Company: ASTE
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000792987-25-000013
Chunk: 269

Company: ASTEC INDUSTRIES INC
Filing Date: 2025-02-26
Form: 10-K
Item: Item 1
Chunk 269
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4 0.6 Research and development tax credits(2.8)(2.8)(3.3)Impact of uncertain tax positions(0.5)1.0 1.2 Valuation allowance impact1.7 0.3 6.0 Changes in tax rates0.7 0.8 0.2 Share-based compensation0.1 0.6 0.4 Foreign-derived intangible income deduction(0.4)(0.7)(0.9)Foreign tax credit(0.4)(0.5)(0.2)Goodwill impairment2.9 — — Other items1.7 1.1 0.1 Total income tax provision$9.8 $9.1 $5.0 

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Table of Contents

Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company's deferred tax assets and liabilities are as follows:December 31,(in millions)20242023Deferred tax assets:Amortization of research and experimental expenditures$30.7 $24.7 Inventory reserves7.6 5.8 Warranty reserves3.7 3.7 Credit loss reserves0.5 0.8 State tax loss carryforwards11.5 11.5 Accrued vacation1.4 1.2 Deferred compensation1.0 1.1 Share-based compensation1.3 2.6 Goodwill2.8 1.7 Foreign net operating loss8.3 7.9 Lease obligation1.6 1.3 Employee & insurance accruals3.1 1.0 Domestic credit carryforwards1.5 1.5 Uncertain tax provision reserve1.1 0.2 Deferred revenue0.9 2.2 Valuation allowances(12.4)(12.5)Total deferred tax assets64.6 54.7 Deferred tax liabilities:Property and equipment15.8 14.0 Intangibles0.9 1.8 Right-of-use assets1.5 1.3 Post-retirement benefits0.8 0.5 Other2.2 0.7 Total deferred tax liabilities21.2 18.3