Company: ASTE
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0000792987-25-000064
Chunk: 31

Company: ASTEC INDUSTRIES INC
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 31
---
2)$8.4 $(0.2)$8.9 Materials Solutions— — — 0.3 Corporate and Other— — — 0.2 Total restructuring related charges$(0.2)$8.4 $(0.2)$9.4 The net gains on sale of property and equipment by reportable segment are as follows:Three Months Ended September 30,Nine Months Ended September 30,(in millions)2025202420252024Infrastructure Solutions$— $— $— $(0.3)Materials Solutions— — (0.1)(0.8)Total gain on sale of property and equipment, net$— $— $(0.1)$(1.1)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.Management continually reviews the Company's organizational structure and operations to ensure they are optimized and aligned with achieving near-term and long-term operational and profitability targets. In connection with this review, the Company effected workforce reductions during the second quarter of 2024, whereby charges of $0.9 million were incurred and recorded in "Restructuring and other asset (gains) losses, net" in the Consolidated Statements of Operations.

Note 14. (Loss) Earnings Per Common Share

Basic (loss) earnings per common share is determined by dividing "Net (loss) income attributable to controlling interest" by the weighted average number of common shares outstanding during the reporting period. Diluted (loss) earnings per common share includes the dilutive effect of common stock equivalents, consisting of restricted stock units, performance stock units 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