Company: ASTE
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0000792987-25-000064
Chunk: 38

Company: ASTEC INDUSTRIES INC
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 38
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.9 million benefit derived from the 37 BP Litigation loss contingency release offset by the final settlement amount recorded during 2024, (v) increased travel costs of $1.1 million and (vi) increased bad debt expense of $1.1 million. These increases were partially offset by lower costs related to our strategic transformation program of $3.4 million and lower technology support costs of $0.9 million.

Selling, general and administrative expenses were $222.2 million, or 22.0% of net sales, for the first nine months of 2025, compared to $208.1 million, or 22.0% of net sales, for the first nine months of 2024, an increase of $14.1 million, or 6.8%, primarily due to (i) increased personnel-related costs of $16.9 million, partially driven by $5.9 million of employee incentive compensation costs, (ii) increased transaction costs of $6.1 million primarily attributable to the Acquisition and (iii) increased intangible asset amortization expense of $4.2 million. These increases were partially offset by lower costs related to our strategic transformation program of $10.4 million and decreased professional service costs of $2.8 million.

27

Restructuring Charges and Other Asset Gains, net

Restructuring charges and the gain on sale of property and equipment, net for the three and nine months ended September 30, 2025 and 2024 are presented below:

Three Months Ended September 30,Nine Months Ended September 30,(in millions)2025202420252024Restructuring charges:Costs associated with exited operations – Enid$(0.2)$8.4 $(0.2)$8.5 Workforce reductions— — — 0.9 Total restructuring related charges(0.2)8.4 (0.2)9.4 Gain on sale of property and equipment, net:Gain on sale of property and equipment, net— — (0.1)(1.1)Total gain on sale of property and equipment, net— — (0.1)(1.1)Restructuring and other asset (gains) losses, net$(0.2)$8.4 $(0.3)$8.3 

See Note 13, Strategic Transformation, Restructuring and Other Asset Gains, net of the Notes to Un