Company: ASTE
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000792987-25-000013
Chunk: 102

Company: ASTEC INDUSTRIES INC
Filing Date: 2025-02-26
Form: 10-K
Item: Item 1
Chunk 102
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 of the period, and revenues and costs are translated using average exchange rates in effect during the period. The resulting adjustments are presented as a separate component of "Accumulated other comprehensive loss". Foreign currency transaction gains and losses, net are included in "Other (expenses) income, net" and amounted to a loss of $1.0 million, a gain of $1.1 million and a loss of $0.4 million in 2024, 2023 and 2022, respectively.Earnings Per Share - Basic earnings per share is computed by dividing "Net income (loss) attributable to controlling interest" by the weighted average number of shares outstanding during the reported period. Deferred stock units are fully vested and, as such, are included in basic earnings per share. Diluted earnings per share includes the dilutive effect of common stock equivalents consisting of restricted stock units, performance stock units, related dividend equivalents and stock held in the Company's deferred compensation programs, using the treasury stock method. Potential common shares that have an antidilutive effect (i.e., those that increase income per share or decrease loss per share) are excluded from the calculation of diluted earnings per share. Performance stock units, which are considered contingently issuable, are considered dilutive when the related performance criterion has been met.The following table sets forth a reconciliation of the number of shares used in the computation of basic and diluted earnings per share:Years Ended December 31, 202420232022Denominator:Denominator for basic earnings per share22,799,071 22,719,900 22,790,717 Effect of dilutive securities:Restricted stock units24,644 31,847 — Unvested performance share units13,743 3,144 — Deferred compensation programs15,993 26,478 — Denominator for diluted earnings per share22,853,451 22,781,369 22,790,717 Antidilutive securities excluded from the calculation of diluted earnings per share26,710 7,495 255,738 Related Party Transactions - The Company had no material related party transactions during the years ended December 31, 2024, 2023 and 2022.

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Adjustments - During the first quarter of 2023, the Company identified immaterial errors associated with over-accruals of inventory-related expenses in its historical financial statements. The cumulative effect of the errors generated in 2021