Company: ASTE
Filing Date: 2025-06-25
Form Type: 11-K
Source: 0000792987-25-000038
Chunk: 5

Company: ASTEC INDUSTRIES INC
Filing Date: 2025-06-25
Form: 11-K
Chunk 5
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continue its contributions at any time and to terminate the Plan subject to the provisions of ERlSA. If the Plan is terminated or contributions are permanently discontinued, benefits will remain 100% vested and be distributed in accordance with the provisions of the Plan.

#### 2. Summary of Significant Accounting Policies

#### Basis of Presentation
The financial statements of the Plan are presented on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP").

#### Use of Estimates
The preparation of financial statements in accordance with U.S. GAAP requires Plan management to make estimates and assumptions that affect the amounts reported and disclosed in the financial statements and accompanying notes and supplemental schedules. Actual results could differ from those estimates.

#### Notes Receivable from Participants
Notes receivable from participants represent participant loans that are recorded at their unpaid principal balances plus any accrued but unpaid interest. Interest income on notes receivable from participants is recorded when it is earned. Related loan processing fees are deducted from loan proceeds at the inception of the loan. No allowance for credit losses has been recorded as of December 31, 2024 or 2023. If a participant ceases to make loan repayments and the Plan administrator determines the participant loan to be a deemed distribution, the recordkeeper provides the participant with the IRS required 1099R.

#### Investments
The Plan's investments are stated at fair value as described in Note 3.

Purchases and sales of securities are recorded on a trade date basis. Dividends are recorded on the ex-dividend date. Interest is recognized when earned. "Net appreciation in fair value of investments" includes the Plan's gains and losses on investments bought and sold as well as held during the year.

#### 3. Fair Value Measurements
Fair value is defined as the price that would be received upon sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (i.e. an exit price). The fair value hierarchy prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets and liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy are described below:

| Level 1 - |     | Unadjusted quoted prices in active markets for identical assets or liabilities.                                                                                                                                                                                             |
| Level 2 - |     | Unadjusted quoted prices in active markets for similar assets or