Company: ASTE
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000792987-25-000029
Chunk: 2

Company: ASTEC INDUSTRIES INC
Filing Date: 2025-04-29
Form: 10-Q
Item: Part I, Item 1
Chunk 2
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24Net income$14.3 $3.3 Other comprehensive income (loss):Foreign currency translation adjustments3.1 (4.4)Other comprehensive income (loss)3.1 (4.4)Comprehensive income (loss)17.4 (1.1)Comprehensive (income) loss attributable to noncontrolling interest(0.1)0.1 Comprehensive income (loss) attributable to controlling interest$17.3 $(1.0)

The accompanying notes are an integral part of these unaudited consolidated financial statements.

3

ASTEC INDUSTRIES, INC.

Consolidated Statements of Cash Flows

(In millions, unaudited)

Three Months Ended March 31,20252024Cash flows from operating activities:Net income$14.3 $3.3 Adjustments to reconcile net income to net cash provided by (used in) operating activities:Depreciation and amortization6.4 6.5 Provision for credit losses(0.1)0.1 Provision for warranties6.2 4.2 Deferred compensation expense— 0.1 Share-based compensation1.7 1.2 Deferred tax benefit(1.0)(2.0)Gain on sale of property and equipment, net— (0.9)Amortization of debt issuance costs0.1 0.1 Change in operating assets and liabilities:Sale (purchase) of trading securities, net0.2 (2.2)Receivables and other contract assets(3.9)(39.1)Inventories(10.9)(30.6)Prepaid expenses0.8 0.6 Other assets0.7 (4.0)Accounts payable12.6 2.5 Accrued loss reserves— (0.3)Accrued employee related liabilities— (7.8)Other accrued liabilities(2.7)12.2 Accrued product warranty(4.6)(4.5)Customer deposits(5.1)10.1 Income taxes payable/prepaid5.8 3.5 Net cash provided by (used in) operating activities20.5 (47.0)Cash flows from investing activities:Expenditures for property and equipment(3.9)(5.8)Proceeds from sale of property and equipment— 0.4 Purchase of