Astec Industries (ASTE) 10-Q2 Nov 232023 Q3 Quarterly reportFinancial data

Company Profile

Cover Page

Cover Page - shares	9 Months Ended
Cover Page - shares	Sep. 30, 2023	Oct. 27, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
Document Transition Report	false
Entity File Number	001-11595
Entity Registrant Name	Astec Industries, Inc.
Entity Incorporation, State or Country Code	TN
Entity Tax Identification Number	62-0873631
Entity Address, Address Line One	1725 Shepherd Road
Entity Address, City or Town	Chattanooga
Entity Address, State or Province	TN
Entity Address, Postal Zip Code	37421
City Area Code	423
Local Phone Number	899-5898
Title of 12(b) Security	Common Stock
Trading Symbol	ASTE
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		22,739,296
Entity Central Index Key	0000792987
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Current assets:
Cash, cash equivalents and restricted cash	$ 73.8	$ 66
Investments	5.7	3.9
Trade receivables and contract assets, net of allowance for credit losses of $2.5 and $2.3, respectively	174.7	167.1
Other receivables, net of allowance for credit losses of $0.7, respectively	3.4	6.5
Inventories	450.1	393.4
Prepaid and refundable income taxes	17.3	15.9
Prepaid expenses and other assets	21.3	28.2
Assets held for sale	0	15.4
Total current assets	746.3	696.4
Property and equipment, net of accumulated depreciation of $243.2 and $233.8, respectively	181	173.6
Investments	14.3	15.1
Goodwill	45.3	45.2
Intangible assets, net of accumulated amortization of $49.3 and $45.1, respectively	17.5	22.5
Deferred income tax assets	34.2	32.1
Other long-term assets	35.8	29.5
Total assets	1,074.4	1,014.4
Current liabilities:
Current maturities of long-term debt	0.1	0.2
Short-term debt	6.9	9.4
Accounts payable	114.3	107.2
Customer deposits	60.6	69.5
Accrued product warranty	16.7	11.9
Accrued employee related liabilities	44.4	35.3
Accrued loss reserves	2.9	1.9
Other current liabilities	36.3	38.6
Total current liabilities	282.2	274
Long-term debt	122	78.1
Deferred income tax liabilities	2.4	2.1
Other long-term liabilities	33	33.3
Total liabilities	439.6	387.5
Commitments and contingencies (Note 8)
Shareholders' equity:
Preferred stock – authorized 2,000,000 shares of $1.00 par value; none issued	0	0
Common stock – authorized 40,000,000 shares of $0.20 par value; issued and outstanding – 22,739,296 as of September 30, 2023 and 22,624,031 as of December 31, 2022	4.5	4.5
Additional paid-in capital	137.7	135.8
Accumulated other comprehensive loss	(44.2)	(40.1)
Company stock held by deferred compensation programs, at cost	(1)	(1.1)
Retained earnings	537.5	527.8
Shareholders' equity	634.5	626.9
Noncontrolling interest	0.3	0
Total equity	634.8	626.9
Total liabilities and equity	$ 1,074.4	$ 1,014.4

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Allowance for credit loss	$ 2.5	$ 2.3
Allowance for credit loss, receivable, other, current	0.7	0.7
Accumulated depreciation	243.2	233.8
Accumulated amortization	$ 49.3	$ 45.1
Preferred stock, shares authorized	2,000,000	2,000,000
Preferred stock, par value (in dollars per share)	$ 1	$ 1
Preferred stock, shares issued	0	0
Common stock, shares authorized	40,000,000	40,000,000
Common stock, par value (in dollars per share)	$ 0.20	$ 0.20
Common stock, shares issued	22,739,296	22,624,031
Common stock, shares outstanding	22,739,296	22,624,031

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Statement [Abstract]
Net sales	$ 303.1	$ 315.2	$ 1,001	$ 924.6
Cost of sales	233.5	249.7	759.3	731.5
Gross profit	69.6	65.5	241.7	193.1
Selling, general and administrative expenses	74.3	63.5	206.7	184.4
Restructuring, impairment and other asset charges, net	0.5	0.1	5.3	4.5
(Loss) income from operations	(5.2)	1.9	29.7	4.2
Other expenses, net:
Interest expense	(2.4)	(0.6)	(6.4)	(1.6)
Interest income	0.5	0.3	1.5	0.7
Other (expenses) income, net	0	(0.4)	0.5	(1.8)
(Loss) income before income taxes	(7.1)	1.2	25.3	1.5
Income tax (benefit) provision	(0.6)	0.7	6.5	0.8
Net (loss) income	(6.5)	0.5	18.8	0.7
Net (income) loss attributable to noncontrolling interest	(0.1)	0.2	(0.2)	0.2
Net (loss) income attributable to controlling interest	$ (6.6)	$ 0.7	$ 18.6	$ 0.9
Per share data:
(Loss) earnings per common share - Basic (in dollars per share)	$ (0.29)	$ 0.03	$ 0.82	$ 0.04
(Loss) earnings per common share - Diluted (in dollars per share)	$ (0.29)	$ 0.03	$ 0.82	$ 0.04
Weighted average shares outstanding - Basic	22,746,783	22,837,314	22,709,238	22,824,028
Weighted average shares outstanding - Diluted	22,746,783	22,916,316	22,776,158	22,932,206

Consolidated Statements of Comp

Consolidated Statements of Comprehensive (Loss) Income - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (6.5)	$ 0.5	$ 18.8	$ 0.7
Other comprehensive loss:
Foreign currency translation adjustments	(4.6)	(9.2)	(4)	(13.5)
Other comprehensive loss	(4.6)	(9.2)	(4)	(13.5)
Comprehensive (loss) income	(11.1)	(8.7)	14.8	(12.8)
Comprehensive (income) loss attributable to noncontrolling interest	(0.1)	0.2	(0.3)	0.1
Comprehensive (loss) income attributable to controlling interest	$ (11.2)	$ (8.5)	$ 14.5	$ (12.7)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash flows from operating activities:
Net (loss) income	$ 18.8	$ 0.7
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization	19.6	20.9
Provision for credit losses	0.6	0.9
Provision for warranties	14.4	9.3
Deferred compensation expense (benefit)	0.2	(1.1)
Share-based compensation	3.5	5.4
Deferred tax benefit	(2.1)	(12.6)
Loss (gain) on sale of property and equipment, net	(3.1)	(0.4)
Asset impairment charges	0.8	3.4
Amortization of debt issuance costs	0.2	0
Distributions to deferred compensation programs' participants	(1.5)	(0.9)
Change in operating assets and liabilities:
Purchase of trading securities, net	(1.4)	(0.7)
Receivables and other contract assets	(5.8)	(25)
Inventories	(59.7)	(98.9)
Prepaid expenses	8.3	0.9
Other assets	(9.6)	(10.3)
Accounts payable	7.1	25.3
Accrued loss reserves	1.2	0.3
Accrued employee related liabilities	9.3	10
Other accrued liabilities	(0.8)	1.7
Accrued product warranty	(9.6)	(8.6)
Customer deposits	(8.2)	21.1
Income taxes payable/prepaid	(1)	1.8
Net cash used in operating activities	(18.8)	(56.8)
Cash flows from investing activities:
Acquisitions, net of cash acquired	0	(17.8)
Expenditures for property and equipment	(25)	(27.6)
Proceeds from sale of property and equipment	20.2	0.7
Purchase of investments	(0.8)	(0.8)
Sale of investments	1.7	0.5
Net cash used in investing activities	(3.9)	(45)
Cash flows from financing activities:
Payment of dividends	(8.9)	(8.3)
Proceeds from borrowings on credit facilities and bank loans	221.4	50.1
Repayments of borrowings on credit facilities and bank loans	(180.2)	(42.5)
Sale of Company stock by deferred compensation programs, net	0.1	0.2
Withholding tax paid upon vesting of share-based compensation awards	(1.6)	(1.8)
Repurchase of Company stock	0	(6.1)
Net cash provided by (used in) financing activities	30.8	(8.4)
Effect of exchange rates on cash	(0.3)	(3.4)
Increase (decrease) in cash, cash equivalents and restricted cash	7.8	(113.6)
Cash, cash equivalents and restricted cash, beginning of period	66	134.4
Cash, cash equivalents and restricted cash, end of period	73.8	20.8
Cash paid during the year for:
Interest, net of capitalized interest	5	0.7
Income taxes paid	10.3	12.3
Non-cash investing activities:
Capital expenditures in accounts payable	0.4	1.2
Non-cash financing activities:
Additions to right-of-use assets and lease liabilities	$ 0.6	$ 2.8

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($) $ in Millions	Total	Common Stock	Additional Paid-in-Capital	Accumulated Other Comprehensive Loss	Company Shares Held by DCP	Retained Earnings	Noncontrolling Interest
Balance (in shares) at Dec. 31, 2021		22,767,052
Balance at Dec. 31, 2021	$ 651.3	$ 4.5	$ 130.6	$ (32.4)	$ (1.2)	$ 549.3	$ 0.5
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	4.1					4.1
Other comprehensive income (loss)	4.2			4.1			0.1
Dividends	(2.8)					(2.8)
Share-based compensation	1.8		1.8
Issuance of common stock under incentive plan (in shares)		69,995
Issuance of common stock under incentive plan	0.1	$ 0.1
Withholding tax paid upon equity award vesting	(1.3)		(1.3)
Balance (in shares) at Mar. 31, 2022		22,837,047
Balance at Mar. 31, 2022	657.4	$ 4.6	131.1	(28.3)	(1.2)	550.6	0.6
Balance (in shares) at Dec. 31, 2021		22,767,052
Balance at Dec. 31, 2021	651.3	$ 4.5	130.6	(32.4)	(1.2)	549.3	0.5
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	0.7
Other comprehensive income (loss)	(13.5)
Balance (in shares) at Sep. 30, 2022		22,710,427
Balance at Sep. 30, 2022	628.1	$ 4.5	134.4	(46)	(1.1)	535.9	0.4
Balance (in shares) at Mar. 31, 2022		22,837,047
Balance at Mar. 31, 2022	657.4	$ 4.6	131.1	(28.3)	(1.2)	550.6	0.6
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(3.9)					(3.9)
Other comprehensive income (loss)	(8.5)			(8.5)
Dividends	(2.6)		0.1			(2.7)
Share-based compensation	1.6		1.6
Issuance of common stock under incentive plan (in shares)		27,482
Withholding tax paid upon equity award vesting	(0.3)		(0.3)
Deferred compensation programs' transactions, net	0.2		0.1		0.1
Balance (in shares) at Jun. 30, 2022		22,864,529
Balance at Jun. 30, 2022	643.9	$ 4.6	132.6	(36.8)	(1.1)	544	0.6
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	0.5					0.7	(0.2)
Other comprehensive income (loss)	(9.2)			(9.2)
Dividends	(2.8)					(2.8)
Share-based compensation	2		2
Issuance of common stock under incentive plan (in shares)		6,343
Withholding tax paid upon equity award vesting	(0.2)		(0.2)
Share repurchases (in shares)		(160,445)
Share repurchases	(6.1)	$ (0.1)				(6)
Balance (in shares) at Sep. 30, 2022		22,710,427
Balance at Sep. 30, 2022	$ 628.1	$ 4.5	134.4	(46)	(1.1)	535.9	0.4
Balance (in shares) at Dec. 31, 2022	22,624,031	22,624,031
Balance at Dec. 31, 2022	$ 626.9	$ 4.5	135.8	(40.1)	(1.1)	527.8	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	12.1					12.1
Other comprehensive income (loss)	0.1						0.1
Dividends	(2.9)					(2.9)
Share-based compensation	0.8		0.8
Issuance of common stock under incentive plan (in shares)		66,536
Withholding tax paid upon equity award vesting	(1.4)		(1.4)
Balance (in shares) at Mar. 31, 2023		22,690,567
Balance at Mar. 31, 2023	$ 635.6	$ 4.5	135.2	(40.1)	(1.1)	537	0.1
Balance (in shares) at Dec. 31, 2022	22,624,031	22,624,031
Balance at Dec. 31, 2022	$ 626.9	$ 4.5	135.8	(40.1)	(1.1)	527.8	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	18.8
Other comprehensive income (loss)	$ (4)
Balance (in shares) at Sep. 30, 2023	22,739,296	22,739,296
Balance at Sep. 30, 2023	$ 634.8	$ 4.5	137.7	(44.2)	(1)	537.5	0.3
Balance (in shares) at Mar. 31, 2023		22,690,567
Balance at Mar. 31, 2023	635.6	$ 4.5	135.2	(40.1)	(1.1)	537	0.1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	13.2					13.1	0.1
Other comprehensive income (loss)	0.5			0.5
Dividends	(3)					(3)
Share-based compensation	1.4		1.4
Issuance of common stock under incentive plan (in shares)		46,003
Withholding tax paid upon equity award vesting	(0.2)		(0.2)
Balance (in shares) at Jun. 30, 2023		22,736,570
Balance at Jun. 30, 2023	647.5	$ 4.5	136.4	(39.6)	(1.1)	547.1	0.2
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(6.5)					(6.6)	0.1
Other comprehensive income (loss)	(4.6)			(4.6)
Dividends	(3)					(3)
Share-based compensation	1.3		1.3
Issuance of common stock under incentive plan (in shares)		2,726
Deferred compensation programs' transactions, net	$ 0.1		0		0.1
Balance (in shares) at Sep. 30, 2023	22,739,296	22,739,296
Balance at Sep. 30, 2023	$ 634.8	$ 4.5	$ 137.7	$ (44.2)	$ (1)	$ 537.5	$ 0.3

Consolidated Statements of Eq_2

Consolidated Statements of Equity (Parenthetical) - $ / shares	3 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022
Statement of Stockholders' Equity [Abstract]
Dividends declared per common share (in dollars per share)	$ 0.13	$ 0.13	$ 0.13	$ 0.12	$ 0.12	$ 0.12

Basis of Presentation and Signi

Basis of Presentation and Significant Accounting Policies	9 Months Ended
Basis of Presentation and Significant Accounting Policies	Sep. 30, 2023
Accounting Policies [Abstract]
Basis of Presentation and Significant Accounting Policies	Basis of Presentation and Significant Accounting Policies Description of Business Astec Industries, Inc. ("Astec" or the "Company") is a Tennessee corporation which was incorporated in 1972. The Company designs, engineers, manufactures and markets equipment and components used primarily in road building and related construction activities, as well as other products discussed below. The Company's products are used in each phase of road building, from quarrying and crushing the aggregate to application of the road surface. The Company also manufactures certain equipment and components unrelated to road construction, including equipment for the mining, quarrying, construction and demolition industries and port and rail yard operators; industrial heat transfer equipment; commercial whole-tree pulpwood chippers; horizontal grinders; blower trucks; concrete plants; commercial and industrial burners; and combustion control systems. The Company operates in two reportable segments (plus Corporate and Other) - Infrastructure Solutions and Materials Solutions. The Company's two reportable business segments comprise sites based upon the nature of the products or services produced, the type of customer for the products, the similarity of economic characteristics, the manner in which management reviews results and the nature of the production process, among other considerations. The Corporate and Other category consists primarily of the parent company, Astec Insurance Company ("Astec Insurance" or the "captive"), a captive insurance company, and the controls and automation business, which do not meet the requirements for separate disclosure as an operating segment or inclusion in one of the other reporting segments. Basis of Presentation The accompanying unaudited consolidated financial statements include the accounts of Astec and its subsidiaries and have been prepared by the Company, pursuant to the rules and regulations of the U.S. Securities and Exchange Commission ("SEC"). The Company prepares its financial statements in accordance with accounting principles generally accepted in the U.S. ("U.S. GAAP"). Certain information and footnote disclosures normally included in annual consolidated financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to the SEC rules and regulations governing interim financial statements. However, the Company believes that the disclosures made in the unaudited consolidated financial statements and related notes are adequate to make the information presented not misleading. These consolidated financial statements should be read in conjunction with the Company's audited consolidated financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2022. All intercompany balances and transactions between the Company and its affiliates have been eliminated in consolidation. Noncontrolling interest in the Company's consolidated financial statements represents the 7% interest in a consolidated subsidiary which is not owned by the Company. Since the Company controls this subsidiary, the subsidiary's financial statements are consolidated with those of the Company, and the noncontrolling owner's 7% share of the subsidiary's net assets and results of operations is deducted and reported as "Noncontrolling interest" in the Consolidated Balance Sheets and as "Net (income) loss attributable to noncontrolling interest" in the Consolidated Statements of Operations. The Company executed an agreement in February 2022 with the noncontrolling interest holder, which is undergoing a judicial reorganization in Brazil, to acquire their outstanding interest in full for R$10.0M (approximately $2.0 million, subject to the effect of exchange rates). Completion of the transaction is subject to obtaining certain judicial approval in Brazil. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported and disclosed in the consolidated financial statements and accompanying notes. Significant items subject to such estimates and assumptions include excess and obsolete inventory, inventory net realizable value, product warranty obligations, self-insurance loss reserves, capitalization of internal use software, goodwill impairment and the measurement of income tax assets and liabilities. The Company bases its estimates on historical experience and on various other assumptions that the Company believes to be reasonable under the circumstances. On an ongoing basis, the Company evaluates these assumptions, judgments and estimates. Actual results could differ from those estimates. In the opinion of management, the consolidated financial statements contain all adjustments necessary for a fair statement of the results of operations and comprehensive (loss) income for the three and nine months ended September 30, 2023 and 2022, the financial position as of September 30, 2023 and December 31, 2022 and the cash flows for the nine months ended September 30, 2023 and 2022, and except as otherwise discussed herein, such adjustments consist only of those of a normal recurring nature. The interim results are not necessarily indicative of results that may be achieved in a full reporting year. All dollar amounts, except share and per share amounts, are in millions of dollars unless otherwise indicated. Reclassifications and Adjustments Certain reclassifications have been made to the prior period financial information to conform to the presentation used in the financial statements for the nine months ended September 30, 2023. • The Company elected to present research and development expenses in "Selling, general and administrative expenses". These amounts were previously included in a separate financial statement caption in the Consolidated Statements of Operations. • The Company reclassified certain accrued liability balances from "Other current liabilities" to "Accrued employee related liabilities" to more appropriately reflect the nature of such accrued balances. • The Company elected to present gains and losses recognized on the change in fair value of derivative instruments and foreign currency transaction gains and losses, net in "Other (expenses) income, net". These amounts were previously included in "Cost of sales". There was no change to previously reported "Total current liabilities" or "Net (loss) income attributable to controlling interest" related to these reclassifications. 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 and 2022 was corrected during the first quarter of 2023, resulting in a decrease in "Cost of sales" of $1.9 million. Such adjustment was not considered material to the Company's consolidated financial statements for the year ended December 31, 2022 or any of the financial statements for the previously filed annual periods. Recently Adopted Accounting Pronouncements In October 2021, the Financial Accounting Standards Board issued Accounting Standards Update ("ASU") 2021-08, "Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers", which requires entities to recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with ASU 2014-09, Revenue from Contracts with Customers (Topic 606). The update will generally result in an entity recognizing contract assets and contract liabilities at amounts consistent with those recorded by the acquiree immediately before the acquisition date rather than at fair value. The new standard is effective on a prospective basis for fiscal years beginning after December 15, 2022, with early adoption permitted. The Company elected to early adopt this guidance on April 1, 2022. The adoption of this new standard did not have a material impact on its financial position, results of operations, cash flows or disclosures. Recent accounting guidance not discussed above is not applicable, did not have, or is not expected to have a material impact on the Company.

Acquisition

Acquisition	9 Months Ended
Acquisition	Sep. 30, 2023
Business Combination and Asset Acquisition [Abstract]
Acquisition	Acquisition MINDS Acquisition - The Company entered into a Share Purchase Agreement, dated as of March 22, 2022, by and between MINDS Automation Group, Inc., a leader in plant automation control systems and cloud-based data management in the asphalt industry in Canada. The acquisition was completed on April 1, 2022 at a purchase price of $19.3 million, which was paid in cash. The Company's allocation of the purchase price resulted in the recognition of $9.3 million of goodwill and $9.3 million of intangible assets primarily consisting of customer relationships (9 year life) and developed technology (7 year life). Significant inputs and assumptions used in determining the fair values of these intangible assets include management's forecasts of future revenues, earnings and cash flows, a discount rate based on the median weighted average cost of capital of the Company and select market competitors, and the proportion of intangible assets acquired in relation to tangible assets. Goodwill acquired is attributable to future growth opportunities provided by the acquired intellectual capital and the ability to generate cross-selling synergies. The acquisition provides the Company with a broader line of controls and automation products designed to deliver enhanced productivity through improved equipment performance. Results of operations have been consolidated from the date of acquisition. The goodwill is not deductible for income tax purposes. Proforma financial information is not included since not significant. Acquisition and integration costs incurred were nominal during the three and nine months ended September 30, 2023 for this acquisition. Acquisition and integration costs incurred were $0.2 million and $1.1 million during the three and nine months ended September 30, 2022, respectively. These costs are recorded in "Selling, general and administrative expenses" in the Consolidated Statements of Operations. The following table summarizes the allocations of the total purchase price: (in millions) Amount Cash $ 1.5 Trade receivables 2.7 Inventories 0.7 Prepaid expenses and other assets 0.4 Property and equipment 0.2 Goodwill 9.3 Intangible assets 9.3 Other long-term assets 0.5 Total assets acquired $ 24.6 Accounts payable (0.7) Accrued payroll and related liabilities (0.8) Other current liabilities (1.1) Deferred income tax liabilities (2.4) Other long-term liabilities (0.3) Total liabilities assumed (5.3) Total purchase price $ 19.3

Inventories

Inventories	9 Months Ended
Inventories	Sep. 30, 2023
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories are valued at the lower of cost (first-in, first-out) or net realizable value, which requires the Company to make specific estimates, assumptions and judgments in determining the amount, if any, of reductions in the valuation of inventories to their net realizable values. Inventories consist of the following: (in millions) September 30, 2023 December 31, 2022 Raw materials and parts $ 313.1 $ 302.9 Work-in-process 78.0 57.3 Finished goods 57.4 32.1 Used equipment 1.6 1.1 Total $ 450.1 $ 393.4

Fair Value Measurements

Fair Value Measurements	9 Months Ended
Fair Value Measurements	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The Company has various financial instruments that must be measured at fair value on a recurring basis, including marketable debt and equity securities held by Astec Insurance and marketable equity securities held in the Company's deferred compensation programs. The Company's deferred compensation programs ("DCP") include a non-qualified Supplemental Executive Retirement Plan ("SERP") and a separate non-qualified Deferred Compensation Plan. Although the deferred compensation programs' investments are allocated to individual participants, and investment decisions are made solely by those participants, they are non-qualified plans. Consequently, the Company owns the assets and the related offsetting liability for disbursement until such time as a participant makes a qualifying withdrawal. The SERP assets and related offsetting liability are recorded in non-current "Investments" and "Other long-term liabilities", respectively, in the Consolidated Balance Sheets. The Company's subsidiaries also occasionally enter into foreign currency exchange contracts to mitigate exposure to fluctuations in currency exchange rates. The carrying amount of cash and cash equivalents, trade receivables and contract assets, other receivables, accounts payable, and short-term and long-term debt approximates their fair value because of their short-term nature and/or interest rates associated with the instruments. Investments are carried at their fair value based on quoted market prices for identical or similar assets or, where no quoted prices exist, other observable inputs for the asset. The fair values of foreign currency exchange contracts are based on quotations from various banks for similar instruments using models with market-based inputs. Financial assets and liabilities are categorized based upon the level of judgment associated with the inputs used to measure their fair value. The inputs used to measure the fair value are identified in the following hierarchy: Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 - Unadjusted quoted prices in active markets for similar assets or liabilities; or unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active; or inputs other than quoted prices that are observable for the asset or liability. Level 3 - Inputs reflect management's best estimate of what market participants would use in pricing the asset or liability at the measurement date. Consideration is given to the risk inherent in the valuation technique and the risk inherent in the inputs to the model. As indicated in the tables below, the Company has determined that all of its financial assets and liabilities as of September 30, 2023 and December 31, 2022 are Level 1 and Level 2 in the fair value hierarchy as defined above: September 30, 2023 (in millions) Level 1 Level 2 Total Financial assets: Trading equity securities: Deferred compensation programs' mutual funds $ 4.0 $ — $ 4.0 Preferred stocks 0.3 — 0.3 Equity funds 0.6 — 0.6 Trading debt securities: Corporate bonds 4.0 — 4.0 Municipal bonds — 0.3 0.3 Agency bonds — 2.5 2.5 Floating rate notes 0.2 — 0.2 U.S. government securities 1.9 — 1.9 Asset-backed securities — 4.3 4.3 Other 1.3 0.6 1.9 Derivative financial instruments — 0.2 0.2 Total financial assets $ 12.3 $ 7.9 $ 20.2 Financial liabilities: Deferred compensation programs' liabilities $ — $ 5.7 $ 5.7 Total financial liabilities $ — $ 5.7 $ 5.7 December 31, 2022 (in millions) Level 1 Level 2 Total Financial assets: Trading equity securities: Deferred compensation programs' mutual funds $ 4.4 $ — $ 4.4 Preferred stocks 0.3 — 0.3 Equity funds 0.6 — 0.6 Trading debt securities: Corporate bonds 5.0 — 5.0 Municipal bonds — 0.3 0.3 Floating rate notes 0.2 — 0.2 U.S. government securities 0.8 — 0.8 Asset-backed securities — 5.4 5.4 Other 1.3 0.7 2.0 Total financial assets $ 12.6 $ 6.4 $ 19.0 Financial liabilities: Deferred compensation programs' liabilities $ — $ 5.7 $ 5.7 Total financial liabilities $ — $ 5.7 $ 5.7

Product Warranty Reserves

Product Warranty Reserves	9 Months Ended
Product Warranty Reserves	Sep. 30, 2023
Product Warranties Disclosures [Abstract]
Product Warranty Reserves	Product Warranty Reserves The Company warrants its products against manufacturing defects and performance to specified standards. The warranty period and performance standards vary by market and uses of its products, but generally range from three months to two years or up to a specified number of hours of operation. The Company estimates the costs that may be incurred under its warranties and records a liability at the time product sales are recorded. The product warranty liability is primarily based on historical claim rates, nature of claims and the associated cost. Changes in the Company's product warranty liability for the three and nine month periods ended September 30, 2023 and 2022 are as follows: Three Months Ended September 30, Nine Months Ended September 30, (in millions) 2023 2022 2023 2022 Reserve balance, beginning of the period $ 16.5 $ 11.6 $ 11.9 $ 10.5 Warranty liabilities accrued 3.8 2.9 14.4 9.3 Warranty liabilities settled (3.6) (3.4) (9.6) (8.6) Other — (0.2) — (0.3) Reserve balance, end of the period $ 16.7 $ 10.9 $ 16.7 $ 10.9

Accrued Loss Reserves

Accrued Loss Reserves	9 Months Ended
Accrued Loss Reserves	Sep. 30, 2023
Accrued Loss Reserves [Abstract]
Accrued Loss Reserves	Accrued Loss ReservesThe Company records reserves for losses related to known workers' compensation and general liability claims that have been incurred but not yet paid or are estimated to have been incurred but not yet reported to the Company. The undiscounted reserves are actuarially determined based on the Company's evaluation of the type and severity of individual claims and historical information, primarily its own claims experience, along with assumptions about future events. Changes in assumptions, as well as changes in actual experience, could cause these estimates to change in the future. Total accrued loss reserves were $7.1 million and $5.8 million as of September 30, 2023 and December 31, 2022, respectively, of which $4.2 million and $3.9 million were included in "Other long-term liabilities" in the Consolidated Balance Sheets as of September 30, 2023 and December 31, 2022, respectively.

Income Taxes

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	For the three months ended September 30, 2023, the Company recorded an income tax benefit of $0.6 million, reflecting an 8.5% effective tax rate, compared to a $0.7 million income tax expense for the three months ended September 30, 2022, reflecting a 58.3% effective tax rate. The income tax benefit for the three months ended September 30, 2023 as compared to the expense for the same period in 2022 was primarily due to lower pretax book income and changes in the relative weighting of jurisdictional income and loss.For the nine months ended September 30, 2023, the Company recorded an income tax provision of $6.5 million, reflecting a 25.7% effective tax rate, compared to $0.8 million expense, reflecting a 53.3% effective tax rate, for the nine months ended September 30, 2022. The income tax expense for the nine months ended September 30, 2023 was higher compared to the same period in 2022, primarily due to higher pretax book income and changes in the relative weighting of jurisdictional income and loss, partially offset by a net discrete tax benefit related to a research and development credit. The Company's recorded liability for uncertain tax positions was $12.7 million and $12.0 million as of September 30, 2023 and December 31, 2022, respectively. The increase is the result of $0.7 million of incremental reserves associated with the 2023 research and development credit. The Company does not anticipate a significant change in unrecognized tax benefits due to the expiration of relevant statutes of limitations and federal, state, and foreign tax audit resolutions over the next twelve months. The Company regularly assesses the likelihood of an adverse outcome resulting from examinations to determine the adequacy of its tax reserves. The Company is currently under audit by the U.S. Internal Revenue Service for the federal income tax return from the 2018 tax year as well as various other state income tax and jurisdictional audits. As of September 30, 2023, the Company believes that it is more-likely-than-not that the tax positions it has taken will be sustained upon the resolution of its audits, resulting in no material impact on its consolidated financial position, results of operations and cash flows. However, the final determination with respect to any tax audits, and any related litigation, could be materially different from the Company's estimates and/or from its historical income tax provisions and accruals and could have a material effect on operating results and/or cash flows in the periods for which that determination is made. In addition, future period earnings may be adversely impacted by litigation costs, settlements, penalties and/or interest assessments. On August 16, 2022, the Inflation Reduction Act of 2022 ("IRA") was signed into law. The IRA levies a 1% excise tax on net stock repurchases after December 31, 2022 and imposes a 15% corporate alternative minimum tax ("CAMT") for tax years beginning after December 31, 2022. The Company did not repurchase any shares during the three and nine months ended September 30, 2023. CAMT does not impact the Company's results of operations or financial position.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Certain customers have financed purchases of Company products through arrangements with third-party financing institutions. Under these arrangements, the Company is contingently liable for customer debt of $0.9 million and $2.4 million as of September 30, 2023 and December 31, 2022, respectively. These arrangements expire at various dates running through September 2026. Additionally, the Company is also contingently liable for 1.75% of the unpaid balance, determined as of December 31 of the prior year (or approximately $0.1 million for 2023), on certain past customer equipment purchases that were financed by an outside finance company. The agreements provide that the Company will receive the lender's full security interest in the financed equipment if the Company is required to fulfill its contingent liability under these arrangements. The Company has recorded a liability of $0.5 million and $1.0 million related to these guarantees, which were included in "Other current liabilities" in the Consolidated Balance Sheets as of September 30, 2023 and December 31, 2022, respectively. The Company reviews off-balance sheet guarantees individually and at the loss pool level based on one agreement. Prior history is considered with respect to the Company having to perform on any off-balance sheet guarantees, as well as future projections of individual customer credit worthiness with respect to assessing credit losses related to off-balance sheet guarantees. In addition, the Company is contingently liable under letters of credit issued under its $250.0 million revolving credit facility (the "Credit Facilities"), which outstanding letters of credit totaled $2.4 million as of September 30, 2023. The outstanding letters of credit expire at various dates through April 2024. As of September 30, 2023, the Company's foreign subsidiaries are contingently liable for a total of $6.1 million in performance letters of credit, advance payments and retention guarantees, of which $4.5 million is secured by separate credit facilities with local financial institutions. The Company and certain of its former executive officers were named as defendants in a putative shareholder class action lawsuit filed on February 1, 2019, as amended on August 26, 2019, in the United States District Court for the Eastern District of Tennessee. The action is styled City of Taylor General Employees Retirement System v. Astec Industries, Inc., et al., Case No. 1:19-cv-24-CEA-CHS. The complaint generally alleges that the defendants violated the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and Rule 10b-5 promulgated thereunder, by making allegedly false and misleading statements and that the individual defendants were control persons under Section 20(a) of the Exchange Act. The complaint is filed on behalf of shareholders who purchased stock of the Company between July 26, 2016 and October 22, 2018 and seeks monetary damages on behalf of the purported class. On October 25, 2019, the defendants filed a Motion to Dismiss. On February 19, 2021, the Motion to Dismiss was granted with prejudice and judgment was entered for the defendants. On March 19, 2021, plaintiff filed a Motion to Alter or Amend the Judgment and For Leave to File the Proposed Amended Complaint, which was denied on May 5, 2021. Plaintiff appealed the Motion to Dismiss and denial of its Motion to Alter or Amend the Judgment and For Leave to File the Proposed Amended Complaint to the United States Court of Appeals for the Sixth Circuit. On March 31, 2022, the United States Court of Appeals for the Sixth Circuit issued an opinion reversing the dismissal of the Company and one former executive officer, affirming the dismissal of certain other former executive officers and remanding the action to the United States District Court for the Eastern District of Tennessee for proceedings consistent with the opinion. On July 11, 2022 Defendants filed an answer to the complaint, and the action is now in discovery. The Company's GEFCO, Inc. ("GEFCO") subsidiary has been named a defendant in a lawsuit originally filed on August 16, 2018, with an amended complaint filed on January 25, 2019, in the United States District Court for the Western District of Oklahoma. The action is styled VenVer S.A. and Americas Coil Tubing LLP v. GEFCO, Inc., Case No. CIV-18-790-SLP. The complaint alleges breaches of warranty and other similar claims regarding equipment sold by GEFCO in 2013. In addition to seeking a rescission of the purchase contract, the plaintiff is seeking special and consequential damages. The original purchase price of the equipment was approximately $8.5 million. On July 7, 2020, the plaintiffs filed a separate lawsuit directly against Astec Industries, Inc. that generally mirrored the allegations in the GEFCO suit. In January 2023, the court allowed Astec Industries, Inc. to be added as a defendant to the GEFCO suit and, as a result, the separate suit against Astec Industries, Inc. was dismissed. The Company and GEFCO each dispute the plaintiffs' allegations and are vigorously defending the GEFCO suit. The Company is unable to determine whether or not a future loss will be incurred due to this litigation or estimate the possible loss or range of loss, if any, at this time. On October 5, 2023, a jury, in the 355 th Judicial District Court, Hood County, State of Texas, rendered a verdict against the Company's Telsmith, Inc. subsidiary in the matter styled 37 Building Products, Ltd. ("37 BP") v. Telsmith, Inc. ("Telsmith"), et al. originally filed on January 28, 2019, with additional defendants later added. All other defendants settled prior to trial except Telsmith. Telsmith will receive credit for the settlement amounts of all other defendants against any judgment entered in this case against Telsmith. 37 BP alleged breaches of warranty and negligent misrepresentation regarding equipment manufactured by Telsmith and purchased by 37 BP in 2017 through one of the Company's dealers. Based on the jury verdict, management has determined that a loss for this matter is probable in a range between $6.4 million and $18.1 million, inclusive of attorneys' fees and prejudgment interest. A loss contingency of $6.4 million was recorded in "Selling, general and administrative expenses" in the Consolidated Statements of Operations and "Other current liabilities" in the Consolidated Balance Sheets during the third quarter of 2023 representing management's best estimate of the loss. A judgment has not been entered by the trial court, however, a judgment is anticipated to be entered by the end of 2023 or during the first quarter of 2024. The judgment, once entered, may result in a change to the estimate of loss recorded and will incur post-judgment interest charges. The Company will evaluate the judgment once entered, including whether to appeal any judgment entered by the court. In addition to the matters noted above, the Company is currently a party, and may become a party, to various other claims and legal proceedings in the ordinary course of business. If management believes that a loss arising from any claims and legal proceedings is probable and can reasonably be estimated, the Company records the amount of the loss (excluding estimated legal fees) or, when the loss is estimated using a range and no point within the range is more probable than another, the minimum estimated liability. As management becomes aware of additional information concerning such contingencies, any potential liability related to these matters is assessed and the estimates are revised, if necessary. If management believes that a loss arising from such claims and legal proceedings is either (i) probable but cannot be reasonably estimated or (ii) reasonably estimable but not probable, the Company does not record the amount of the loss but does make specific disclosure of such matter. Based upon currently available information and with the advice of counsel, management believes that the ultimate outcome of its current claims and legal proceedings, individually and in the aggregate, will not have a material adverse effect on the Company's financial position, cash flows or results of operations. However, claims and legal proceedings are subject to inherent uncertainties, and rulings unfavorable to the Company could occur. If an unfavorable ruling were to occur, there exists the possibility of a material adverse effect on the Company's financial position, cash flows or results of operations.

Revenue Recognition

Revenue Recognition	9 Months Ended
Revenue Recognition	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition The following tables disaggregate the Company's revenue by major source for the three and nine month periods ended September 30, 2023 and 2022 (excluding intercompany sales): Three Months Ended September 30, 2023 Three Months Ended September 30, 2022 (in millions) Infrastructure Solutions Materials Solutions Corporate and Other Total Infrastructure Solutions Materials Solutions Corporate and Other Total Net Sales-Domestic: Equipment sales $ 94.4 $ 54.7 $ 0.5 $ 149.6 $ 105.9 $ 60.6 $ 0.8 $ 167.3 Parts and component sales 50.3 20.5 0.1 70.9 46.3 21.8 0.1 68.2 Service and equipment installation revenue 3.6 0.2 — 3.8 5.2 0.3 — 5.5 Used equipment sales — — — — 3.2 — — 3.2 Freight revenue 5.2 1.9 — 7.1 5.3 2.1 — 7.4 Other 0.3 (2.4) 0.3 (1.8) 0.2 (2.5) 0.1 (2.2) Total domestic revenue 153.8 74.9 0.9 229.6 166.1 82.3 1.0 249.4 Net Sales-International: Equipment sales 26.3 23.1 0.7 50.1 23.8 17.7 0.3 41.8 Parts and component sales 9.2 9.9 — 19.1 10.1 9.6 — 19.7 Service and equipment installation revenue 1.0 1.8 0.1 2.9 1.0 0.9 0.1 2.0 Used equipment sales — 0.4 — 0.4 0.3 1.0 — 1.3 Freight revenue 0.5 0.4 — 0.9 0.6 0.3 — 0.9 Other — — 0.1 0.1 — — 0.1 0.1 Total international revenue 37.0 35.6 0.9 73.5 35.8 29.5 0.5 65.8 Total net sales $ 190.8 $ 110.5 $ 1.8 $ 303.1 $ 201.9 $ 111.8 $ 1.5 $ 315.2 Nine Months Ended September 30, 2023 Nine Months Ended September 30, 2022 (in millions) Infrastructure Solutions Materials Solutions Corporate and Other Total Infrastructure Solutions Materials Solutions Corporate and Other Total Net Sales-Domestic: Equipment sales $ 314.6 $ 197.8 $ 2.2 $ 514.6 $ 315.2 $ 162.0 $ 0.9 $ 478.1 Parts and component sales 159.9 64.1 0.2 224.2 146.4 63.7 0.1 210.2 Service and equipment installation revenue 38.0 0.6 0.1 38.7 17.8 0.6 — 18.4 Used equipment sales 2.6 — — 2.6 5.2 — — 5.2 Freight revenue 17.4 6.4 — 23.8 18.1 5.9 — 24.0 Other 0.4 (7.5) 0.5 (6.6) 0.4 (4.1) 0.1 (3.6) Total domestic revenue 532.9 261.4 3.0 797.3 503.1 228.1 1.1 732.3 Net Sales-International: Equipment sales 68.3 56.9 3.9 129.1 67.4 50.5 1.1 119.0 Parts and component sales 31.4 30.0 0.1 61.5 33.4 29.4 0.1 62.9 Service and equipment installation revenue 3.3 4.1 0.4 7.8 2.8 2.1 0.3 5.2 Used equipment sales 0.6 1.2 — 1.8 0.5 1.6 — 2.1 Freight revenue 2.3 1.0 — 3.3 1.8 1.0 — 2.8 Other — — 0.2 0.2 — 0.2 0.1 0.3 Total international revenue 105.9 93.2 4.6 203.7 105.9 84.8 1.6 192.3 Total net sales $ 638.8 $ 354.6 $ 7.6 $ 1,001.0 $ 609.0 $ 312.9 $ 2.7 $ 924.6 Sales into major geographic regions were as follows: Three Months Ended September 30, Nine Months Ended September 30, (in millions) 2023 2022 2023 2022 United States $ 229.6 $ 249.4 $ 797.3 $ 732.3 Canada 13.4 12.9 48.7 49.2 Australia 20.6 10.8 44.4 31.3 Africa 10.6 10.9 28.6 25.9 Europe 8.0 9.1 24.5 22.4 Brazil 8.3 7.7 22.1 18.5 South America (Excluding Brazil) 5.1 4.5 14.4 17.1 Asia 2.8 1.5 6.5 8.6 Mexico 3.4 4.2 6.2 9.1 Central America (Excluding Mexico) 0.5 3.9 3.6 7.5 Other 0.8 0.3 4.7 2.7 Total foreign 73.5 65.8 203.7 192.3 Total net sales $ 303.1 $ 315.2 $ 1,001.0 $ 924.6 As of September 30, 2023, the Company had contract assets of $3.6 million and contract liabilities, excluding customer deposits, of $6.2 million, including $2.6 million of deferred revenue related to extended warranties. As of December 31, 2022, the Company had contract assets of $3.8 million and contract liabilities, excluding customer deposits, of $5.5 million, including $2.9 million of deferred revenue related to extended warranties.

Segment Information

Segment Information	9 Months Ended
Segment Information	Sep. 30, 2023
Segment Reporting [Abstract]
Segment Information	Segment Information The Company has two reportable segments, each of which comprise sites based upon the nature of the products or services produced, the type of customer for the products, the similarity of economic characteristics, the manner in which management reviews results and the nature of the production process, among other considerations. Segment Operating Adjusted EBITDA is the measure of segment profit or loss used by the Company's Chief Executive Officer, whom is determined to be the chief operating decision maker ("CODM"), to evaluate performance and allocate resources to the operating segments is Segment Operating Adjusted EBITDA. Segment Operating Adjusted EBITDA, a non-GAAP financial measure, is defined as net income or loss before the impact of interest income or expense, income taxes, depreciation and amortization and certain other adjustments that are not considered by the CODM in the evaluation of ongoing operating performance. The Company's presentation of Segment Operating Adjusted EBITDA may not be comparable to similar measures used by other companies and is not necessarily indicative of the results of operations that would have occurred had each reportable segment been an independent, stand-alone entity during the periods presented. A brief description of each segment is as follows: Infrastructure Solutions – Sites within the Infrastructure Solutions segment design, engineer, manufacture and market a complete line of asphalt plants, concrete plants and their related components and ancillary equipment as well as supplying asphalt road construction equipment, industrial thermal systems and other heavy equipment. The sites based in North America within the Infrastructure Solutions segment are primarily manufacturing operations, while those located outside of North America service and install equipment and provide parts in the regions in which they operate for many of the products produced by all of the Company's manufacturing sites. The primary purchasers of the products produced by this segment are asphalt and concrete producers, highway and heavy equipment contractors, utility contractors, forestry and environmental recycling contractors and domestic and foreign governmental agencies. Materials Solutions – Sites within the Materials Solutions segment design and manufacture heavy processing equipment, in addition to servicing and supplying parts for the aggregate, metallic mining, recycling, ports and bulk handling markets. The sites within the Materials Solutions segment are primarily manufacturing operations, with the AME site functioning to market, service and install equipment and provide parts in the regions in which they operate for many of the products produced by all of the Company's manufacturing sites. Additionally, the Materials Solutions segment offers consulting and engineering services to provide complete "turnkey" processing systems. The principal purchasers of aggregate processing equipment include distributors, highway and heavy equipment contractors, sand and gravel producers, demolition, recycle and crushing contractors, open mine operators, quarry operators, port and inland terminal authorities, power stations and foreign and domestic governmental agencies. Corporate and Other – The Corporate and Other category consists primarily of the parent company, the Company's captive insurance company, Astec Insurance, and the controls and automation business, which do not meet the requirements for separate disclosure as an operating segment or inclusion in one of the other reporting segments. The parent company and the captive insurance company provide support and corporate oversight for other sites. The controls and automation business manufactures hardware and software products that are marketed independently and included in certain products of the Company's other segments. The accounting policies of the reportable segments are the same as those described in Note 1, Basis of Presentation and Significant Accounting Policies. Intersegment sales and transfers between foreign subsidiaries are valued at prices comparable to those for unrelated parties. Segment Information: Three Months Ended September 30, 2023 Three Months Ended September 30, 2022 (in millions) Infrastructure Solutions Materials Solutions Corporate and Other Total Infrastructure Solutions Materials Solutions Corporate and Other Total Revenues from external customers $ 190.8 $ 110.5 $ 1.8 $ 303.1 $ 201.9 $ 111.8 $ 1.5 $ 315.2 Intersegment sales 4.3 14.0 — 18.3 1.9 14.1 — 16.0 Segment Operating Adjusted EBITDA 16.5 8.3 (14.4) 10.4 17.6 13.1 (14.2) 16.5 Nine Months Ended September 30, 2023 Nine Months Ended September 30, 2022 (in millions) Infrastructure Solutions Materials Solutions Corporate and Other Total Infrastructure Solutions Materials Solutions Corporate and Other Total Revenues from external customers $ 638.8 $ 354.6 $ 7.6 $ 1,001.0 $ 609.0 $ 312.9 $ 2.7 $ 924.6 Intersegment sales 8.2 40.9 0.6 49.7 7.0 35.8 — 42.8 Segment Operating Adjusted EBITDA 70.5 41.9 (33.5) 78.9 49.9 34.8 (36.3) 48.4 , A reconciliation of total Segment Operating Adjusted EBITDA to the Company's "Net (loss) income attributable to controlling interest" is as follows: Three Months Ended September 30, Nine Months Ended September 30, (in millions) 2023 2022 2023 2022 Net (loss) income attributable to controlling interest Segment Operating Adjusted EBITDA $ 10.4 $ 16.5 $ 78.9 $ 48.4 Adjustments: Transformation program (7.7) (7.0) (22.5) (18.7) Restructuring and other related charges (0.1) (0.1) (7.6) (1.5) Asset impairment — (0.4) (0.8) (3.4) (Loss) gain on sale of property and equipment, net (0.4) 0.4 3.1 0.4 Transaction costs — (0.5) — (1.9) Interest expense, net (1.9) (0.3) (4.9) (0.9) Depreciation and amortization (7.1) (7.3) (19.6) (20.9) Income tax benefit (provision) 0.6 (0.7) (6.5) (0.8) Net (income) loss attributable to noncontrolling interest (0.1) 0.2 (0.2) 0.2 Elimination of intercompany profit (0.3) (0.1) (1.3) — Net (loss) income attributable to controlling interest $ (6.6) $ 0.7 $ 18.6 $ 0.9

Strategic Transformation and Re

Strategic Transformation and Restructuring, Impairment and Other Asset Charges, net	9 Months Ended
	Sep. 30, 2023
Restructuring, Settlement and Impairment Provisions [Abstract]
Strategic Transformation and Restructuring, Impairment and Other Asset Charges, net	Strategic Transformation and Restructuring, Impairment and Other Asset Charges, net The Company is undergoing a multi-year phased implementation of a standardized enterprise resource planning ("ERP") system across the global organization, which will replace much of the existing disparate core financial systems. The upgraded ERP will initially convert internal operations, manufacturing, finance, human capital resources management and customer relationship systems to cloud-based platforms. This new ERP system will provide for standardized processes and integrated technology solutions that enable the Company to better leverage automation and process efficiency. An implementation of this scale is a major financial undertaking and requires substantial time and attention of management and key employees. In addition, beginning in the first quarter of 2022, a lean manufacturing initiative at one of the Company's largest sites was initiated and is expected to drive improvement in gross margin at that site. Gross margin improvements are expected to be realized in conjunction with the project completion in early to mid-2024. This improvement is intended to serve as the optimal blueprint for the Company's other manufacturing facilities. Total costs of $7.8 million and $22.8 million were incurred related to these strategic transformation initiatives in the three and nine months ended September 30, 2023, respectively, of which $7.7 million and $22.6 million, respectively, are recorded in "Selling, general and administrative expenses" and $0.1 million and $0.2 million, respectively, are included in "Cost of sales" in the Consolidated Statements of Operations. Costs totaling $7.0 million and $18.7 million were incurred in the three and nine months ended September 30, 2022, respectively, and are recorded in "Selling, general and administrative expenses" in the Consolidated Statements of Operations. 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 the Company 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 and gains or losses on the sales of property and equipment collectively, with restructuring charges in "Restructuring, impairment and other asset charges, net" in the Consolidated Statements of Operations to the extent they are experienced. Restructuring, asset impairment charges and the net losses and gains on sale of property and equipment are presented below: Three Months Ended September 30, Nine Months Ended September 30, (in millions) 2023 2022 2023 2022 Restructuring charges: Costs associated with leadership change and overhead restructuring $ — $ — $ 7.3 $ — Costs associated with exited operations - Enid 0.1 0.1 0.3 0.7 Costs associated with closing Tacoma — — — 0.8 Total restructuring related charges 0.1 0.1 7.6 1.5 Asset impairment charges: Other impairment charges — 0.4 0.8 3.4 Total asset impairment charges — 0.4 0.8 3.4 Loss (gain) on sale of property and equipment, net Loss (gain) on sale of property and equipment, net 0.4 (0.4) (3.1) (0.4) Total loss (gain) on sale of property and equipment, net 0.4 (0.4) (3.1) (0.4) Restructuring, impairment and other asset charges, net $ 0.5 $ 0.1 $ 5.3 $ 4.5 Restructuring charges by segment are as follows: Three Months Ended September 30, Nine Months Ended September 30, (in millions) 2023 2022 2023 2022 Infrastructure Solutions $ 0.1 $ 0.1 $ 0.4 $ 1.5 Corporate and Other — — 7.2 — Total restructuring related charges $ 0.1 $ 0.1 $ 7.6 $ 1.5

(Loss) Earnings Per Common Shar

(Loss) Earnings Per Common Share	9 Months Ended
(Loss) Earnings Per Common Share	Sep. 30, 2023
Earnings Per Share [Abstract]
(Loss) Earnings Per Common Share	(Loss) Earnings Per Common ShareBasic (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. 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 (loss) earnings per common share: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Denominator: Denominator for basic earnings per common share 22,746,783 22,837,314 22,709,238 22,824,028 Effect of dilutive securities — 79,002 66,920 108,178 Denominator for diluted earnings per common share 22,746,783 22,916,316 22,776,158 22,932,206 Antidilutive securities excluded from the calculation of diluted earnings per share 67,408 124,229 9,345 32,218

Basis of Presentation and Sig_2

Basis of Presentation and Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited consolidated financial statements include the accounts of Astec and its subsidiaries and have been prepared by the Company, pursuant to the rules and regulations of the U.S. Securities and Exchange Commission ("SEC"). The Company prepares its financial statements in accordance with accounting principles generally accepted in the U.S. ("U.S. GAAP"). Certain information and footnote disclosures normally included in annual consolidated financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to the SEC rules and regulations governing interim financial statements. However, the Company believes that the disclosures made in the unaudited consolidated financial statements and related notes are adequate to make the information presented not misleading. These consolidated financial statements should be read in conjunction with the Company's audited consolidated financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2022. All intercompany balances and transactions between the Company and its affiliates have been eliminated in consolidation. Noncontrolling interest in the Company's consolidated financial statements represents the 7% interest in a consolidated subsidiary which is not owned by the Company. Since the Company controls this subsidiary, the subsidiary's financial statements are consolidated with those of the Company, and the noncontrolling owner's 7% share of the subsidiary's net assets and results of operations is deducted and reported as "Noncontrolling interest" in the Consolidated Balance Sheets and as "Net (income) loss attributable to noncontrolling interest" in the Consolidated Statements of Operations. The Company executed an agreement in February 2022 with the noncontrolling interest holder, which is undergoing a judicial reorganization in Brazil, to acquire their outstanding interest in full for R$10.0M (approximately $2.0 million, subject to the effect of exchange rates). Completion of the transaction is subject to obtaining certain judicial approval in Brazil. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported and disclosed in the consolidated financial statements and accompanying notes. Significant items subject to such estimates and assumptions include excess and obsolete inventory, inventory net realizable value, product warranty obligations, self-insurance loss reserves, capitalization of internal use software, goodwill impairment and the measurement of income tax assets and liabilities. The Company bases its estimates on historical experience and on various other assumptions that the Company believes to be reasonable under the circumstances. On an ongoing basis, the Company evaluates these assumptions, judgments and estimates. Actual results could differ from those estimates. In the opinion of management, the consolidated financial statements contain all adjustments necessary for a fair statement of the results of operations and comprehensive (loss) income for the three and nine months ended September 30, 2023 and 2022, the financial position as of September 30, 2023 and December 31, 2022 and the cash flows for the nine months ended September 30, 2023 and 2022, and except as otherwise discussed herein, such adjustments consist only of those of a normal recurring nature. The interim results are not necessarily indicative of results that may be achieved in a full reporting year. All dollar amounts, except share and per share amounts, are in millions of dollars unless otherwise indicated. Reclassifications and Adjustments Certain reclassifications have been made to the prior period financial information to conform to the presentation used in the financial statements for the nine months ended September 30, 2023. • The Company elected to present research and development expenses in "Selling, general and administrative expenses". These amounts were previously included in a separate financial statement caption in the Consolidated Statements of Operations. • The Company reclassified certain accrued liability balances from "Other current liabilities" to "Accrued employee related liabilities" to more appropriately reflect the nature of such accrued balances. • The Company elected to present gains and losses recognized on the change in fair value of derivative instruments and foreign currency transaction gains and losses, net in "Other (expenses) income, net". These amounts were previously included in "Cost of sales". There was no change to previously reported "Total current liabilities" or "Net (loss) income attributable to controlling interest" related to these reclassifications. 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 and 2022 was corrected during the first quarter of 2023, resulting in a decrease in "Cost of sales" of $1.9 million. Such adjustment was not considered material to the Company's consolidated financial statements for the year ended December 31, 2022 or any of the financial statements for the previously filed annual periods.
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements In October 2021, the Financial Accounting Standards Board issued Accounting Standards Update ("ASU") 2021-08, "Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers", which requires entities to recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with ASU 2014-09, Revenue from Contracts with Customers (Topic 606). The update will generally result in an entity recognizing contract assets and contract liabilities at amounts consistent with those recorded by the acquiree immediately before the acquisition date rather than at fair value. The new standard is effective on a prospective basis for fiscal years beginning after December 15, 2022, with early adoption permitted. The Company elected to early adopt this guidance on April 1, 2022. The adoption of this new standard did not have a material impact on its financial position, results of operations, cash flows or disclosures. Recent accounting guidance not discussed above is not applicable, did not have, or is not expected to have a material impact on the Company.

Acquisition (Tables)

Acquisition (Tables)	9 Months Ended
Acquisition (Tables)	Sep. 30, 2023
Business Combination and Asset Acquisition [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The following table summarizes the allocations of the total purchase price: (in millions) Amount Cash $ 1.5 Trade receivables 2.7 Inventories 0.7 Prepaid expenses and other assets 0.4 Property and equipment 0.2 Goodwill 9.3 Intangible assets 9.3 Other long-term assets 0.5 Total assets acquired $ 24.6 Accounts payable (0.7) Accrued payroll and related liabilities (0.8) Other current liabilities (1.1) Deferred income tax liabilities (2.4) Other long-term liabilities (0.3) Total liabilities assumed (5.3) Total purchase price $ 19.3

Inventories (Tables)

Inventories (Tables)	9 Months Ended
Inventories (Tables)	Sep. 30, 2023
Inventory Disclosure [Abstract]
Schedule of Inventory, Current	Inventories consist of the following: (in millions) September 30, 2023 December 31, 2022 Raw materials and parts $ 313.1 $ 302.9 Work-in-process 78.0 57.3 Finished goods 57.4 32.1 Used equipment 1.6 1.1 Total $ 450.1 $ 393.4

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
Fair Value Measurements (Tables)	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	As indicated in the tables below, the Company has determined that all of its financial assets and liabilities as of September 30, 2023 and December 31, 2022 are Level 1 and Level 2 in the fair value hierarchy as defined above: September 30, 2023 (in millions) Level 1 Level 2 Total Financial assets: Trading equity securities: Deferred compensation programs' mutual funds $ 4.0 $ — $ 4.0 Preferred stocks 0.3 — 0.3 Equity funds 0.6 — 0.6 Trading debt securities: Corporate bonds 4.0 — 4.0 Municipal bonds — 0.3 0.3 Agency bonds — 2.5 2.5 Floating rate notes 0.2 — 0.2 U.S. government securities 1.9 — 1.9 Asset-backed securities — 4.3 4.3 Other 1.3 0.6 1.9 Derivative financial instruments — 0.2 0.2 Total financial assets $ 12.3 $ 7.9 $ 20.2 Financial liabilities: Deferred compensation programs' liabilities $ — $ 5.7 $ 5.7 Total financial liabilities $ — $ 5.7 $ 5.7 December 31, 2022 (in millions) Level 1 Level 2 Total Financial assets: Trading equity securities: Deferred compensation programs' mutual funds $ 4.4 $ — $ 4.4 Preferred stocks 0.3 — 0.3 Equity funds 0.6 — 0.6 Trading debt securities: Corporate bonds 5.0 — 5.0 Municipal bonds — 0.3 0.3 Floating rate notes 0.2 — 0.2 U.S. government securities 0.8 — 0.8 Asset-backed securities — 5.4 5.4 Other 1.3 0.7 2.0 Total financial assets $ 12.6 $ 6.4 $ 19.0 Financial liabilities: Deferred compensation programs' liabilities $ — $ 5.7 $ 5.7 Total financial liabilities $ — $ 5.7 $ 5.7

Product Warranty Reserves (Tabl

Product Warranty Reserves (Tables)	9 Months Ended
Product Warranty Reserves (Tables)	Sep. 30, 2023
Product Warranties Disclosures [Abstract]
Schedule of Product Warranty Liability	Changes in the Company's product warranty liability for the three and nine month periods ended September 30, 2023 and 2022 are as follows: Three Months Ended September 30, Nine Months Ended September 30, (in millions) 2023 2022 2023 2022 Reserve balance, beginning of the period $ 16.5 $ 11.6 $ 11.9 $ 10.5 Warranty liabilities accrued 3.8 2.9 14.4 9.3 Warranty liabilities settled (3.6) (3.4) (9.6) (8.6) Other — (0.2) — (0.3) Reserve balance, end of the period $ 16.7 $ 10.9 $ 16.7 $ 10.9

Revenue Recognition (Tables)

Revenue Recognition (Tables)	9 Months Ended
Revenue Recognition (Tables)	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following tables disaggregate the Company's revenue by major source for the three and nine month periods ended September 30, 2023 and 2022 (excluding intercompany sales): Three Months Ended September 30, 2023 Three Months Ended September 30, 2022 (in millions) Infrastructure Solutions Materials Solutions Corporate and Other Total Infrastructure Solutions Materials Solutions Corporate and Other Total Net Sales-Domestic: Equipment sales $ 94.4 $ 54.7 $ 0.5 $ 149.6 $ 105.9 $ 60.6 $ 0.8 $ 167.3 Parts and component sales 50.3 20.5 0.1 70.9 46.3 21.8 0.1 68.2 Service and equipment installation revenue 3.6 0.2 — 3.8 5.2 0.3 — 5.5 Used equipment sales — — — — 3.2 — — 3.2 Freight revenue 5.2 1.9 — 7.1 5.3 2.1 — 7.4 Other 0.3 (2.4) 0.3 (1.8) 0.2 (2.5) 0.1 (2.2) Total domestic revenue 153.8 74.9 0.9 229.6 166.1 82.3 1.0 249.4 Net Sales-International: Equipment sales 26.3 23.1 0.7 50.1 23.8 17.7 0.3 41.8 Parts and component sales 9.2 9.9 — 19.1 10.1 9.6 — 19.7 Service and equipment installation revenue 1.0 1.8 0.1 2.9 1.0 0.9 0.1 2.0 Used equipment sales — 0.4 — 0.4 0.3 1.0 — 1.3 Freight revenue 0.5 0.4 — 0.9 0.6 0.3 — 0.9 Other — — 0.1 0.1 — — 0.1 0.1 Total international revenue 37.0 35.6 0.9 73.5 35.8 29.5 0.5 65.8 Total net sales $ 190.8 $ 110.5 $ 1.8 $ 303.1 $ 201.9 $ 111.8 $ 1.5 $ 315.2 Nine Months Ended September 30, 2023 Nine Months Ended September 30, 2022 (in millions) Infrastructure Solutions Materials Solutions Corporate and Other Total Infrastructure Solutions Materials Solutions Corporate and Other Total Net Sales-Domestic: Equipment sales $ 314.6 $ 197.8 $ 2.2 $ 514.6 $ 315.2 $ 162.0 $ 0.9 $ 478.1 Parts and component sales 159.9 64.1 0.2 224.2 146.4 63.7 0.1 210.2 Service and equipment installation revenue 38.0 0.6 0.1 38.7 17.8 0.6 — 18.4 Used equipment sales 2.6 — — 2.6 5.2 — — 5.2 Freight revenue 17.4 6.4 — 23.8 18.1 5.9 — 24.0 Other 0.4 (7.5) 0.5 (6.6) 0.4 (4.1) 0.1 (3.6) Total domestic revenue 532.9 261.4 3.0 797.3 503.1 228.1 1.1 732.3 Net Sales-International: Equipment sales 68.3 56.9 3.9 129.1 67.4 50.5 1.1 119.0 Parts and component sales 31.4 30.0 0.1 61.5 33.4 29.4 0.1 62.9 Service and equipment installation revenue 3.3 4.1 0.4 7.8 2.8 2.1 0.3 5.2 Used equipment sales 0.6 1.2 — 1.8 0.5 1.6 — 2.1 Freight revenue 2.3 1.0 — 3.3 1.8 1.0 — 2.8 Other — — 0.2 0.2 — 0.2 0.1 0.3 Total international revenue 105.9 93.2 4.6 203.7 105.9 84.8 1.6 192.3 Total net sales $ 638.8 $ 354.6 $ 7.6 $ 1,001.0 $ 609.0 $ 312.9 $ 2.7 $ 924.6
Revenue from External Customers by Geographic Areas	Sales into major geographic regions were as follows: Three Months Ended September 30, Nine Months Ended September 30, (in millions) 2023 2022 2023 2022 United States $ 229.6 $ 249.4 $ 797.3 $ 732.3 Canada 13.4 12.9 48.7 49.2 Australia 20.6 10.8 44.4 31.3 Africa 10.6 10.9 28.6 25.9 Europe 8.0 9.1 24.5 22.4 Brazil 8.3 7.7 22.1 18.5 South America (Excluding Brazil) 5.1 4.5 14.4 17.1 Asia 2.8 1.5 6.5 8.6 Mexico 3.4 4.2 6.2 9.1 Central America (Excluding Mexico) 0.5 3.9 3.6 7.5 Other 0.8 0.3 4.7 2.7 Total foreign 73.5 65.8 203.7 192.3 Total net sales $ 303.1 $ 315.2 $ 1,001.0 $ 924.6

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
Segment Information (Tables)	Sep. 30, 2023
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Segment Information: Three Months Ended September 30, 2023 Three Months Ended September 30, 2022 (in millions) Infrastructure Solutions Materials Solutions Corporate and Other Total Infrastructure Solutions Materials Solutions Corporate and Other Total Revenues from external customers $ 190.8 $ 110.5 $ 1.8 $ 303.1 $ 201.9 $ 111.8 $ 1.5 $ 315.2 Intersegment sales 4.3 14.0 — 18.3 1.9 14.1 — 16.0 Segment Operating Adjusted EBITDA 16.5 8.3 (14.4) 10.4 17.6 13.1 (14.2) 16.5 Nine Months Ended September 30, 2023 Nine Months Ended September 30, 2022 (in millions) Infrastructure Solutions Materials Solutions Corporate and Other Total Infrastructure Solutions Materials Solutions Corporate and Other Total Revenues from external customers $ 638.8 $ 354.6 $ 7.6 $ 1,001.0 $ 609.0 $ 312.9 $ 2.7 $ 924.6 Intersegment sales 8.2 40.9 0.6 49.7 7.0 35.8 — 42.8 Segment Operating Adjusted EBITDA 70.5 41.9 (33.5) 78.9 49.9 34.8 (36.3) 48.4 ,
Reconciliation of Operating Profit (Loss) from Segments to Consolidated	A reconciliation of total Segment Operating Adjusted EBITDA to the Company's "Net (loss) income attributable to controlling interest" is as follows: Three Months Ended September 30, Nine Months Ended September 30, (in millions) 2023 2022 2023 2022 Net (loss) income attributable to controlling interest Segment Operating Adjusted EBITDA $ 10.4 $ 16.5 $ 78.9 $ 48.4 Adjustments: Transformation program (7.7) (7.0) (22.5) (18.7) Restructuring and other related charges (0.1) (0.1) (7.6) (1.5) Asset impairment — (0.4) (0.8) (3.4) (Loss) gain on sale of property and equipment, net (0.4) 0.4 3.1 0.4 Transaction costs — (0.5) — (1.9) Interest expense, net (1.9) (0.3) (4.9) (0.9) Depreciation and amortization (7.1) (7.3) (19.6) (20.9) Income tax benefit (provision) 0.6 (0.7) (6.5) (0.8) Net (income) loss attributable to noncontrolling interest (0.1) 0.2 (0.2) 0.2 Elimination of intercompany profit (0.3) (0.1) (1.3) — Net (loss) income attributable to controlling interest $ (6.6) $ 0.7 $ 18.6 $ 0.9

Strategic Transformation and _2

Strategic Transformation and Restructuring, Impairment and Other Asset Charges, net (Tables)	9 Months Ended
	Sep. 30, 2023
Restructuring, Settlement and Impairment Provisions [Abstract]
Restructuring and Related Costs	Restructuring, asset impairment charges and the net losses and gains on sale of property and equipment are presented below: Three Months Ended September 30, Nine Months Ended September 30, (in millions) 2023 2022 2023 2022 Restructuring charges: Costs associated with leadership change and overhead restructuring $ — $ — $ 7.3 $ — Costs associated with exited operations - Enid 0.1 0.1 0.3 0.7 Costs associated with closing Tacoma — — — 0.8 Total restructuring related charges 0.1 0.1 7.6 1.5 Asset impairment charges: Other impairment charges — 0.4 0.8 3.4 Total asset impairment charges — 0.4 0.8 3.4 Loss (gain) on sale of property and equipment, net Loss (gain) on sale of property and equipment, net 0.4 (0.4) (3.1) (0.4) Total loss (gain) on sale of property and equipment, net 0.4 (0.4) (3.1) (0.4) Restructuring, impairment and other asset charges, net $ 0.5 $ 0.1 $ 5.3 $ 4.5 Restructuring charges by segment are as follows: Three Months Ended September 30, Nine Months Ended September 30, (in millions) 2023 2022 2023 2022 Infrastructure Solutions $ 0.1 $ 0.1 $ 0.4 $ 1.5 Corporate and Other — — 7.2 — Total restructuring related charges $ 0.1 $ 0.1 $ 7.6 $ 1.5
Schedule Of Asset Impairment Charges	Impairment charges by segment are as follows: Three Months Ended September 30, Nine Months Ended September 30, (in millions) 2023 2022 2023 2022 Infrastructure Solutions $ — $ 0.4 $ — $ 2.5 Corporate and Other — — 0.8 0.9 Total impairment charges $ — $ 0.4 $ 0.8 $ 3.4
Schedule of Fixed Asset Sales	Net losses and gains on sale of property and equipment by segment are as follows: Three Months Ended September 30, Nine Months Ended September 30, (in millions) 2023 2022 2023 2022 Infrastructure Solutions $ 0.4 $ (0.4) $ (3.0) $ (0.4) Corporate and Other — — (0.1) — Total loss (gain) on sale of property and equipment, net $ 0.4 $ (0.4) $ (3.1) $ (0.4)

(Loss) Earnings Per Common Sh_2

(Loss) Earnings Per Common Share (Tables)	9 Months Ended
(Loss) Earnings Per Common Share (Tables)	Sep. 30, 2023
Earnings Per Share [Abstract]
Computation of Earnings Per Share	The following table sets forth a reconciliation of the number of shares used in the computation of basic and diluted (loss) earnings per common share: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Denominator: Denominator for basic earnings per common share 22,746,783 22,837,314 22,709,238 22,824,028 Effect of dilutive securities — 79,002 66,920 108,178 Denominator for diluted earnings per common share 22,746,783 22,916,316 22,776,158 22,932,206 Antidilutive securities excluded from the calculation of diluted earnings per share 67,408 124,229 9,345 32,218

Basis of Presentation and Sig_3

Basis of Presentation and Significant Accounting Policies (Details) R$ in Millions, $ in Millions	3 Months Ended			9 Months Ended		12 Months Ended
	Sep. 30, 2023 USD ($)	Mar. 31, 2023 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($) segment	Sep. 30, 2022 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2023 BRL (R$)
Product Information [Line Items]
Number of reportable segments \| segment				2
Cost of sales	$ (233.5)		$ (249.7)	$ (759.3)	$ (731.5)
Revision of Prior Period, Error Correction, Adjustment
Product Information [Line Items]
Cost of sales		$ 1.9
Forecast
Product Information [Line Items]
Noncontrolling interest, decrease from redemptions or purchase of interests						$ 2	R$ 10.0
Consolidated Subsidiary
Product Information [Line Items]
Noncontrolling interest, ownership percentage by parent	7%			7%

Acquisition - Narrative (Detail

Acquisition - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Acquisition - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022	Mar. 22, 2022
Business Acquisition [Line Items]
Goodwill	$ 45.3		$ 45.3		$ 45.2
MINDS Automation Group Inc
Business Acquisition [Line Items]
Total purchase price						$ 19.3
Goodwill						9.3
Intangible assets						$ 9.3
Business combination, integration elated costs	$ 0	$ 0.2	$ 0	$ 1.1
MINDS Automation Group Inc \| Customer Relationships
Business Acquisition [Line Items]
Acquired finite-lived intangible assets, weighted average useful life			9 years
MINDS Automation Group Inc \| Developed Technology Rights
Business Acquisition [Line Items]
Acquired finite-lived intangible assets, weighted average useful life			7 years

Acquisition - Purchase Price Al

Acquisition - Purchase Price Allocation (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022	Mar. 22, 2022
Business Acquisition [Line Items]
Goodwill	$ 45.3	$ 45.2
MINDS Automation Group Inc
Business Acquisition [Line Items]
Cash			$ 1.5
Trade receivables			2.7
Inventories			0.7
Prepaid expenses and other assets			0.4
Property and equipment			0.2
Goodwill			9.3
Intangible assets			9.3
Other long-term assets			0.5
Total assets acquired			24.6
Accounts payable			(0.7)
Accrued payroll and related liabilities			(0.8)
Other current liabilities			(1.1)
Deferred income tax liabilities			(2.4)
Other long-term liabilities			(0.3)
Total liabilities assumed			(5.3)
Total purchase price			$ 19.3

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Raw materials and parts	$ 313.1	$ 302.9
Work-in-process	78	57.3
Finished goods	57.4	32.1
Used equipment	1.6	1.1
Total	$ 450.1	$ 393.4

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Fair Value, Assets and Liabilities Measure on Recurring Basis (Details) - Fair Value, Recurring - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Financial assets:
Derivative financial instruments	$ 0.2
Total financial assets	20.2	$ 19
Financial liabilities:
Deferred compensation programs' liabilities	5.7	5.7
Total financial liabilities	5.7	5.7
Corporate bonds
Financial assets:
Trading debt securities:	4	5
Municipal bonds
Financial assets:
Trading debt securities:	0.3	0.3
Agency bonds
Financial assets:
Trading debt securities:	2.5
Floating rate notes
Financial assets:
Trading debt securities:	0.2	0.2
U.S. government securities
Financial assets:
Trading debt securities:	1.9	0.8
Asset-backed securities
Financial assets:
Trading debt securities:	4.3	5.4
Other
Financial assets:
Trading debt securities:	1.9	2
Preferred stocks
Financial assets:
Trading equity securities:	0.3	0.3
Equity Funds
Financial assets:
Trading equity securities:	0.6	0.6
Supplemental Employee Retirement Plan and Non-Qualified Deferred Compensation Plan \| Mutual Fund
Financial assets:
Trading equity securities:	4	4.4
Level 1
Financial assets:
Derivative financial instruments	0
Total financial assets	12.3	12.6
Financial liabilities:
Deferred compensation programs' liabilities	0	0
Total financial liabilities	0	0
Level 1 \| Corporate bonds
Financial assets:
Trading debt securities:	4	5
Level 1 \| Municipal bonds
Financial assets:
Trading debt securities:	0	0
Level 1 \| Agency bonds
Financial assets:
Trading debt securities:	0
Level 1 \| Floating rate notes
Financial assets:
Trading debt securities:	0.2	0.2
Level 1 \| U.S. government securities
Financial assets:
Trading debt securities:	1.9	0.8
Level 1 \| Asset-backed securities
Financial assets:
Trading debt securities:	0	0
Level 1 \| Other
Financial assets:
Trading debt securities:	1.3	1.3
Level 1 \| Preferred stocks
Financial assets:
Trading equity securities:	0.3	0.3
Level 1 \| Equity Funds
Financial assets:
Trading equity securities:	0.6	0.6
Level 1 \| Supplemental Employee Retirement Plan and Non-Qualified Deferred Compensation Plan \| Mutual Fund
Financial assets:
Trading equity securities:	4	4.4
Level 2
Financial assets:
Derivative financial instruments	0.2
Total financial assets	7.9	6.4
Financial liabilities:
Deferred compensation programs' liabilities	5.7	5.7
Total financial liabilities	5.7	5.7
Level 2 \| Corporate bonds
Financial assets:
Trading debt securities:	0	0
Level 2 \| Municipal bonds
Financial assets:
Trading debt securities:	0.3	0.3
Level 2 \| Agency bonds
Financial assets:
Trading debt securities:	2.5
Level 2 \| Floating rate notes
Financial assets:
Trading debt securities:	0	0
Level 2 \| U.S. government securities
Financial assets:
Trading debt securities:	0	0
Level 2 \| Asset-backed securities
Financial assets:
Trading debt securities:	4.3	5.4
Level 2 \| Other
Financial assets:
Trading debt securities:	0.6	0.7
Level 2 \| Preferred stocks
Financial assets:
Trading equity securities:	0	0
Level 2 \| Equity Funds
Financial assets:
Trading equity securities:	0	0
Level 2 \| Supplemental Employee Retirement Plan and Non-Qualified Deferred Compensation Plan \| Mutual Fund
Financial assets:
Trading equity securities:	$ 0	$ 0

Product Warranty Reserves (Deta

Product Warranty Reserves (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Product Warranty Reserves (Details) - USD ($) $ in Millions	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Movement in Standard and Extended Product Warranty Accrual, Increase (Decrease) [Roll Forward]
Reserve balance, beginning of the period	$ 16.5	$ 11.6	$ 11.9	$ 10.5
Warranty liabilities accrued	3.8	2.9	14.4	9.3
Warranty liabilities settled	(3.6)	(3.4)	(9.6)	(8.6)
Other	0	(0.2)	0	(0.3)
Reserve balance, end of the period	$ 16.7	$ 10.9	$ 16.7	$ 10.9
Minimum
Standard Product Warranty Disclosure [Abstract]
Standard product warranty, warranty period			3 months
Maximum
Standard Product Warranty Disclosure [Abstract]
Standard product warranty, warranty period			2 years

Accrued Loss Reserves (Details)

Accrued Loss Reserves (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Accrued Loss Reserves [Abstract]
Liability for claims and claims adjustment expense	$ 7.1	$ 5.8
Self insurance reserve, noncurrent	$ 4.2	$ 3.9

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Income tax (benefit) provision	$ (0.6)	$ 0.7	$ 6.5	$ 0.8
Effective income tax rate reconciliation, percent	8.50%	58.30%	25.70%	53.30%
Unrecognized tax benefits	$ 12.7		$ 12.7		$ 12
Unrecognized tax benefits, period increase (decrease)			$ 0.7

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Millions		9 Months Ended	12 Months Ended
	Aug. 16, 2018	Sep. 30, 2023	Dec. 31, 2022	Oct. 05, 2023
Other Commitments [Line Items]
Contractual obligation		$ 0.9	$ 2.4
Percentage of potential contingent liability on unpaid balance		1.75%	1.75%
Maximum exposure		$ 0.1
Loss contingency accrual		0.5	$ 1
Loss contingency, estimate of possible loss		6.4
Minimum \| Subsequent Event
Other Commitments [Line Items]
Loss contingency, estimate of possible loss				$ 6.4
Maximum \| Subsequent Event
Other Commitments [Line Items]
Loss contingency, estimate of possible loss				$ 18.1
Pending Litigation
Other Commitments [Line Items]
Loss contingency, damages sought, value	$ 8.5
Letter of Credit Lender
Other Commitments [Line Items]
Amount of letters of credit outstanding		2.4
Contingent liabilities for letters of credit issued on behalf of foreign subsidiaries		4.5
Performance Guarantee
Other Commitments [Line Items]
Contingent liabilities for letters of credit issued on behalf of foreign subsidiaries		6.1
Revolving Credit Facility
Other Commitments [Line Items]
Line of credit facility, maximum borrowing capacity		$ 250

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Disaggregation of Revenue [Abstract]
Net sales	$ 303.1	$ 315.2	$ 1,001	$ 924.6
United States
Disaggregation of Revenue [Abstract]
Net sales	229.6	249.4	797.3	732.3
United States \| Equipment sales
Disaggregation of Revenue [Abstract]
Net sales	149.6	167.3	514.6	478.1
United States \| Parts and component sales
Disaggregation of Revenue [Abstract]
Net sales	70.9	68.2	224.2	210.2
United States \| Service and equipment installation revenue
Disaggregation of Revenue [Abstract]
Net sales	3.8	5.5	38.7	18.4
United States \| Used equipment sales
Disaggregation of Revenue [Abstract]
Net sales	0	3.2	2.6	5.2
United States \| Freight revenue
Disaggregation of Revenue [Abstract]
Net sales	7.1	7.4	23.8	24
United States \| Other
Disaggregation of Revenue [Abstract]
Net sales	(1.8)	(2.2)	(6.6)	(3.6)
Canada
Disaggregation of Revenue [Abstract]
Net sales	13.4	12.9	48.7	49.2
Australia
Disaggregation of Revenue [Abstract]
Net sales	20.6	10.8	44.4	31.3
Africa
Disaggregation of Revenue [Abstract]
Net sales	10.6	10.9	28.6	25.9
Europe
Disaggregation of Revenue [Abstract]
Net sales	8	9.1	24.5	22.4
Brazil
Disaggregation of Revenue [Abstract]
Net sales	8.3	7.7	22.1	18.5
South America (Excluding Brazil)
Disaggregation of Revenue [Abstract]
Net sales	5.1	4.5	14.4	17.1
Asia
Disaggregation of Revenue [Abstract]
Net sales	2.8	1.5	6.5	8.6
Mexico
Disaggregation of Revenue [Abstract]
Net sales	3.4	4.2	6.2	9.1
Central America (Excluding Mexico)
Disaggregation of Revenue [Abstract]
Net sales	0.5	3.9	3.6	7.5
Other
Disaggregation of Revenue [Abstract]
Net sales	0.8	0.3	4.7	2.7
International
Disaggregation of Revenue [Abstract]
Net sales	73.5	65.8	203.7	192.3
International \| Equipment sales
Disaggregation of Revenue [Abstract]
Net sales	50.1	41.8	129.1	119
International \| Parts and component sales
Disaggregation of Revenue [Abstract]
Net sales	19.1	19.7	61.5	62.9
International \| Service and equipment installation revenue
Disaggregation of Revenue [Abstract]
Net sales	2.9	2	7.8	5.2
International \| Used equipment sales
Disaggregation of Revenue [Abstract]
Net sales	0.4	1.3	1.8	2.1
International \| Freight revenue
Disaggregation of Revenue [Abstract]
Net sales	0.9	0.9	3.3	2.8
International \| Other
Disaggregation of Revenue [Abstract]
Net sales	0.1	0.1	0.2	0.3
Corporate and Other
Disaggregation of Revenue [Abstract]
Net sales	1.8	1.5	7.6	2.7
Corporate and Other \| United States
Disaggregation of Revenue [Abstract]
Net sales	0.9	1	3	1.1
Corporate and Other \| United States \| Equipment sales
Disaggregation of Revenue [Abstract]
Net sales	0.5	0.8	2.2	0.9
Corporate and Other \| United States \| Parts and component sales
Disaggregation of Revenue [Abstract]
Net sales	0.1	0.1	0.2	0.1
Corporate and Other \| United States \| Service and equipment installation revenue
Disaggregation of Revenue [Abstract]
Net sales	0	0	0.1	0
Corporate and Other \| United States \| Used equipment sales
Disaggregation of Revenue [Abstract]
Net sales	0	0	0	0
Corporate and Other \| United States \| Freight revenue
Disaggregation of Revenue [Abstract]
Net sales	0	0	0	0
Corporate and Other \| United States \| Other
Disaggregation of Revenue [Abstract]
Net sales	0.3	0.1	0.5	0.1
Corporate and Other \| International
Disaggregation of Revenue [Abstract]
Net sales	0.9	0.5	4.6	1.6
Corporate and Other \| International \| Equipment sales
Disaggregation of Revenue [Abstract]
Net sales	0.7	0.3	3.9	1.1
Corporate and Other \| International \| Parts and component sales
Disaggregation of Revenue [Abstract]
Net sales	0	0	0.1	0.1
Corporate and Other \| International \| Service and equipment installation revenue
Disaggregation of Revenue [Abstract]
Net sales	0.1	0.1	0.4	0.3
Corporate and Other \| International \| Used equipment sales
Disaggregation of Revenue [Abstract]
Net sales	0	0	0	0
Corporate and Other \| International \| Freight revenue
Disaggregation of Revenue [Abstract]
Net sales	0	0	0	0
Corporate and Other \| International \| Other
Disaggregation of Revenue [Abstract]
Net sales	0.1	0.1	0.2	0.1
Infrastructure Solutions
Disaggregation of Revenue [Abstract]
Net sales	190.8	201.9	638.8	609
Infrastructure Solutions \| United States
Disaggregation of Revenue [Abstract]
Net sales	153.8	166.1	532.9	503.1
Infrastructure Solutions \| United States \| Equipment sales
Disaggregation of Revenue [Abstract]
Net sales	94.4	105.9	314.6	315.2
Infrastructure Solutions \| United States \| Parts and component sales
Disaggregation of Revenue [Abstract]
Net sales	50.3	46.3	159.9	146.4
Infrastructure Solutions \| United States \| Service and equipment installation revenue
Disaggregation of Revenue [Abstract]
Net sales	3.6	5.2	38	17.8
Infrastructure Solutions \| United States \| Used equipment sales
Disaggregation of Revenue [Abstract]
Net sales	0	3.2	2.6	5.2
Infrastructure Solutions \| United States \| Freight revenue
Disaggregation of Revenue [Abstract]
Net sales	5.2	5.3	17.4	18.1
Infrastructure Solutions \| United States \| Other
Disaggregation of Revenue [Abstract]
Net sales	0.3	0.2	0.4	0.4
Infrastructure Solutions \| International
Disaggregation of Revenue [Abstract]
Net sales	37	35.8	105.9	105.9
Infrastructure Solutions \| International \| Equipment sales
Disaggregation of Revenue [Abstract]
Net sales	26.3	23.8	68.3	67.4
Infrastructure Solutions \| International \| Parts and component sales
Disaggregation of Revenue [Abstract]
Net sales	9.2	10.1	31.4	33.4
Infrastructure Solutions \| International \| Service and equipment installation revenue
Disaggregation of Revenue [Abstract]
Net sales	1	1	3.3	2.8
Infrastructure Solutions \| International \| Used equipment sales
Disaggregation of Revenue [Abstract]
Net sales	0	0.3	0.6	0.5
Infrastructure Solutions \| International \| Freight revenue
Disaggregation of Revenue [Abstract]
Net sales	0.5	0.6	2.3	1.8
Infrastructure Solutions \| International \| Other
Disaggregation of Revenue [Abstract]
Net sales	0	0	0	0
Materials Solutions
Disaggregation of Revenue [Abstract]
Net sales	110.5	111.8	354.6	312.9
Materials Solutions \| United States
Disaggregation of Revenue [Abstract]
Net sales	74.9	82.3	261.4	228.1
Materials Solutions \| United States \| Equipment sales
Disaggregation of Revenue [Abstract]
Net sales	54.7	60.6	197.8	162
Materials Solutions \| United States \| Parts and component sales
Disaggregation of Revenue [Abstract]
Net sales	20.5	21.8	64.1	63.7
Materials Solutions \| United States \| Service and equipment installation revenue
Disaggregation of Revenue [Abstract]
Net sales	0.2	0.3	0.6	0.6
Materials Solutions \| United States \| Used equipment sales
Disaggregation of Revenue [Abstract]
Net sales	0	0	0	0
Materials Solutions \| United States \| Freight revenue
Disaggregation of Revenue [Abstract]
Net sales	1.9	2.1	6.4	5.9
Materials Solutions \| United States \| Other
Disaggregation of Revenue [Abstract]
Net sales	(2.4)	(2.5)	(7.5)	(4.1)
Materials Solutions \| International
Disaggregation of Revenue [Abstract]
Net sales	35.6	29.5	93.2	84.8
Materials Solutions \| International \| Equipment sales
Disaggregation of Revenue [Abstract]
Net sales	23.1	17.7	56.9	50.5
Materials Solutions \| International \| Parts and component sales
Disaggregation of Revenue [Abstract]
Net sales	9.9	9.6	30	29.4
Materials Solutions \| International \| Service and equipment installation revenue
Disaggregation of Revenue [Abstract]
Net sales	1.8	0.9	4.1	2.1
Materials Solutions \| International \| Used equipment sales
Disaggregation of Revenue [Abstract]
Net sales	0.4	1	1.2	1.6
Materials Solutions \| International \| Freight revenue
Disaggregation of Revenue [Abstract]
Net sales	0.4	0.3	1	1
Materials Solutions \| International \| Other
Disaggregation of Revenue [Abstract]
Net sales	$ 0	$ 0	$ 0	$ 0.2

Revenue Recognition - Narrative

Revenue Recognition - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Contract assets	$ 3.6	$ 3.8
Contract with customer, liability	6.2	5.5
Extended Warranty Revenue
Disaggregation of Revenue [Line Items]
Deferred revenue	$ 2.6	$ 2.9

Segment Information- Narrative

Segment Information- Narrative (Details)	9 Months Ended
Segment Information- Narrative (Details)	Sep. 30, 2023 segment
Segment Reporting [Abstract]
Number of reportable segments	2

Segment Information - Summary o

Segment Information - Summary of Segment Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Revenue	$ 303.1	$ 315.2	$ 1,001	$ 924.6
Infrastructure Solutions
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Revenue	190.8	201.9	638.8	609
Materials Solutions
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Revenue	110.5	111.8	354.6	312.9
Operating Segments
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Revenue	303.1	315.2	1,001	924.6
Segment Operating Adjusted EBITDA	10.4	16.5	78.9	48.4
Operating Segments \| Infrastructure Solutions
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Revenue	190.8	201.9	638.8	609
Segment Operating Adjusted EBITDA	16.5	17.6	70.5	49.9
Operating Segments \| Materials Solutions
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Revenue	110.5	111.8	354.6	312.9
Segment Operating Adjusted EBITDA	8.3	13.1	41.9	34.8
Intersegment Eliminations
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Revenue	18.3	16	49.7	42.8
Intersegment Eliminations \| Infrastructure Solutions
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Revenue	4.3	1.9	8.2	7
Intersegment Eliminations \| Materials Solutions
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Revenue	14	14.1	40.9	35.8
Corporate and Other
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Revenue	1.8	1.5	7.6	2.7
Segment Operating Adjusted EBITDA	(14.4)	(14.2)	(33.5)	(36.3)
Corporate and Other
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Revenue	$ 0	$ 0	$ 0.6	$ 0

Segment Information - Reconcili

Segment Information - Reconciliation of Total Segment Profits to Consolidated Totals (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Segment Reconciliation [Abstract]
Total asset impairment charges	$ 0	$ (0.4)	$ (0.8)	$ (3.4)
(Loss) gain on sale of property and equipment, net	(0.4)	0.4	3.1	0.4
Income tax benefit (provision)	0.6	(0.7)	(6.5)	(0.8)
Net (income) loss attributable to noncontrolling interest	(0.1)	0.2	(0.2)	0.2
Net (loss) income attributable to controlling interest	(6.6)	0.7	18.6	0.9
Operating Segments
Segment Reconciliation [Abstract]
Segment Operating Adjusted EBITDA	10.4	16.5	78.9	48.4
Transformation program	(7.7)	(7)	(22.5)	(18.7)
Restructuring and other related charges	(0.1)	(0.1)	(7.6)	(1.5)
Total asset impairment charges	0	(0.4)	(0.8)	(3.4)
(Loss) gain on sale of property and equipment, net	(0.4)	0.4	3.1	0.4
Transaction costs	0	(0.5)	0	(1.9)
Interest expense, net	(1.9)	(0.3)	(4.9)	(0.9)
Depreciation and amortization	(7.1)	(7.3)	(19.6)	(20.9)
Income tax benefit (provision)	0.6	(0.7)	(6.5)	(0.8)
Net (income) loss attributable to noncontrolling interest	(0.1)	0.2	(0.2)	0.2
Intersegment Eliminations
Segment Reconciliation [Abstract]
Elimination of intercompany profit	$ (0.3)	$ (0.1)	$ (1.3)	$ 0

Strategic Transformation and _3

Strategic Transformation and Restructuring, Impairment and Other Asset Charges, net - Narrative (Details) - USD ($) $ in Millions	3 Months Ended					9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Restructuring charges:
Restructuring reserve	$ 0.2					$ 0.2		$ 4.7
Assets held for sale	0					0		15.4
Gain (loss) on disposition of property plant equipment	(0.4)			$ 0.4		3.1	$ 0.4
Total asset impairment charges	0			0.4		0.8	3.4
Costs associated with leadership change and overhead restructuring	0			0		7.3	0
Manufacturing Equipment
Restructuring charges:
Total asset impairment charges					$ 2.1
Internally Developed Software
Restructuring charges:
Total asset impairment charges		$ 0.8			$ 0.9
Tacoma Exit Plan
Restructuring charges:
Assets held for sale								$ 15.4
Tacoma Exit Plan \| Discontinued Operations, Disposed of by Sale
Restructuring charges:
Disposal group, including discontinued operation, consideration			$ 19.9
Gain (loss) on disposition of property plant equipment			3.4
Operating Segments
Restructuring charges:
Transformation program	(7.7)			(7)		(22.5)	(18.7)
Gain (loss) on disposition of property plant equipment	(0.4)			0.4		3.1	0.4
Total asset impairment charges	0			0.4		0.8	3.4
Strategic Transformation Initiatives
Restructuring charges:
Transformation program	(7.8)					(22.8)
Strategic Transformation Initiatives \| Selling, General and Administrative Expenses
Restructuring charges:
Transformation program	(7.7)			(7)		(22.6)	(18.7)
Strategic Transformation Initiatives \| Cost of Sales
Restructuring charges:
Transformation program	(0.1)					(0.2)
Facility Closing \| Tacoma Exit Plan
Restructuring charges:
Business exit costs	0			0		0	0.8
Facility Closing \| Enid Exit Plan
Restructuring charges:
Business exit costs	$ 0.1			0.1		0.3	$ 0.7
Total asset impairment charges				$ 0.4
Other Restructuring
Restructuring charges:
Share-based payment arrangement, recovery of expense		0.2	0.8			1
Restructuring and related cost, incurred cost		$ 0.3	5.2			$ 5.5
Other Restructuring \| Chief Executive Officer
Restructuring charges:
Costs associated with leadership change and overhead restructuring			1.8
Share-based payment arrangement, recovery of expense			$ 1.6

Strategic Transformation and _4

Strategic Transformation and Restructuring, Impairment and Other Asset Charges, net - Restructuring and the Net Gain on Sale of Property and Equipment (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Restructuring charges:
Costs associated with leadership change and overhead restructuring	$ 0	$ 0	$ 7.3	$ 0
Total restructuring related charges	0.1	0.1	7.6	1.5
Other impairment charges	0	0.4	0.8	3.4
Total asset impairment charges	0	0.4	0.8	3.4
Loss (gain) on sale of property and equipment, net
Loss (gain) on sale of property and equipment, net	0.4	(0.4)	(3.1)	(0.4)
Total loss (gain) on sale of property and equipment, net	0.4	(0.4)	(3.1)	(0.4)
Restructuring, impairment and other asset charges, net	0.5	0.1	5.3	4.5
Facility Closing \| Enid Exit Plan
Restructuring charges:
Business exit costs	0.1	0.1	0.3	0.7
Total asset impairment charges		0.4
Facility Closing \| Tacoma Exit Plan
Restructuring charges:
Business exit costs	$ 0	$ 0	$ 0	$ 0.8

Strategic Transformation and _5

Strategic Transformation and Restructuring, Impairment and Other Asset Charges, net - Restructuring Charge by Segment (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Restructuring charges:
Total restructuring related charges	$ 0.1	$ 0.1	$ 7.6	$ 1.5
Corporate and Other
Restructuring charges:
Total restructuring related charges	0	0	7.2	0
Infrastructure Solutions \| Operating Segments
Restructuring charges:
Total restructuring related charges	$ 0.1	$ 0.1	$ 0.4	$ 1.5

Strategic Transformation and _6

Strategic Transformation and Restructuring, Impairment and Other Asset Charges, net - Impairment Charges by Segment (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Restructuring charges:
Total asset impairment charges	$ 0	$ 0.4	$ 0.8	$ 3.4
Operating Segments
Restructuring charges:
Total asset impairment charges	0	0.4	0.8	3.4
Corporate and Other
Restructuring charges:
Total asset impairment charges	0	0	0.8	0.9
Infrastructure Solutions \| Operating Segments
Restructuring charges:
Total asset impairment charges	$ 0	$ 0.4	$ 0	$ 2.5

Strategic Transformation and _7

Strategic Transformation and Restructuring, Impairment and Other Asset Charges, net - Sale of Fixed Assets by Segment (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Restructuring charges:
Total loss (gain) on sale of property and equipment, net	$ 0.4	$ (0.4)	$ (3.1)	$ (0.4)
Operating Segments
Restructuring charges:
Total loss (gain) on sale of property and equipment, net	0.4	(0.4)	(3.1)	(0.4)
Corporate and Other
Restructuring charges:
Total loss (gain) on sale of property and equipment, net	0	0	(0.1)	0
Infrastructure Solutions \| Operating Segments
Restructuring charges:
Total loss (gain) on sale of property and equipment, net	$ 0.4	$ (0.4)	$ (3)	$ (0.4)

(Loss) Earnings Per Common Sh_3

(Loss) Earnings Per Common Share (Details) - shares	3 Months Ended		9 Months Ended
(Loss) Earnings Per Common Share (Details) - shares	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Denominator:
Denominator for basic earnings per common share	22,746,783	22,837,314	22,709,238	22,824,028
Effect of dilutive securities	0	79,002	66,920	108,178
Denominator for diluted earnings per common share	22,746,783	22,916,316	22,776,158	22,932,206
Antidilutive restricted stock units excluded from the calculation of diluted earnings per share (in shares)	67,408	124,229	9,345	32,218