Company: ASTE
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000792987-25-000029
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Company: ASTEC INDUSTRIES INC
Filing Date: 2025-04-29
Form: 10-Q
Item: Part I, Item 1
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Item 1. Financial Statements (Unaudited)

ASTEC INDUSTRIES, INC.

Consolidated Balance Sheets

(In millions, except share and per share data, unaudited)

March 31, 2025December 31, 2024ASSETSCurrent assets:Cash, cash equivalents and restricted cash$92.6 $90.8 Investments2.8 3.0 Trade receivables, contract assets and other receivables, net of allowance for credit losses of $2.1 and $2.3, respectively172.6 167.2 Inventories434.9 422.7 Prepaid and refundable income taxes4.7 9.3 Prepaid expenses and other assets29.6 29.8 Total current assets737.2 722.8 Property and equipment, net of accumulated depreciation of $270.3 and $264.4, respectively180.5 181.9 Investments19.3 18.9 Goodwill25.1 25.0 Intangible assets, net of accumulated amortization of $56.5 and $55.3, respectively10.5 11.2 Deferred income tax assets46.6 45.8 Other long-term assets36.8 38.0 Total assets$1,056.0 $1,043.6 LIABILITIES AND EQUITYCurrent liabilities:Short-term debt$11.5 $13.3 Accounts payable91.6 79.2 Customer deposits72.3 77.3 Accrued product warranty17.8 16.1 Accrued employee related liabilities38.4 38.2 Accrued loss reserves1.3 1.7 Other current liabilities44.1 45.9 Total current liabilities277.0 271.7 Long-term debt96.0 105.0 Deferred income tax liabilities2.3 2.4 Other long-term liabilities27.6 26.9 Total liabilities402.9 406.0 Commitments and contingencies (Note 7)Shareholders' equity:Preferred stock – authorized 2,000,000 shares of $1.00 par value; none issued— — Common stock – authorized 40,000,000 shares of $0.20 par value; issued and outstanding – 22,840,087