Disclosure [Line Items]
Accrued postretirement liability	$ 57.4
Percent of consolidated pension plan assets	42.00%
Percent of consolidated pension plan obligations	43.00%
Canada [Member]
Defined Benefit Plan Disclosure [Line Items]
Accrued postretirement liability	$ 1.1

Pensions and Other Postretirement Benefit Plans (Schedule of Plan Benefit Obligations) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
United States [Member]
Weighted average assumptions used to determine benefit obligations, end of year:
Discount rate	3.70%	4.20%
Compensation increase
Non-U.S. Pension Plans [Member]
Weighted average assumptions used to determine benefit obligations, end of year:
Discount rate	2.83%	2.98%
Compensation increase	3.02%	3.29%
United States Postretirement Benefits Plan [Member]
Weighted average assumptions used to determine benefit obligations, end of year:
Discount rate	3.59%	4.00%
Compensation increase
Non-U.S. Postretirement Benefits Plan [Member]
Weighted average assumptions used to determine benefit obligations, end of year:
Discount rate	3.40%	3.70%
Compensation increase	3.00%	3.00%
Pension Plans [Member]
Change in benefit obligation:
Benefit obligation, beginning of year	$ 210,856	$ 199,856
Service cost	2,720	2,656	$ 2,959
Interest cost	7,476	7,885	7,787
Plan participants' contributions	211	249
Actuarial (gain)/loss	6,626	17,676
Benefits paid	(7,697)	(7,057)
Settlements and curtailments	(8)	(2,436)
Plan amendments and other	(3)	36
Foreign currency changes	10,730	(8,009)
Benefit obligation, end of year	230,911	210,856	199,856
Accumulated benefit obligation	220,622	200,790
Other postretirement benefits [Member]
Change in benefit obligation:
Benefit obligation, beginning of year	57,488	59,970
Service cost	244	254	330
Interest cost	2,214	2,443	2,437
Plan participants' contributions		72
Actuarial (gain)/loss	2,743	(395)
Benefits paid	(4,230)	(4,884)
Settlements and curtailments
Plan amendments and other
Foreign currency changes		28
Benefit obligation, end of year	58,531	57,488	$ 59,970
Accumulated benefit obligation

Pensions and Other Postretirement Benefit Plans (Schedule of Plan Assets) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, beginning of year	$ 180,672	$ 171,387
Actual return on plan assets, net of expenses	19,182	19,740
Employer contributions	4,645	6,605
Plan participants' contributions	211	249
Benefits paid	(7,697)	(7,057)
Settlements	(8)	(2,308)
Foreign currency changes	8,581	(7,944)
Fair value of plan assets, end of year	205,586	180,672
Other postretirement benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, beginning of year
Actual return on plan assets, net of expenses
Employer contributions	4,230	4,812
Plan participants' contributions		72
Benefits paid	(4,230)	(4,884)
Settlements
Foreign currency changes
Fair value of plan assets, end of year

Pensions and Other Postretirement Benefit Plans (Schedule of Funded Status of Plans and Composition of Accrued Pension Cost) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Defined Benefit Plan Disclosure [Line Items]
Noncurrent asset	$ 16,200	$ 7,800
U.S. Pension Plans with Pension Assets [Member]
Defined Benefit Plan Disclosure [Line Items]
Net amount recognized	(6,466)
U.S. Pension Plans without Pension Assets [Member]
Defined Benefit Plan Disclosure [Line Items]
Net amount recognized	(7,356)
United States [Member]
Defined Benefit Plan Disclosure [Line Items]
Net amount recognized	(13,822)
Non-U.S. Pension Plans with Pension Assets [Member]
Defined Benefit Plan Disclosure [Line Items]
Net amount recognized	13,870
Non-U.S. Pension Plans without Pension Assets [Member]
Defined Benefit Plan Disclosure [Line Items]
Net amount recognized	(25,373)
Non-U.S. Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Net amount recognized	(11,503)
Pension Plans with Pension Assets [Member]
Defined Benefit Plan Disclosure [Line Items]
Net amount recognized	7,404
Pension Plans without Pension Assets [Member]
Defined Benefit Plan Disclosure [Line Items]
Net amount recognized	(32,729)
Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	205,586	180,672	$ 171,387
Benefit obligation	230,911	210,856	199,856
Funded status	(25,325)	(30,184)
Noncurrent asset	16,242	7,794
Current liability	(2,094)	(2,057)
Noncurrent liability	(39,473)	(35,921)
Net amount recognized	(25,325)	(30,184)
Net actuarial loss	67,283	72,400
Prior service cost/(credit)	572	597
Net amount recognized	67,855	72,997
Other postretirement benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets
Benefit obligation	58,531	57,488	$ 59,970
Funded status	(58,531)	(57,488)
Noncurrent asset
Current liability	(4,108)	(4,195)
Noncurrent liability	(54,423)	(53,293)
Net amount recognized	(58,531)	(57,488)
Net actuarial loss	34,717	34,782
Prior service cost/(credit)	(26,411)	(30,899)
Net amount recognized	$ 8,306	$ 3,883

Pensions and Other Postretirement Benefit Plans (Schedule of Net Periodic Benefit Plan Cost) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
United States [Member]
Weighted average assumptions used to determine net cost:
Discount rate	4.20%	4.54%	4.18%
Expected return on plan assets	4.40%	4.74%	4.43%
Rate of compensation increase
Non-U.S. Pension Plans [Member]
Weighted average assumptions used to determine net cost:
Discount rate	2.98%	3.67%	3.58%
Expected return on plan assets	4.46%	5.39%	5.52%
Rate of compensation increase	3.29%	3.24%	3.23%
United States Postretirement Benefits Plan [Member]
Weighted average assumptions used to determine net cost:
Discount rate	4.00%	4.24%	3.90%
Expected return on plan assets
Rate of compensation increase
Non-U.S. Postretirement Benefits Plan [Member]
Weighted average assumptions used to determine net cost:
Discount rate	3.70%	4.00%	3.85%
Expected return on plan assets
Rate of compensation increase	3.00%	3.00%	3.00%
Pension Plans [Member]
Components of net periodic benefit cost:
Service cost	$ 2,720	$ 2,656	$ 2,959
Interest cost	7,476	7,885	7,787
Expected return on assets	(8,152)	(8,675)	(8,630)
Amortization of prior service cost/(credit)	36	38	48
Amortization of net actuarial loss	2,628	2,283	2,594
Settlement		162	103
Curtailment (gain)/loss		(111)
Special/contractual termination benefits			44
Net periodic benefit cost	4,708	4,238	4,905
Other postretirement benefits [Member]
Components of net periodic benefit cost:
Service cost	244	254	330
Interest cost	2,214	2,443	2,437
Expected return on assets
Amortization of prior service cost/(credit)	(4,488)	(4,488)	(4,488)
Amortization of net actuarial loss	2,811	2,819	3,338
Settlement
Curtailment (gain)/loss
Special/contractual termination benefits
Net periodic benefit cost	$ 781	$ 1,028	$ 1,617

Pensions and Other Postretirement Benefit Plans (Schedule of (Gains)/Losses Recognized in Other Comprehensive Income) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
(Gains)/losses in plan assets and benefit obligations recognized in other comprehensive income:
Settlements/curtailments		$ (51)	$ (103)
Asset/liability loss/(gain)	(2,955)	5,498	700
Amortization of actuarial (loss)	(5,439)	(5,102)	(5,932)
Amortization of prior service (cost)/credit	4,453	$ 4,450	$ 4,440
Pension Plans [Member]
(Gains)/losses in plan assets and benefit obligations recognized in other comprehensive income:
Settlements/curtailments
Asset/liability loss/(gain)	(4,408)
Amortization of actuarial (loss)	(2,628)
Amortization of prior service (cost)/credit	(36)
Currency impact	1,930
Cost/(benefit) in other comprehensive income	(5,142)
Total cost/(benefit) recognized in net periodic benefit cost and other comprehensive income	(434)
Other postretirement benefits [Member]
(Gains)/losses in plan assets and benefit obligations recognized in other comprehensive income:
Settlements/curtailments
Asset/liability loss/(gain)	2,743
Amortization of actuarial (loss)	(2,811)
Amortization of prior service (cost)/credit	4,488
Currency impact	2
Cost/(benefit) in other comprehensive income	4,422
Total cost/(benefit) recognized in net periodic benefit cost and other comprehensive income	$ 5,203

Pensions and Other Postretirement Benefit Plans (Schedule of Amounts That Will Be Amortized from Accumulated Other Comprehensive Income) (Details) $ in Thousands	Dec. 31, 2017 USD ($)
Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Actuarial loss	$ 2,232
Prior service cost/(benefit)	35
Total	2,267
Other postretirement benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Actuarial loss	2,956
Prior service cost/(benefit)	(4,488)
Total	$ (1,532)

Pensions and Other Postretirement Benefit Plans (Schedule of Fair Value of Plan Assets) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Defined Benefit Plan Disclosure [Line Items]
Investment of plan assets	$ 16,200	$ 7,800
Other postretirement benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets
Investment of plan assets
Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	205,586	180,672	171,387
Investment of plan assets	16,242	7,794
Pension Plans [Member] \| Total investments in the fair value hierarchy [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	87,358	80,397
Pension Plans [Member] \| Quoted Prices in Active Markets (Level 1) [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	3,588	3,710
Pension Plans [Member] \| Significant Other Observable Inputs (Level 2) [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	81,363	74,449
Pension Plans [Member] \| Significant Unobservable Inputs (Level 3) [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	2,407	2,238	2,403
Common Stocks and Equity Funds [Member] \| Other postretirement benefits [Member] \| Quoted Prices in Active Markets (Level 1) [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	335	309
Common Stocks and Equity Funds [Member] \| Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	335	309
Investment of plan assets	37,768	35,510
Common Stocks and Equity Funds [Member] \| Pension Plans [Member] \| Significant Other Observable Inputs (Level 2) [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets
Common Stocks and Equity Funds [Member] \| Pension Plans [Member] \| Significant Unobservable Inputs (Level 3) [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets
Debt Securities [Member] \| Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	81,363	74,449
Debt Securities [Member] \| Pension Plans [Member] \| Quoted Prices in Active Markets (Level 1) [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets
Debt Securities [Member] \| Pension Plans [Member] \| Significant Other Observable Inputs (Level 2) [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	81,363	74,449
Debt Securities [Member] \| Pension Plans [Member] \| Significant Unobservable Inputs (Level 3) [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets
Fixed income funds [Member] \| Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Investment of plan assets	75,881	59,662
Insurance Contracts [Member] \| Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	2,407	2,238
Insurance Contracts [Member] \| Pension Plans [Member] \| Quoted Prices in Active Markets (Level 1) [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets
Insurance Contracts [Member] \| Pension Plans [Member] \| Significant Other Observable Inputs (Level 2) [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets
Insurance Contracts [Member] \| Pension Plans [Member] \| Significant Unobservable Inputs (Level 3) [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	2,407	2,238	$ 2,403
Cash and Short-Term Investments [Member] \| Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	3,253	3,401
Cash and Short-Term Investments [Member] \| Pension Plans [Member] \| Quoted Prices in Active Markets (Level 1) [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	3,253	3,401
Cash and Short-Term Investments [Member] \| Pension Plans [Member] \| Significant Other Observable Inputs (Level 2) [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets
Cash and Short-Term Investments [Member] \| Pension Plans [Member] \| Significant Unobservable Inputs (Level 3) [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets
Limited Partnerships [Member] \| Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Investment of plan assets	4,579	5,065
Hedge Funds [Member] \| Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Investment of plan assets		$ 38

Pensions and Other Postretirement Benefit Plans (Reconciliation of Level 3 Assets) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, beginning of year	$ 180,672	$ 171,387
Fair value of plan assets, end of year	205,586	180,672
Pension Plans [Member] \| Significant Unobservable Inputs (Level 3) [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, beginning of year	2,238	2,403
Net realized gains
Net unrealized gains	56	26
Net purchases, issuances and settlements	113	(191)
Net transfers (out of) Level 3
Fair value of plan assets, end of year	2,407	2,238
Insurance Contracts [Member] \| United States [Member] \| Significant Unobservable Inputs (Level 3) [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, beginning of year	2,238
Net realized gains
Net unrealized gains	56
Net purchases, issuances and settlements	113
Net transfers (out of) Level 3
Fair value of plan assets, end of year	2,407	2,238
Insurance Contracts [Member] \| Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, beginning of year	2,238
Fair value of plan assets, end of year	2,407	2,238
Insurance Contracts [Member] \| Pension Plans [Member] \| Significant Unobservable Inputs (Level 3) [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, beginning of year	2,238	2,403
Net realized gains
Net unrealized gains		26
Net purchases, issuances and settlements		(191)
Net transfers (out of) Level 3
Fair value of plan assets, end of year	$ 2,407	$ 2,238

Pensions and Other Postretirement Benefit Plans (Schedule of Asset Allocation) (Details)

Dec. 31, 2017

Dec. 31, 2016

United States [Member]

Defined Benefit Plan Disclosure [Line Items]

Target Allocation

100.00%

Percentage of plan assets at plan measurement date

100.00%

United States [Member] | Common Stocks and Equity Funds [Member]

Defined Benefit Plan Disclosure [Line Items]

Target Allocation

Percentage of plan assets at plan measurement date

1.00%

2.00%

United States [Member] | Debt Securities [Member]

Defined Benefit Plan Disclosure [Line Items]

Target Allocation

100.00%

Percentage of plan assets at plan measurement date

95.00%

92.00%

United States [Member] | Real Estate [Member]

Defined Benefit Plan Disclosure [Line Items]

Target Allocation

Percentage of plan assets at plan measurement date

4.00%

5.00%

United States [Member] | Other [Member]

Defined Benefit Plan Disclosure [Line Items]

Target Allocation

^[1]

Percentage of plan assets at plan measurement date

^[1]

1.00%

Non-U.S. Pension Plans [Member]

Defined Benefit Plan Disclosure [Line Items]

Target Allocation

100.00%

Percentage of plan assets at plan measurement date

100.00%

Non-U.S. Pension Plans [Member] | Common Stocks and Equity Funds [Member]

Defined Benefit Plan Disclosure [Line Items]

Target Allocation

32.00%

Percentage of plan assets at plan measurement date

30.00%

33.00%

Non-U.S. Pension Plans [Member] | Debt Securities [Member]

Defined Benefit Plan Disclosure [Line Items]

Target Allocation

64.00%

Percentage of plan assets at plan measurement date

64.00%

61.00%

Non-U.S. Pension Plans [Member] | Real Estate [Member]

Defined Benefit Plan Disclosure [Line Items]

Target Allocation

1.00%

Percentage of plan assets at plan measurement date

1.00%

Non-U.S. Pension Plans [Member] | Other [Member]

Defined Benefit Plan Disclosure [Line Items]

Target Allocation

^[1]

3.00%

Percentage of plan assets at plan measurement date

^[1]

5.00%

6.00%

[1]	Other includes hedged equity and absolute return strategies, and private equity. The Company has procedures to closely monitor the performance of these investments and compares asset valuations to audited financial statements of the funds.

Pensions and Other Postretirement Benefit Plans (Schedule of Pension Plans with Projected Benefit Obligation and Accumulated Benefit Obligation in Excess of Plan Assets) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Plans with projected benefit obligation in excess of plan assets:
Projected benefit obligation	$ 131,717	$ 121,600
Fair value of plan assets	90,149	83,622
Plans with accumulated benefit obligation in excess of plan assets:
Accumulated benefit obligation	129,698	119,728
Fair value of plan assets	$ 90,149	$ 83,558

Pensions and Other Postretirement Benefit Plans (Schedule of Expected Cash Flows) (Details) $ in Thousands	Dec. 31, 2017 USD ($)
Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Expected employer contributions in the next fiscal year	$ 4,787
2018	7,495
2019	7,605
2020	8,104
2021	8,925
2022	9,207
2023 - 2027	55,897
Other postretirement benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Expected employer contributions in the next fiscal year	4,108
2018	4,108
2019	3,985
2020	3,872
2021	3,801
2022	3,749
2023 - 2027	$ 17,890

Restructuring (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended			36 Months Ended
	Dec. 31, 2015	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2017
Restructuring Cost and Reserve [Line Items]
Restructuring charges accrued		$ 5,000			$ 14,800
Non-cash restructuring charges relating to impairment of long-lived assets		4,500
Fair value adjustment on available-for-sale assets				$ 3,212
Restructuring reserve, current		2,714	4,668		2,714
Restructuring reserve, noncurrent		600	908		$ 600
Payments for restructuring		1,600
Former Employee [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges accrued			1,600
Reduced Employee Expenses [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges accrued		800	2,600	11,400
Fair value adjustment on available-for-sale assets				3,300
Early Retirement Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges accrued	$ 8,100
Machine Clothing [Member]
Restructuring Cost and Reserve [Line Items]
Write-off of equipment			$ 2,200
Payments for restructuring		$ 1,100
Machine Clothing and Corporate [Member] \| Early Retirement Program [Member]
Restructuring Cost and Reserve [Line Items]
Effect of cost savings				$ 4,300

Restructuring (Schedule of Restructuring Charges) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Restructuring expenses, net
Restructuring expenses, net	$ 13,491	$ 8,376	$ 23,846
Machine Clothing [Member]
Restructuring expenses, net
Restructuring expenses, net	3,429	6,069	22,211
Albany Engineered Composites [Member]
Restructuring expenses, net
Restructuring expenses, net	10,062	2,314
Termination and Other Costs [Member]
Restructuring expenses, net
Restructuring expenses, net	7,949	7,251	20,541
Termination and Other Costs [Member] \| Machine Clothing [Member]
Restructuring expenses, net
Restructuring expenses, net	2,945	5,756	18,906
Termination and Other Costs [Member] \| Albany Engineered Composites [Member]
Restructuring expenses, net
Restructuring expenses, net	5,004	1,502
Impairment of Plant and Equipment [Member]
Restructuring expenses, net
Restructuring expenses, net	5,542	1,237	3,305
Impairment of Plant and Equipment [Member] \| Machine Clothing [Member]
Restructuring expenses, net
Restructuring expenses, net	484	425	3,305
Impairment of Plant and Equipment [Member] \| Albany Engineered Composites [Member]
Restructuring expenses, net
Restructuring expenses, net	5,058	812
Benefit Plan Curtailment/ Settlement [Member]
Restructuring expenses, net
Restructuring expenses, net		(112)
Benefit Plan Curtailment/ Settlement [Member] \| Machine Clothing [Member]
Restructuring expenses, net
Restructuring expenses, net		(112)
Benefit Plan Curtailment/ Settlement [Member] \| Albany Engineered Composites [Member]
Restructuring expenses, net
Restructuring expenses, net
Corporate Expenses [Member]
Restructuring expenses, net
Restructuring expenses, net		(7)	1,635
Corporate Expenses [Member] \| Termination and Other Costs [Member]
Restructuring expenses, net
Restructuring expenses, net		(7)	1,635
Corporate Expenses [Member] \| Impairment of Plant and Equipment [Member]
Restructuring expenses, net
Restructuring expenses, net
Corporate Expenses [Member] \| Benefit Plan Curtailment/ Settlement [Member]
Restructuring expenses, net
Restructuring expenses, net

Restructuring (Schedule of Restructuring Liability) (Details) - USD ($) $ in Thousands	12 Months Ended		36 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2017
Restructuring Reserve [Roll Forward]
Restructuring charges accrued	$ 5,000		$ 14,800
Payments	(1,600)
Termination Costs [Member]
Restructuring Reserve [Roll Forward]
Beginning balance	5,559	$ 10,177
Restructuring charges accrued	7,949	7,251
Payments	(10,351)	(11,800)
Currency translation/other	169	(69)
Ending balance	$ 3,326	$ 5,559	$ 3,326

Other Expense/(Income), net (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Other Income and Expenses [Abstract]
Currency transactions	$ 4,634	$ (3,532)	$ 1,496
Bank fees and amortization of debt issuance costs	487	759	916
Gain on insurance recovery	(2,000)
Loss due to theft		2,506
Gain on sale of investment			(872)
Other	1,231	313	893
Total	$ 4,352	$ 46	$ 2,433

Income Taxes (Narrative) (Details) $ in Thousands	12 Months Ended
Income Taxes (Narrative) (Details) $ in Thousands	Dec. 31, 2017 USD ($) countries	Dec. 31, 2016 USD ($)	Dec. 31, 2015 USD ($)
Income Tax Disclosure [Line Items]
Number of countries in which operations constitute a taxable presence \| countries	18
Net increase (decrease) in valuation allowance	$ (5,300)
Tax rates	35.00%	35.00%	35.00%
Federal tax rate of deferred tax assets and liabilities	21.00%
Remeasurement of Company's deferred tax balance tax charge	$ 1,000
Net operating loss carryforwards	111,000
Net operating loss carryforwards, deferred tax asset	23,400	$ 27,800
Net operating loss carryforwards, valuation allowance	12,700
Provisional transition tax	5,800
Current year and prior year earnings of Company's foreign operations	41,000
Foreign withholding taxes	900
Unrepatriated foreign earnings	5,800
Income tax expense recorded due to expected repatriation of foreign earnings	5,800
Accumulated undistributed earnings intended to remain permanently invested	200,000
Recognized interest and penalties related to unrecognized tax benefits	100	100	$ 100
Accrued interest and penalties related to unrecognized tax benefits	400	300	400
Taxes paid, net of refunds	$ 23,700	23,400	$ 18,300
China [Member]
Income Tax Disclosure [Line Items]
Tax rates	25.00%
Mexico [Member]
Income Tax Disclosure [Line Items]
Tax rates	30.00%
Brazil [Member]
Income Tax Disclosure [Line Items]
Tax rates	34.00%
France [Member]
Income Tax Disclosure [Line Items]
Tax rates	33.33%
Valuation Allowance Deferred Tax Assets [Member]
Income Tax Disclosure [Line Items]
Net increase (decrease) in valuation allowance	$ (3,600)
Credit refunded years	2018 to 2022
Valuation Allowance due to Foreign Currency Translation [Member]
Income Tax Disclosure [Line Items]
Net increase (decrease) in valuation allowance	$ 2,100
Tax Attributes With Limited Lives [Member]
Income Tax Disclosure [Line Items]
Net deferred tax asset	$ 43,300
Earliest Tax Year [Member]
Income Tax Disclosure [Line Items]
Open tax years	2007
Earliest Tax Year [Member] \| Research and Development [Member]
Income Tax Disclosure [Line Items]
Tax credit carryforwards, expiration date	Jan. 01, 2025
Latest Tax Year [Member]
Income Tax Disclosure [Line Items]
Open tax years	2017
State and Local Jurisdiction [Member]
Income Tax Disclosure [Line Items]
Net operating loss carryforwards	$ 20,100
Non-U.S. [Member]
Income Tax Disclosure [Line Items]
Tax credit carryforward	33,700
Net deferred tax asset	13,978	12,308
Non-U.S. [Member] \| Research and Development [Member]
Income Tax Disclosure [Line Items]
Tax credit carryforward	1,500
Non-U.S. [Member] \| Research and Development [Member] \| Minimum [Member]
Income Tax Disclosure [Line Items]
Tax credit carryforward	$ 1,300
Non-U.S. [Member] \| Earliest Tax Year [Member]
Income Tax Disclosure [Line Items]
Tax credit carryforwards, expiration date	Jan. 01, 2020
United States [Member]
Income Tax Disclosure [Line Items]
Net deferred tax asset	$ 45,100
Domestic Tax Authority [Member]
Income Tax Disclosure [Line Items]
Net deferred tax asset	45,097	$ 45,369
Domestic Tax Authority [Member] \| Research and Development [Member]
Income Tax Disclosure [Line Items]
Tax credit carryforward	7,600
AMT credit carryforward [Member]
Income Tax Disclosure [Line Items]
Tax credit carryforward	$ 1,000

Income Taxes (Schedule of Components of Income Tax (Benefit)/Expense) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Income tax based on income from continuing operations, at estimated tax rates of 32%, 35%, and 32%, respectively	$ 17,519	$ 27,629	$ 16,388
Income tax before discrete items	17,519	27,629	16,388
Discrete tax expense (benefit):
Worthless stock deduction			(28,553)
Net impact of mandatory deemed repatriations	5,758
Provision for/resolution of tax audits and contingencies, net	1,329	(2,856)	6,500
Adjustments to prior period tax liabilities	(840)	586	(867)
Provision for/adjustment to beginning of year valuation allowances	(3,522)	(88)	75
Enacted tax legislation	1,879	183	670
Total income tax expense/(benefit)	$ 22,123	$ 25,454	$ (5,787)
Estimated tax rate	32.00%	35.00%	32.00%

Income Taxes (Schedule of Income/(Loss) From Continuing Operations) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Tax Disclosure [Abstract]
U.S.	$ (5,865)	$ 8,556	$ (7,211)
Non-U.S.	60,573	69,710	58,689
Income/(loss) before income taxes	54,708	78,266	51,478
Current:
Federal	1,551	3,728
State	1,770	176	1,993
Non-U.S.	19,282	19,979	20,842
Current income tax provision	22,603	23,883	22,835
Deferred:
Federal	1,881	2,138	(34,135)
State	(1,237)	1,984	(40)
Non-U.S.	(1,124)	(2,551)	5,553
Deferred income tax provision	(480)	1,571	(28,622)
Total income tax expense/(benefit)	$ 22,123	$ 25,454	$ (5,787)

Income Taxes (Schedule of Components of Deferred Income Tax Expense/(Benefit)) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Net effect of temporary differences	$ (5,774)	$ 7,214	$ (7,615)
Foreign tax credits	8,340	(6,869)	(17,874)
Retirement benefits	(502)	1,734	1,844
Net impact to operating loss carryforwards	(900)	(603)	(5,722)
Enacted changes in tax laws and rates	1,878	183	670
Adjustments to beginning-of-the-year valuation allowance balance for changes in circumstances	(3,522)	(88)	75
Deferred income tax provision	$ (480)	$ 1,571	$ (28,622)

Income Taxes (Reconciliation of the U.S. Federal Statutory Tax Rate to the Company's Effective Income Tax Rate) (Details)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Tax Disclosure [Abstract]
U.S. federal statutory tax rate	35.00%	35.00%	35.00%
State taxes, net of federal benefit	1.00%	2.30%	2.40%
Non-U.S. local income taxes	5.90%	3.50%	4.10%
Foreign permanent adjustments	0.40%	1.60%	7.40%
Foreign rate differential	(10.50%)	(11.30%)	(13.60%)
Net U.S. tax on non-U.S. earnings and foreign withholdings	11.90%	5.80%	(1.80%)
Provision for/resolution of tax audits and contingencies, net	2.40%	(3.40%)	12.60%
Research and development and other tax credits	(1.50%)	(1.20%)	(2.40%)
Adjustment to beginning-of-the-year valuation allowances	(6.40%)	(0.10%)	0.10%
Worthless stock deduction			(55.50%)
Other	2.20%	0.30%	0.50%
Effective income tax rate	40.40%	32.50%	(11.20%)

Income Taxes (Schedule of Deferred Tax Assets and Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Income Tax Disclosure [Line Items]
Tax loss carryforwards	$ 23,400	$ 27,800
Unrepatriated foreign earnings	5,800
Domestic Tax Authority [Member]
Income Tax Disclosure [Line Items]
Total deferred tax assets	70,431	99,481
Total deferred tax liabilities	25,334	54,112
Net deferred tax asset	45,097	45,369
Non-U.S. [Member]
Income Tax Disclosure [Line Items]
Total deferred tax assets	16,575	15,205
Total deferred tax liabilities	2,597	6,774
Net deferred tax asset	13,978	12,308
Noncurrent Assets [Member] \| Domestic Tax Authority [Member]
Income Tax Disclosure [Line Items]
Accounts receivable	557	1,155
Inventories	1,109	1,193
Deferred compensation	3,300	7,533
Depreciation and amortization		2,786
Postretirement benefits	18,286	26,602
Tax loss carryforwards	1,368	1,760
Tax credit carryforwards	41,920	50,624
Other	3,891	7,828
Deferred tax assets before valuation allowance	70,431	99,481
Less: valuation allowance
Total deferred tax assets	70,431	99,481
Noncurrent Assets [Member] \| Non-U.S. [Member]
Income Tax Disclosure [Line Items]
Accounts receivable	1,341	1,381
Inventories	961	1,868
Deferred compensation	1,362
Depreciation and amortization	3,211	2,564
Postretirement benefits	1,464	2,067
Tax loss carryforwards	22,639	26,084
Tax credit carryforwards	1,654	1,186
Other		2,876
Deferred tax assets before valuation allowance	32,632	38,026
Less: valuation allowance	(16,057)	(22,821)
Total deferred tax assets	16,575	15,205
Noncurrent Liabilities [Member] \| Domestic Tax Authority [Member]
Income Tax Disclosure [Line Items]
Unrepatriated foreign earnings	914	1,602
Depreciation and amortization	20,170	43,156
Deferred Gain	4,169	7,156
Other	81	2,198
Total deferred tax liabilities	25,334	54,112
Noncurrent Liabilities [Member] \| Non-U.S. [Member]
Income Tax Disclosure [Line Items]
Unrepatriated foreign earnings
Depreciation and amortization
Deferred Gain
Other	2,597	2,897
Total deferred tax liabilities	$ 2,597	$ 2,897

Income Taxes (Reconciliation of the Beginning and Ending Amount of Unrecognized Tax Benefits) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Unrecognized tax benefits balance at January 1	$ 4,183	$ 19,606	$ 19,509
Increase in gross amounts of tax positions related to prior years	480	62	2,315
Decrease in gross amounts of tax positions related to prior years	(50)	(2,129)	(145)
Increase in gross amounts of tax positions related to current year		585	79
Decrease due to settlements with tax authorities	(381)	(14,029)	(42)
Decrease due to lapse in statute of limitations	(29)	(163)	(90)
Currency translation	306	251
Currency translation			(2,020)
Unrecognized tax benefits balance at December 31	$ 4,509	$ 4,183	$ 19,606

Income Taxes (Schedule of Current Income Taxes Prepaid and Receivable) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Prepaid taxes	$ 4,872	$ 3,914
Taxes receivable	1,394	1,299
Total current income taxes prepaid and receivable	$ 6,266	$ 5,213

Income Taxes (Schedule of Noncurrent Deferred Taxes and Other Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Deferred income taxes	$ 9,573	$ 11,188
Other liabilities	1,418	1,201
Total noncurrent deferred taxes and other liabilities	$ 10,991	$ 12,389

- Definition

Amount of unearned revenue or income classified as other, expected to be taken into income after one year or the normal operating cycle, if longer.

+ References + Details

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended												12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Earnings Per Share [Abstract]
Net income attributable to the Company													$ 33,111	$ 52,733	$ 57,279
Weighted average number of shares used in calculating basic net income per share													32,169	32,086	31,978
Stock options													30	39	58
Long-term incentive plan													45	45	52
Weighted average number of shares used in calculating diluted net income per share													32,244	32,170	32,088
Average market price of common stock used for calculation of dilutive shares													$ 52.19	$ 40.25	$ 36.68
Basic	$ 0.19	$ 0.47	$ 0.03	$ 0.34	$ 0.49	$ 0.41	$ 0.32	$ 0.42	$ 1.18	$ 0.30	$ (0.07)	$ 0.38	1.03	1.64	1.79
Diluted	$ 0.19	$ 0.47	$ 0.03	$ 0.34	$ 0.49	$ 0.41	$ 0.32	$ 0.42	$ 1.18	$ 0.30	$ (0.07)	$ 0.38	$ 1.03	$ 1.64	$ 1.79
Common Stock, shares outstanding	32,200				32,100				32,000				32,200	32,100	32,000

Accumulated Other Comprehensive Income (Schedule of Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	$ (184,189)	$ (158,844)	$ (107,767)
Other comprehensive income/(loss) before reclassifications	44,363	(23,163)	(53,013)
Pension/postretirement settlements and curtailments		45	103
Pension/postretirement plan remeasurement	2,037	(4,394)	(622)
Interest expense related to swaps reclassified to the Statement of Income, net of tax	924	1,488	1,233
Pension and postretirement liability adjustments reclassified to Statement of Income, net of tax	964	679	1,222
Net current period other comprehensive income	48,288	(25,345)	(51,077)
Ending balance	(135,901)	(184,189)	(158,844)
Translation Adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(133,298)	(108,655)	(55,240)
Other comprehensive income/(loss) before reclassifications	45,980	(24,643)	(53,415)
Pension/postretirement settlements and curtailments
Pension/Postretirement plan change in benefits
Pension/postretirement plan remeasurement
Interest expense related to swaps reclassified to the Statement of Income, net of tax
Net current period other comprehensive income	45,980	(24,643)	(53,415)
Ending balance	(87,318)	(133,298)	(108,655)
Pension and Postretirement Liability Adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(51,719)	(48,725)	(51,666)
Other comprehensive income/(loss) before reclassifications	(1,818)	676	2,238
Pension/postretirement settlements and curtailments	2,037	45	103
Pension/postretirement plan remeasurement		(4,394)	(622)
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	964	679	1,222
Net current period other comprehensive income	1,183	(2,994)	2,941
Ending balance	(50,536)	(51,719)	(48,725)
Derivative Valuation Adjustment [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	828	(1,464)	(861)
Other comprehensive income/(loss) before reclassifications	201	804	(1,836)
Pension/postretirement settlements and curtailments
Pension/postretirement plan remeasurement
Interest expense related to swaps reclassified to the Statement of Income, net of tax	924	1,488	1,233
Pension and postretirement liability adjustments reclassified to Statement of Income, net of tax
Net current period other comprehensive income	1,125	2,292	(603)
Ending balance	$ 1,953	$ 828	$ (1,464)

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

3 Months Ended

12 Months Ended

Dec. 31, 2017

Sep. 30, 2017

Jun. 30, 2017

Mar. 31, 2017

Dec. 31, 2016

Sep. 30, 2016

Jun. 30, 2016

Mar. 31, 2016

Dec. 31, 2015

Sep. 30, 2015

Jun. 30, 2015

Mar. 31, 2015

Dec. 31, 2017

Dec. 31, 2016

Dec. 31, 2015

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

Payments made on interest rate swaps included in earnings

$ 18,602

$ 15,541

$ 11,841

Total pretax amount reclassified

(54,708)

(78,266)

(51,478)

Income tax effect

22,123

25,454

(5,787)

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

$ (5,900)

$ (15,300)

$ (1,100)

$ (10,800)

$ (15,800)

$ (13,100)

$ (10,400)

$ (13,500)

$ (37,600)

$ (9,700)

$ 2,200

$ (12,200)

(33,111)

(52,733)

(57,279)

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 earnings

^[1]

1,490

2,400

1,988

Income tax effect

(566)

(912)

(755)

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

924

1,488

1,233

Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Defined Benefit Plans Settlements and Curtailments [Member]

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

Total pretax amount reclassified

103

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

(4,453)

(4,450)

(4,440)

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

5,439

5,102

5,932

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]

986

703

1,595

Income tax effect

(22)

(270)

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

$ 964

$ 724

$ 1,325

[1]	Included in Interest expense are payments related to the interest rate swap agreements and amortization of swap buyouts (see Note 15).
[2]	These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note 4).

Noncontrolling Interest (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
Noncontrolling Interest (Details) - USD ($) $ in Thousands	Oct. 31, 2013	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Noncontrolling Interest [Line Items]
Net income of ASC		$ 32,585	$ 52,812	$ 57,265
Net (loss)/income of ASC available for common ownership		33,111	52,733	57,279
Net (loss)/income attributable to noncontrolling interest		(526)	79	(14)
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Noncontrolling interest, beginning of year		3,767
Net (loss)/income attributable to noncontrolling interest		(526)	79	(14)
Noncontrolling interest, end of year		3,247	3,767
Albany Safran Composites, LLC [Member]
Noncontrolling Interest [Line Items]
Interest in subsidiary sold	10.00%
Cash contribution	$ 28,000
Albany's remaining interest	90.00%
Net income of ASC		(4,224)	1,777
Less: Return attributable to the Company's preferred holding		1,032	987
Net (loss)/income of ASC available for common ownership		$ (5,256)	$ 790
Ownership percentage of noncontrolling shareholder		10.00%	10.00%
Net (loss)/income attributable to noncontrolling interest		$ (526)	$ 79
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Noncontrolling interest, beginning of year		3,767	3,690
Net (loss)/income attributable to noncontrolling interest		(526)	79
Changes in other comprehensive income attributable to noncontrolling interest		6	(2)
Noncontrolling interest, end of year		$ 3,247	$ 3,767	$ 3,690

Property, Plant and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 1,350,768	$ 1,222,494
Accumulated depreciation and amortization	(896,466)	(799,930)
Property, plant and equipment, net	454,302	422,564	$ 357,470
Expenditures for maintenance and repairs	19,100	16,600	16,600
Depreciation expense	61,517	58,106	52,974
Software amortization	3,600	4,000	6,500
Capital expenditures and purchased software	87,637	73,492	50,595
Unamortized software cost	7,600	7,200
Asset held for sale real property			$ 4,988
Land and Land Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 14,853	13,339
Estimated useful life	25 years
Buildings [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 230,987	214,086
Buildings [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	25 years
Buildings [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	40 years
Building under capital lease [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 8,140	8,140
Estimated useful life	7 years
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 950,519	842,921
Machinery and Equipment [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	5 years
Machinery and Equipment [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	15 years
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 8,861	7,632
Estimated useful life	5 years
Computer and Other Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 15,610	15,264
Computer and Other Equipment [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	3 years
Computer and Other Equipment [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	10 years
Software [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 57,847	54,212
Software [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	5 years
Software [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	8 years
Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 63,951	66,900
Capital lease [Member]
Property, Plant and Equipment [Line Items]
Accumulated depreciation and amortization	$ (2,400)	$ (900)

Goodwill and Other Intangible Assets (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	$ 66,700	$ 72,100
Accumulated amortization of amortized intangible assets	11,300	5,600
Write-off of intangibles	4,149
Amortization of intangible assets	6,864	5,330
Cost of Goods Sold [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets	3,300	2,600
Selling, General and Administrative Expenses [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets	$ 3,600	$ 2,700

Goodwill and Other Intangible Assets (Schedule of Changes in Intangible Assets and Goodwill) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Amortized intangible assets:
Beginning balance	$ 66,454	$ 154
Acquisition		71,630
Amortization	(6,864)	(5,330)
Other Changes	(4,149)
Currency Translation
Ending balance	55,441	66,454
Beginning balance	160,375	66,373
Acquisition		95,730
Amortization
Currency Translation	6,421	(1,728)
Ending balance	$ 166,796	160,375
AEC Trade Names [Member]
Amortized intangible assets:
Amortization life in year	15 years
Beginning balance	$ 20	25
Acquisition
Amortization	(5)	(5)
Other Changes
Currency Translation
Ending balance	$ 15	20
AEC Technology [Member]
Amortized intangible assets:
Amortization life in year	15 years
Beginning balance	$ 104	129
Acquisition
Amortization	(24)	(25)
Other Changes
Currency Translation
Ending balance	$ 80	104
Customer Contracts [Member]
Amortized intangible assets:
Amortization life in year	6 years
Beginning balance	$ 17,859
Acquisition		20,420
Amortization	(3,280)	(2,561)
Other Changes	(961)
Currency Translation
Ending balance	$ 13,618	17,859
Customer Relationships [Member]
Amortized intangible assets:
Amortization life in year	15 years
Beginning balance	$ 47,009
Acquisition		49,490
Amortization	(3,280)	(2,481)
Other Changes	(2,211)
Currency Translation
Ending balance	$ 41,518	47,009
Other Intangible Assets [Member]
Amortized intangible assets:
Amortization life in year	5 years
Beginning balance	$ 1,462
Acquisition		1,720
Amortization	(275)	(258)
Other Changes	(977)
Currency Translation
Ending balance	210	1,462
MC Goodwill [Member]
Amortized intangible assets:
Beginning balance	64,645	66,373
Acquisition
Amortization
Currency Translation	6,421	(1,728)
Ending balance	71,066	64,645
AEC Goodwill [Member]
Amortized intangible assets:
Beginning balance	95,730
Acquisition		95,730
Amortization
Currency Translation
Ending balance	$ 95,730	$ 95,730

Goodwill and Other Intangible Assets (Schedule of Estimated Amortization Expense) (Details) $ in Thousands	Dec. 31, 2017 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2018	$ 6,232
2019	6,232
2020	6,232
2021	6,161
2022	$ 3,955

Accrued Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Payables and Accruals [Abstract]
Salaries and wages	$ 17,916	$ 18,520
Accrual for compensated absences	11,223	10,181
Employee benefits	13,553	13,277
Workers' compensation	2,397	2,053
Pension liability - current portion	2,094	2,057
Postretirement medical benefits - current portion	4,108	4,195
Returns and allowances	11,370	13,714
Billings in excess of revenue recognized	2,569	2,334
Contract loss reserve	11,902	56
Professional fees	2,310	3,068
Utilities	910	991
Dividends	5,474	5,458
Restructuring costs	2,714	4,668
Interest	817	1,218
Other	16,557	13,405
Total	$ 105,914	$ 95,195

Financial Instruments (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 18, 2017	Nov. 28, 2017	Nov. 27, 2017	Nov. 07, 2017	May 06, 2016	Apr. 08, 2016
Debt Instrument [Line Items]
Principal payments due in 2019	$ 1,900
Principal payments due in 2020	2,000
Principal payments due in 2021	2,100
Principal payments due in 2022	50,810
Interest paid	$ 16,000	$ 13,700	$ 12,600
Maximum leverage ratio allowed	3.75
Minimum interest coverage ratio required	3.00
Leverage ratio	2.62
Interest coverage ratio	9.27
Capital Lease Obligations [Member]
Debt Instrument [Line Items]
Interest rate		5.00%
Maturity date	Dec. 31, 2022
Private Placement, Notes [Member]
Debt Instrument [Line Items]
Interest rate	6.84%	6.84%
Maturity date	Oct. 25, 2017
Final principal repayment made under Prudential Agreement	$ 50,000
Revolving Credit Agreement [Member]
Debt Instrument [Line Items]
Amount of credit facility							$ 685,000		$ 550,000
Amount of credit facility outstanding	501,000
Additional amount that can be borrowed on facility	$ 184,000
LIBOR spread	1.50%
Interest rate at end of period	3.40%	2.58%
Revolving Credit Agreement [Member] \| Interest Rate Swap [Member]
Debt Instrument [Line Items]
Borrowings, revolving credit facility						$ 300,000		$ 120,000
Notional amount				$ 350,000	$ 350,000
Fixed interest rate in swap				3.61%	2.11%
LIBOR rate				1.50%
Amount paid to terminate agreement								$ 5,200
Amount received from terminate agreement						$ 6,300
Revolving Credit Agreement [Member] \| Minimum [Member]
Debt Instrument [Line Items]
LIBOR spread	1.25%
Revolving Credit Agreement [Member] \| Maximum [Member]
Debt Instrument [Line Items]
LIBOR spread	1.75%

Financial Instruments (Schedule of Long-Term Debt) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Long-term debt	$ 515,919	$ 484,584
Less: current portion	(1,799)	(51,666)
Long-term debt, net of current portion	514,120	432,918
Revolving Credit Agreement [Member]
Debt Instrument [Line Items]
Long-term debt	$ 501,000	$ 418,000
Interest rate at end of period	3.40%	2.58%
Maturity date range, end	Dec. 31, 2022
Private Placement, Notes [Member]
Debt Instrument [Line Items]
Long-term debt		$ 50,000
Interest rate	6.84%	6.84%
Capital Lease Obligations [Member]
Debt Instrument [Line Items]
Long-term debt	$ 14,919	$ 16,584
Interest rate		5.00%
Maturity date range, end	Dec. 31, 2022

Financial Instruments (Schedule of future minimum annual lease payments) (Details) $ in Thousands	Dec. 31, 2017 USD ($)
Financial Instruments Schedule Of Future Minimum Annual Lease Payments Details
2018	$ 2,473
2019	2,473
2020	2,520
2021	2,520
2022	7,373
Total minimum lease payments	17,359
Less: Amount representing interest	(2,440)
Present value of minimum lease payments	$ 14,919

Fair-Value Measurements (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Derivative [Line Items]
Interest expense	$ 18,602	$ 15,541	$ 11,841
Interest Rate Swap [Member]
Derivative [Line Items]
Interest expense	800	1,900	$ 1,900
Interest Rate Swap Buyouts [Member]
Derivative [Line Items]
Interest expense	700	$ 600
Interest Rate Swap Buyouts [Member] \| Scenario, Forecast [Member]
Derivative [Line Items]
Interest income	$ 600

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

Dec. 31, 2017

Dec. 31, 2016

Derivative asset:

Common stock of foreign public company, original cost

$ 500

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

Assets:

Cash equivalents

$ 13,601

8,468

Common stock of foreign public company

999

^[1]

762

Interest rate swaps

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

Assets:

Cash equivalents

Common stock of foreign public company

Interest rate swaps

313

^[2]

5,784

^[3]

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

Assets:

Cash equivalents

Common stock of foreign public company

Interest rate swaps

Interest Rate Swap [Member]

Derivative liability:

Liability for fixed rate leg

34,900

21,400

Receivable for floating rate leg

$ 34,600

$ 15,600

[1]	Original cost basis $0.5 million.
[2]	Net of $34.9 million receivable floating leg and $34.6 million liability fixed leg
[3]	Net of $21.4 million receivable floating leg and $15.6 million liability fixed leg

Fair-Value Measurements (Schedule of (Losses)/Gains on Changes in Fair Value of Derivative Instruments) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Foreign Currency Options [Member] \| Not Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
(Losses)/gains recognized in income, net	$ (131)	$ 202	$ (121)

Other Noncurrent Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Other Liabilities Disclosure [Abstract]
Pension liabilities	$ 39,473	$ 35,921
Postretirement benefits other than pensions	54,423	53,293
Obligations under license agreement	897	10,254
Incentive and deferred compensation	3,048	3,468
Restructuring	600	908
Other	3,114	2,983
Total	$ 101,555	$ 106,827

Commitments and Contingencies (Narrative) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2017 USD ($) claims	Dec. 31, 2016 USD ($)	Dec. 31, 2015 USD ($)
Operating leases
Rental expense	$ 4.9	$ 5.2	$ 3.5
Due in 2018	4.1
Due in 2019	3.3
Due in 2020	2.4
Due in 2021	1.8
Due in 2022 and thereafter	$ 4.0
Asbestos Litigation [Member]
Operating leases
Total resolved claims, by means of settlement or dismissal \| claims	37,594
Total cost of resolution	$ 10.2
Resolution costs paid by insurance carrier	100.00%
Confirmed insurance coverage	$ 140.0
Asbestos Litigation [Member] \| Brandon Drying Fabrics, Inc. [Member]
Operating leases
Total resolved claims, by means of settlement or dismissal \| claims	7,707
Resolution costs paid by insurance carrier	100.00%

Commitments and Contingencies (Schedule of Changes in Claims) (Details) - Asbestos Litigation [Member] $ in Thousands	12 Months Ended
	Dec. 31, 2017 USD ($) claims	Dec. 31, 2016 USD ($) claims	Dec. 31, 2015 USD ($) claims	Dec. 31, 2014 USD ($) claims	Dec. 31, 2013 USD ($) claims	Dec. 31, 2012 USD ($) claims
Loss Contingencies [Line Items]
Opening Number of Claims	3,745	3,791	3,821	4,299	4,463	4,446
Claims Dismissed, Settled, or Resolved	105	148	116	625	230	90
New Claims	90	102	86	147	66	107
Closing Number of Claims	3,730	3,745	3,791	3,821	4,299	4,463
Amounts Paid (thousands) to Settle or Resolve \| $	$ 55	$ 758	$ 164	$ 437	$ 78	$ 530

Stock Options and Incentive Plans (Narrative) (Details) - USD ($) $ in Millions	1 Months Ended			12 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Contractual term of stock options, in years				20 years
Length of time options are valid after retirement, in years				10 years
Aggregate intrinsic value of vested options				$ 1.3
Aggregate intrinsic value of options exercised				$ 1.1	$ 0.5	$ 2.0
Long Term Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of stock authorized for payment of awards				190,616
Shares issued for long term incentive plan	25,899	26,146	35,393
Cash payments in connection with long term incentive plan	$ 1.0	$ 0.8	$ 1.2
Deferred compensation expense				$ 2.6	2.7	3.0
Vesting period				3 years
Additional share based compensation expense expected to be recognized in next twelve months				$ 1.2
Additional share based compensation expense expected to be recognized in two years				0.4
Long Term Incentive Plan [Member] \| Management [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued for long term incentive plan	18,784	26,774	19,571
Cash payments in connection with long term incentive plan	$ 1.9	$ 1.9	$ 1.5
Deferred compensation expense				2.6	3.3	3.4
Phantom Stock Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Deferred compensation expense				4.9	3.8	2.6
Compensation cost not yet recognized				$ 10.0
Vesting period				5 years
Compensation cost recognition period				2 years
Minimum [Member] \| Long Term Incentive Plan [Member] \| Management [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Earned incentive compensation paid in shares of Class A Common Stock				40.00%
Maximum [Member] \| Long Term Incentive Plan [Member] \| Management [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Earned incentive compensation paid in shares of Class A Common Stock				50.00%
Pension Plans [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Deferred compensation plan expense				$ 5.9	5.5	4.8
Pension Plans [Member] \| Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percent of employee contribution matched by the Company				50.00%
Pension Plans [Member] \| Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percent of employee contribution matched by the Company				100.00%
Profit Sharing Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Deferred compensation plan expense				$ 2.6	$ 2.9	$ 2.4

Stock Options and Incentive Plans (Schedules of Stock Option Activity) (Details) - Stock Options [Member] - $ / shares	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Shares
Shares under option	62,390	88,773	187,233
Options canceled	150
Options exercised	32,900	26,383	98,460
Shares under option at December 31	29,340	62,390	88,773
Options exercisable at December 31	29,340	62,390	88,773
Weighted Average Exercise Price
Shares under option January 1	$ 18.28	$ 18.67	$ 18.99
Options canceled	20.63
Options exercised	18.16	19.60	19.27
Shares under option December 31	18.40	18.28	18.67
Options exercisable December 31	$ 18.40	$ 18.28	$ 18.67

Stock Options and Incentive Plans (Schedules of Executive Management Share-based Compensation Activity) (Details) - Performance Shares [Member] - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Number of shares
Shares/Share units potentially payable, beginning balance	189,418	188,308	185,199
Forfeitures
Payments	(75,545)	(86,926)	(95,889)
Shares accrued	43,532	88,036	98,998
Shares/Share units potentially payable, ending balance	157,405	189,418	188,308
Weighted average grant date value per share
Shares/Share units potentially payable, beginning balance	$ 36.90	$ 35.35	$ 30.69
Forfeitures
Payments	36.35	33.43	29.09
Shares accrued	48.26	36.78	38.01
Shares/Share units potentially payable, ending balance	$ 40.30	$ 36.90	$ 35.35
Year-end intrinsic value
Shares potentially payable	$ 6,989	$ 6,657	$ 5,683
Shares potentially payable	$ 6,343	$ 6,989	$ 6,657

Stock Options and Incentive Plans (Schedules of Other Share-based Compensation Activity) (Details) - Restricted Stock [Member] - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Number of shares
Shares/Share units potentially payable, beginning balance	261,145	252,866	347,941
Grants	96,505	118,279	90,065
Changes due to performance	(11,891)	18,779	13,966
Payments	(89,190)	(88,073)	(167,482)
Forfeitures	(20,473)	(40,706)	(31,624)
Shares/Share units potentially payable, ending balance	236,096	261,145	252,866
Weighted average grant date value per share
Payments	$ 46.64	$ 33.20	$ 36.08
Cash paid for share based liabilities	$ 4,160	$ 2,924	$ 6,040

Shareholders' Equity (Narrative) (Details) - $ / shares shares in Millions	Dec. 31, 2017	Dec. 31, 2016
Common Class A [Member]
Class of Stock [Line Items]
Common Stock, par value per share	$ 0.001	$ 0.001
Common Stock reserved for the conversion of Class B Common Stock and the exercise of stock options	3.3
Number of shares authorized to be repurchased	2.0
Common Class B [Member]
Class of Stock [Line Items]
Common Stock, par value per share	$ 0.001	$ 0.001

Shareholders' Equity (Schedule of Activity in Shareholders' Equity) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Balance	$ 511,290
Balance, shares	32,100,000	32,000,000
Net income	$ 32,585	$ 52,812	$ 57,265
Balance	$ 573,015	$ 511,290
Balance, shares	32,200,000	32,100,000	32,000,000
Common Stock [Member] \| Common Class A [Member]
Balance	$ 37	$ 37	$ 37
Balance, shares	37,319,000	37,239,000	37,085,000
Net income
Compensation and benefits paid or payable in shares
Compensation and benefits paid or payable in shares, shares	44,000	53,000	55,000
Options exercised
Options exercised, shares	33,000	26,000	99,000
Shares issued to Directors'
Shares issued to Directors', shares		1,000
Dividends declared
Cumulative translation adjustments
Pension and postretirement liability adjustments
Derivative valuation adjustment
Balance	$ 37	$ 37	$ 37
Balance, shares	37,396,000	37,319,000	37,239,000
Common Stock [Member] \| Class B Preferred Stock [Member]
Balance	$ 3	$ 3	$ 3
Balance, shares	3,234,000	3,235,000	3,235,000
Net income
Compensation and benefits paid or payable in shares
Compensation and benefits paid or payable in shares, shares
Options exercised
Options exercised, shares
Shares issued to Directors'
Shares issued to Directors', shares		(1,000)
Dividends declared
Cumulative translation adjustments
Pension and postretirement liability adjustments
Derivative valuation adjustment
Balance	$ 3	$ 3	$ 3
Balance, shares	3,234,000	3,234,000	3,235,000
Additional Paid-in Capital [Member]
Balance	$ 425,953	$ 423,108	$ 418,972
Net income
Compensation and benefits paid or payable in shares	1,564	1,980	1,540
Options exercised	597	667	2,520
Shares issued to Directors'	309	198	76
Dividends declared
Cumulative translation adjustments
Pension and postretirement liability adjustments
Derivative valuation adjustment
Balance	428,423	425,953	423,108
Retained Earnings [Member]
Balance	522,855	491,950	456,105
Net income	33,111	52,733	57,279
Compensation and benefits paid or payable in shares
Options exercised
Shares issued to Directors'
Dividends declared	(21,884)	(21,828)	(21,434)
Cumulative translation adjustments
Pension and postretirement liability adjustments
Derivative valuation adjustment
Balance	534,082	522,855	491,950
Accumulated Other Comprehensive Income (Loss) [Member]
Balance	(184,189)	(158,844)	(107,767)
Net income
Compensation and benefits paid or payable in shares
Options exercised
Shares issued to Directors'
Dividends declared
Cumulative translation adjustments	45,980	(24,643)	(53,415)
Pension and postretirement liability adjustments	1,183	(2,994)	2,941
Derivative valuation adjustment	1,125	2,292	(603)
Balance	(135,901)	(184,189)	(158,844)
Treasury Stock [Member]
Balance	$ (257,136)	$ (257,391)	$ (257,481)
Balance, shares	8,443,000	8,455,000	8,459,000
Net income
Compensation and benefits paid or payable in shares
Options exercised
Shares issued to Directors'	$ 260	$ 255	$ 90
Shares issued to Directors', shares	(12,000)	(12,000)	(4,000)
Dividends declared
Cumulative translation adjustments
Pension and postretirement liability adjustments
Derivative valuation adjustment
Balance	$ (256,876)	$ (257,136)	$ (257,391)
Balance, shares	8,431,000	8,443,000	8,455,000
Noncontrolling Interest [Member]
Balance	$ 3,767	$ 3,690	$ 3,699
Net income	(526)	79	(14)
Compensation and benefits paid or payable in shares
Options exercised
Shares issued to Directors'
Dividends declared
Cumulative translation adjustments	6	(2)	5
Pension and postretirement liability adjustments
Derivative valuation adjustment
Balance	$ 3,247	$ 3,767	$ 3,690

Quarterly Financial Data (Narrative) (Details)	3 Months Ended
Quarterly Financial Data (Narrative) (Details)	Dec. 31, 2017 owners $ / shares	Sep. 30, 2017 $ / shares	Jun. 30, 2017 $ / shares	Mar. 31, 2017 $ / shares	Dec. 31, 2016 $ / shares	Sep. 30, 2016 $ / shares	Jun. 30, 2016 $ / shares	Mar. 31, 2016 $ / shares	Dec. 31, 2015 $ / shares	Sep. 30, 2015 $ / shares	Jun. 30, 2015 $ / shares	Mar. 31, 2015 $ / shares
Quarterly Financial Data [Abstract]
Restructuring charges, per share	$ 0.07	$ 0.11	$ 0.04	$ 0.05	$ 0.01	$ 0.01	$ 0.13	$ 0.01	$ 0.21	$ 0.07	$ 0.02	$ 0.18
Business acquistion adjustment decreased earing, per share					0.00	0.03
Costs related the acquisition transaction reduced earnings per share					0.00	0.00	0.08	0.03
Discrete income tax adjustments, per share	$ (0.21)	$ 0.12	$ (0.02)	$ (0.03)	$ 0.04	$ 0.00	$ 0.00	$ 0.03	$ 0.85	$ (0.15)	$ 0.00	(0.01)
Gain related to the sale of investment, per share												$ 0.02
Write-off of inventory (decreased)/increased earnings per share	1.00%	(6.00%)
Number of beneficial owners, including employees owning shares through the Company's 401(k) \| owners	20,000
Earnings per share	$ 0.01

Quarterly Financial Data (Schedule of Quarterly Data) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended												12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Net sales	$ 226,700	$ 222,100	$ 215,600	$ 199,300	$ 213,000	$ 191,300	$ 203,200	$ 172,300	$ 177,500	$ 178,800	$ 172,300	$ 181,300	$ 863,717	$ 779,839	$ 709,868
Gross profit	77,400	79,400	63,100	75,900	77,400	72,400	78,300	72,500	71,700	75,700	54,600	76,700	295,780	300,568	278,686
Net income/(loss) attributable to the Company	$ 5,900	$ 15,300	$ 1,100	$ 10,800	$ 15,800	$ 13,100	$ 10,400	$ 13,500	$ 37,600	$ 9,700	$ (2,200)	$ 12,200	$ 33,111	$ 52,733	$ 57,279
Basic earnings per share	$ 0.19	$ 0.47	$ 0.03	$ 0.34	$ 0.49	$ 0.41	$ 0.32	$ 0.42	$ 1.18	$ 0.30	$ (0.07)	$ 0.38	$ 1.03	$ 1.64	$ 1.79
Diluted earnings per share	0.19	0.47	0.03	0.34	0.49	0.41	0.32	0.42	1.18	0.30	(0.07)	0.38	1.03	1.64	1.79
Cash dividends per share	0.17	0.17	0.17	0.17	0.17	0.17	0.17	0.17	0.17	0.17	0.17	0.16	$ 0.68	$ 0.68	$ 0.67
Minimum [Member]
Class A Common Stock prices:	56.45	50.25	43.90	43.90	38.65	38.92	37.27	31.43	28.19	28.28	39.15	34.13
Maximum [Member]
Class A Common Stock prices:	$ 65.25	$ 57.60	$ 53.40	$ 49.05	$ 49.25	$ 43.78	$ 41.31	$ 38.21	$ 39.25	$ 40.21	$ 41.15	$ 40.31