ASTEC INDUSTRIES INC

For the period ended Dec 31, 2024. Filed Feb 26, 2025.

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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2024 · Filed Feb 26, 2025

ASTE$36.95-1.8%Stored close · as of Nov 10, 2026

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Contents

Item 8. Consolidated Statements of Cash Flows

	Years Ended December 31,
	2024	2023	2022
Cash flows from operating activities
Net income (loss)	$4.1	$33.7	$(0.6)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	26.8	25.6	27.9
Provision for credit losses	0.6	1.6	1.2
Provision for warranties	18.6	17.6	12.6
Deferred compensation benefit	(0.1)	(0.1)	(0.9)
Share-based compensation	5.0	4.1	6.8
Deferred tax benefit	(6.8)	(6.4)	(17.1)
Gain on disposition of property and equipment, net	(1.1)	(3.1)	(0.7)
Goodwill impairment	20.2	—	—
Other impairment charges	—	1.2	3.5
Amortization of debt issuance costs	0.3	0.3	—
Distributions to deferred compensation programs' participants	(1.1)	(1.8)	(1.0)
Change in operating assets and liabilities, excluding the effects of acquisitions:
(Purchase) sale of trading securities, net	(1.5)	(0.3)	0.7
Receivables and other contract assets	(20.6)	20.5	(28.0)
Inventories	27.4	(63.0)	(96.4)
Prepaid expenses	(3.5)	2.2	(2.8)
Other assets	(0.9)	(12.8)	(16.2)
Accounts payable	(35.9)	7.7	25.5
Accrued loss reserves	(0.9)	1.4	(0.1)
Accrued employee related liabilities	(5.4)	8.7	4.3
Other accrued liabilities	(2.0)	(0.8)	2.6
Accrued product warranty	(18.9)	(13.1)	(11.1)
Customer deposits	7.6	1.0	9.9
Income taxes payable/prepaid	11.1	3.6	6.0
Net cash provided by (used in) operating activities	23.0	27.8	(73.9)
Cash flows from investing activities:
Acquisitions, net of cash acquired	—	—	(17.8)
Expenditures for property and equipment	(20.5)	(34.1)	(40.7)
Proceeds from sale of property and equipment	2.3	20.3	5.7
Proceeds from insurance	0.4	—	—
Purchase of investments	(1.1)	(1.0)	(1.0)
Sale of investments	0.9	1.9	0.6
Net cash used in investing activities	(18.0)	(12.9)	(53.2)

(Continued)

	Years Ended December 31,
	2024	2023	2022
Cash flows from financing activities:
Payment of dividends	(11.9)	(11.8)	(11.2)
Proceeds from borrowings on credit facilities and bank loans	215.6	240.6	223.0
Repayments of borrowings on credit facilities and bank loans	(179.2)	(245.8)	(138.5)
Payment of debt issuance costs	—	—	(1.5)
Sale of Company stock by deferred compensation programs, net	0.4	0.3	0.2
Withholding tax paid upon vesting of share-based compensation awards	(0.5)	(1.6)	(1.8)
Repurchase of Company stock	—	—	(10.1)
Net cash provided by (used in) financing activities	24.4	(18.3)	60.1
Effect of exchange rates on cash	(1.8)	0.6	(1.4)
Increase (decrease) in cash and cash equivalents and restricted cash	27.6	(2.8)	(68.4)
Cash, cash equivalents and restricted cash, beginning of period	63.2	66.0	134.4
Cash, cash equivalents and restricted cash, end of period	$90.8	$63.2	$66.0
Supplemental Cash Flow Information
Cash paid during the year for:
Interest	$8.5	$7.0	$1.1
Income taxes paid, net	$8.2	$13.8	$17.7
Supplemental disclosures of non-cash items
Non-cash investing activities:
Capital expenditures in accounts payable	$1.0	$1.5	$1.5
Non-cash financing activities:
Additions to right-of-use assets and lease liabilities	$2.4	$0.8	$7.3

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.