Company: ASTE
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0000792987-25-000047
Chunk: 79

Company: ASTEC INDUSTRIES INC
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 8
Chunk 79
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 Company reached an agreement to resolve the matter styled 37 Building Products, Ltd. v. Telsmith, Inc., et al. for $6.3 million, which the Company paid that same month. Upon settlement, the full loss contingency of $8.2 million, inclusive of post-judgment interest, which was recorded as of June 30, 2024 was released. The $1.9 million net benefit derived from the loss contingency release offset by the final settlement amount was recorded in "Selling, general and administrative expenses" in the Consolidated Statements of Operations during the third quarter of 2024.In October 2024, the Company reached an agreement to resolve the action styled VenVer S.A. and Americas Coil Tubing LLP v. GEFCO, Inc. for $8.4 million, which was paid in the fourth quarter of 2024. In connection with this settlement, management recorded a loss in "Restructuring, impairment and other asset charges, net" in the Consolidated Statements of Operations during the third quarter of 2024.

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Note 9. Revenue Recognition

The following tables disaggregate the Company's revenue by major source for the three and six-month periods ended June 30, 2025 and 2024 (excluding intercompany sales):Three Months Ended June 30, 2025Three Months Ended June 30, 2024(in millions)Infrastructure SolutionsMaterials SolutionsTotalInfrastructure SolutionsMaterials SolutionsTotalNet Sales-Domestic:Equipment sales$120.9 $55.8 $176.7 $148.9 $44.7 $193.6 Parts and component sales52.7 19.5 72.2 47.2 20.4 67.6 Service and equipment installation revenue6.4 0.2 6.6 5.2 0.2 5.4 Used equipment sales— — — 0.1 — 0.1 Freight revenue5.9 1.5 7.4 5.3 1.7 7.0 Other0.6 (1.5)(0.9)0.5 (2.1)(1.6)Total domestic revenue186.5 75.5 262.0 207.2 64.9 272.1 Net Sales-International:Equipment sales14.0 31.5 45.5