Company: ASTE
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000792987-25-000013
Chunk: 107

Company: ASTEC INDUSTRIES INC
Filing Date: 2025-02-26
Form: 10-K
Item: Item 1
Chunk 107
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— $5.6 $5.6 

54

Table of Contents

6. Investments

The Company's trading securities consist of the following:December 31, 2024(in millions)Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value (Net Carrying Amount)Trading equity securities$5.5 $0.5 $— $6.0 Trading debt securities16.3 — 0.4 15.9 Total$21.8 $0.5 $0.4 $21.9 December 31, 2023(in millions)Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value (Net Carrying Amount)Trading equity securities$5.1 $0.2 $0.1 $5.2 Trading debt securities14.6 — 0.3 14.3 Total$19.7 $0.2 $0.4 $19.5 Trading equity investments are valued at their estimated fair value based on their quoted market prices, and trading debt securities are valued based upon a mix of observable market prices and model driven prices derived from a matrix of observable market prices for assets with similar characteristics obtained from a nationally recognized third-party pricing service. Additionally, a significant portion of the trading equity securities are in mutual funds and also comprise a portion of the Company's liability under its DCP. See Note 14, Employee Benefit Plans, for additional information on these investments and the DCP.Trading debt securities are comprised of marketable debt securities held by Astec Insurance. Astec Insurance has an investment strategy that focuses on providing regular and predictable interest income from a diversified portfolio of high-quality fixed income securities.

7. Goodwill

The Company tests goodwill for impairment annually on October 1, or more frequently should circumstances change or events occur that would more likely than not reduce the fair value of a reporting unit below its carrying value between annual impairment tests.Beginning January 1, 2024, Astec Digital, which was previously included in the Corporate and Other category, has been moved to the Infrastructure Solutions segment. As a result of this change in segment composition, the goodwill related to Astec Digital was allocated to another reporting unit within the Infrastructure Solutions segment.During the second quarter of 2024, the Company identified that indicators of goodwill impairment were present due to current macroeconomic conditions, including declines in the