Company: ASTE
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000792987-25-000013
Chunk: 262

Company: ASTEC INDUSTRIES INC
Filing Date: 2025-02-26
Form: 10-K
Item: Item 1
Chunk 262
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.4 $32.0 $9.4 $42.3 $29.8 $12.5 Trade names10.3 10.3 — 10.3 10.2 0.1 Other14.8 13.0 1.8 15.1 11.3 3.8 Total$66.5 $55.3 $11.2 $67.7 $51.3 $16.4 Amortization expense on intangible assets was $4.8 million, $5.5 million and $8.5 million for 2024, 2023 and 2022, respectively. 

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Future annual expected amortization expense on intangible assets as of December 31, 2024 are as follows (in millions):2025$2.7 20262.2 20271.9 20281.7 20291.0 2030 and thereafter1.7 

9. Property and Equipment

Property and equipment at cost, less accumulated depreciation, is as follows:December 31,(in millions)20242023Land$12.3 $12.7 Building and land improvements158.8 149.1 Construction in progress3.9 20.3 Manufacturing and office equipment266.7 249.0 Aviation equipment4.6 4.6 Less accumulated depreciation(264.4)(248.1)Total$181.9 $187.6 Depreciation expense was $22.0 million, $20.1 million and $19.4 million for the years ended December 31, 2024, 2023 and 2022, respectively.

10. Leases

The Company records its operating lease ROU assets in "Other long-term assets" and its operating lease liabilities in "Other current liabilities" and "Other long-term liabilities". As of December 31, 2024 and 2023, the Company did not have any finance leases.Additional information related to the Company’s operating leases is reflected in the tables below:Years Ended December 31, (in millions)202420232022Operating lease expense$3.2 $3.6 $2.8 Short-term lease expense3.1 2.5 2.9 Cash paid for operating leases included in operating cash flows3.2