Company: ASTE
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0000792987-25-000064
Chunk: 71

Company: ASTEC INDUSTRIES INC
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 8
Chunk 71
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ash goodwill impairment charge of $20.2 million in "Goodwill impairment" in the Consolidated Statements of Operations to fully impair the goodwill allocated to the Materials Solutions reporting unit.The Company completed the Acquisition during the three months ended September 30, 2025, which increased goodwill $85.1 million.The changes in the carrying amount of goodwill and accumulated impairment losses by reporting segment during the nine months ended September 30, 2025 and the year ended December 31, 2024 are as follows:(in millions)Infrastructure SolutionsMaterials SolutionsTotalBalance, December 31, 2023:Goodwill$48.0 $32.3 $80.3 Accumulated impairment losses(21.8)(12.2)(34.0)Net$26.2 $20.1 $46.3 2024 Activity:Foreign currency translation$(1.2)$0.1 $(1.1)Impairment— (20.2)(20.2)Total 2024 activity$(1.2)$(20.1)$(21.3)Balance, December 31, 2024:Goodwill$46.8 $32.2 $79.0 Accumulated impairment(21.8)(32.2)(54.0)Net$25.0 $— $25.0 2025 Activity:Foreign currency translation$0.6 $(0.3)$0.3 Acquisitions— 85.1 85.1 Total 2025 activity$0.6 $84.8 $85.4 Balance, September 30, 2025:Goodwill$47.4 $117.0 $164.4 Accumulated impairment(21.8)(32.2)(54.0)Net$25.6 $84.8 $110.4 

Note 6. Product Warranty Reserves

The Company warrants its products against manufacturing defects and performance to specified standards. The warranty period and performance standards vary by market and uses of its products, but generally range from three months to two years or up to a specified number of hours of operation. The Company estimates the costs that may be incurred under its warranties and 

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records a liability at the time product sales are recorded. The product warranty liability is primarily based on historical claim rates, nature of claims and the associated costs.Changes in the Company's product