Company: ASTE
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0000792987-25-000047
Chunk: 24

Company: ASTEC INDUSTRIES INC
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 24
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 assets," respectively, in the Consolidated Balance Sheets as of June 30, 2025. Net capitalized implementation costs totaled $31.9 million, of which $3.7 million and $28.2 million were included in "Prepaid expenses and other assets" and "Other long-term assets," respectively, in the Consolidated Balance Sheets as of December 31, 2024. Accumulated amortization associated with these capitalized implementation costs totaled $7.4 million and $5.5 million as of June 30, 2025 and December 31, 2024, respectively.

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Costs associated with these strategic transformation programs are presented below:Three Months Ended June 30,Six Months Ended June 30,(in millions)2025202420252024Strategic transformation programsSelling, general and administrative expenses$3.4 $11.0 $10.3 $17.4 Cost of sales— 0.2 0.1 0.3 Total costs related to strategic transformation initiatives$3.4 $11.2 $10.4 $17.7 Amortization of capitalized implementation costs (1)$1.0 $1.0 $1.9 $1.7 (1) Amortization of capitalized implementation costs is recorded in "Selling, general and administrative expenses" in the Consolidated Statements of Operations.In addition, the Company periodically sells or disposes of its assets in the normal course of its business operations as they are no longer needed or used and may incur gains or losses on these disposals. Certain of the costs associated with these decisions are separately identified as restructuring. The Company reports asset impairment charges, excluding goodwill impairment, and gains or losses on the sales of property and equipment collectively, with restructuring charges in "Restructuring and other asset gains, net" in the Consolidated Statements of Operations to the extent they are experienced. Restructuring charges and the gain on sale of property and equipment, net are presented below:Three Months Ended June 30,Six Months Ended June 30,(in millions)2025202420252024Restructuring charges:Costs associated with exited operations – Enid$— $— $— $0.1 Workforce reductions— 0.9 — 0.9 Total restructuring related charges— 0.9 — 1.0 Gain on sale of property and equipment