Astec Industries (ASTE) 10-Q 5 May 22 2022 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2022	Apr. 29, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
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		22,842,202
Entity Central Index Key	0000792987
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Current assets:
Cash, cash equivalents and restricted cash	$ 111.7	$ 134.4
Investments	6.1	8.6
Trade receivables and contract assets, net of allowance for credit losses of $2.5 and $2.3, respectively	137.9	141.7
Other receivables, net of allowance for credit losses of $0.7, respectively	4.8	3.5
Inventories	352.9	298.7
Prepaid and refundable income taxes	16.5	20.5
Prepaid expenses and other assets	25.3	23.5
Assets held for sale	20.5	5.1
Total current assets	675.7	636
Property and equipment, net of accumulated depreciation of $247.2 and $248.0, respectively	164	171.7
Investments	13.8	12.2
Goodwill	38.2	38.6
Intangible assets, net of accumulated amortization of $39.9 and $38.1, respectively	21	22.7
Deferred income tax assets	20.7	16.2
Other long-term assets	10	8.4
Total assets	943.4	905.8
Current liabilities:
Current maturities of long-term debt	0.2	0.1
Short-term debt	4.9	2.6
Accounts payable	99.7	82.2
Customer deposits	69.8	60.2
Accrued product warranty	11.3	10.5
Accrued payroll and related liabilities	27.4	23.6
Accrued loss reserves	2.2	1.9
Other current liabilities	41	42.2
Total current liabilities	256.5	223.3
Long-term debt	0.2	0.2
Deferred income tax liabilities	1.2	1.4
Other long-term liabilities	28.1	29.6
Total liabilities	286	254.5
Commitments and contingencies (Note 8)
Shareholders' equity:
Preferred stock - authorized 4,000,000 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 – 22,837,047 as of March 31, 2022 and 22,767,052 as of December 31, 2021	4.6	4.5
Additional paid-in capital	131.1	130.6
Accumulated other comprehensive loss	(28.3)	(32.4)
Company stock held by deferred compensation programs, at cost	(1.2)	(1.2)
Retained earnings	550.6	549.3
Shareholders' equity	656.8	650.8
Noncontrolling interest	0.6	0.5
Total equity	657.4	651.3
Total liabilities and equity	$ 943.4	$ 905.8

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
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	(247.2)	(248)
Accumulated amortization	$ (39.9)	$ 38.1
Preferred stock, shares authorized	4,000,000	4,000,000
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	22,837,047	22,767,052
Common stock, shares outstanding	22,837,047	22,767,052

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Statement [Abstract]
Net sales	$ 291.2	$ 284.4
Cost of sales	225.1	216.2
Gross profit	66.1	68.2
Selling, general and administrative expenses	52.7	51.7
Research and development expenses	7	6.3
Restructuring, impairment and other asset charges, net	1	0.7
Income from operations	5.4	9.5
Other income:
Interest expense	(0.4)	(0.2)
Interest income	0.2	0.1
Other	(0.2)	(0.1)
Income from operations before income taxes	5	9.3
Income tax provision	0.9	0.8
Net income	4.1	8.5
Net (income) loss attributable to non-controlling interest	0	0
Net income attributable to controlling interest	$ 4.1	$ 8.5
Per share data:
Earnings per common share - Basic (in dollars per share)	$ 0.18	$ 0.38
Earnings per common share - Diluted (in dollars per share)	$ 0.18	$ 0.37
Weighted average shares outstanding - Basic	22,782,476	22,633,457
Weighted average shares outstanding - Diluted	22,904,167	22,874,810

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 4.1	$ 8.5
Other comprehensive income (loss):
Foreign currency translation adjustments	4.2	(0.8)
Other comprehensive income (loss)	4.2	(0.8)
Comprehensive income	8.3	7.7
Comprehensive (income) loss attributable to noncontrolling interest	(0.1)	0.1
Comprehensive income attributable to controlling interest	$ 8.2	$ 7.8

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended			6 Months Ended	9 Months Ended	12 Months Ended
	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2021	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020
Cash flows from operating activities:
Net income	$ 4.1	$ 8.3	$ 8.5	$ 16.8	$ 25.8	$ 15.9	$ 46
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Depreciation and amortization	6.7		7.6
Provision for credit losses	0.6		0.3
Provision for warranties	3.2		2.7
Deferred compensation (benefit) expense	(0.8)		0.7
Share-based compensation	1.8		1.4
Deferred tax (benefit) provision	(4)		0.8
Gain on disposition of property and equipment	0		(0.1)
Distributions to deferred compensation programs' participants	(0.1)		(0.3)
Change in operating assets and liabilities, excluding the effects of acquisitions:
Sale (purchase) of trading securities, net	0.6		(1.4)
Receivables and other contract assets	5.3		(26.4)	(32.5)	(30.2)	(28.4)	12.2
Inventories	(53.7)		5.3	(6.6)	(32.3)	(51.5)	45.9
Prepaid expenses	(1)		0.7
Other assets	(1.4)		(1.2)
Accounts payable	17.3		15.8			29.5	(8.6)
Accrued loss reserves	(0.2)		0.1
Accrued payroll and related expenses	3.6		2.6
Other accrued liabilities	(2.9)		(0.3)		9.7	(1.4)	9.8
Accrued product warranty	(2.4)		(2.1)
Customer deposits	9.3		(0.9)
Income taxes payable/prepaid	4.4		0.8	(7.3)	(6.1)	(14.3)	15.7
Net cash (used in) provided by operating activities	(9.6)		14.6
Cash flows from investing activities:
Acquisitions, net of cash acquired	0		0.1
Price adjustment on prior sale of subsidiary	0		(1.1)
Expenditures for property and equipment	(11.6)		(3.3)
Proceeds from sale of property and equipment	0.2		1.4
Purchase of investments	(0.3)		(0.2)
Sale of investments	0		0.1
Net cash used in investing activities	(11.7)		(3)
Cash flows from financing activities:
Payment of dividends	(2.8)		(2.5)
Borrowings under bank loans	5.4		2
Repayment of bank loans	(3.6)		(2.3)
Sale of Company stock by deferred compensation programs, net	0		0.2
Withholding tax paid upon vesting of share-based compensation awards	(1.3)		(3)
Net cash used in financing activities	(2.3)		(5.6)
Effect of exchange rates on cash	0.9		0
(Decrease) increase in cash and cash equivalents and restricted cash	(22.7)		6
Cash and cash equivalents and restricted cash, beginning of period	134.4	$ 164.6	158.6	$ 158.6	$ 158.6	158.6
Cash and cash equivalents and restricted cash, end of period	111.7		164.6			$ 134.4	$ 158.6
Cash paid during the year for:
Interest, net of capitalized interest	0.1		0.1
Income taxes paid	0.4		0.2
Non-cash investing activities:
Capital expenditures in accounts payable	0.9		0.2
Non-cash financing activities:
Additions to right-of-use assets and lease liabilities	$ 0.4		$ 0.5

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 SERP	Retained Earnings	Non-controlling Interest
Balance at Dec. 31, 2019	$ 601.8					$ 507.7
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	46
Balance (in shares) at Dec. 31, 2020		22,611,976
Balance at Dec. 31, 2020	641.5	$ 4.5	$ 127.8	$ (33.5)	$ (1.5)	543.7	$ 0.5
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	8.5					8.5	0
Other comprehensive income (loss)	(0.8)			(0.7)			(0.1)
Dividends	(2.5)					(2.5)
Share-based compensation	1.4		1.4
Issuance of common stock under incentive plan (in shares)		103,541
Withholding tax paid upon equity award vesting	(3)		(3)
Deferred compensation programs' transactions, net	0.2		0.1		0.1
Balance (in shares) at Mar. 31, 2021		22,715,517
Balance at Mar. 31, 2021	645.3	$ 4.5	126.3	(34.2)	(1.4)	549.7	0.4
Balance (in shares) at Dec. 31, 2020		22,611,976
Balance at Dec. 31, 2020	641.5	$ 4.5	127.8	(33.5)	(1.5)	543.7	0.5
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	16.8
Balance at Jun. 30, 2021	656.9					555.5
Balance (in shares) at Dec. 31, 2020		22,611,976
Balance at Dec. 31, 2020	641.5	$ 4.5	127.8	(33.5)	(1.5)	543.7	0.5
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	25.8
Balance at Sep. 30, 2021	660.4					562
Balance (in shares) at Dec. 31, 2020		22,611,976
Balance at Dec. 31, 2020	641.5	$ 4.5	127.8	(33.5)	(1.5)	543.7	0.5
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 15.9
Balance (in shares) at Dec. 31, 2021	22,767,052	22,767,052
Balance at Dec. 31, 2021	$ 651.3	$ 4.5	130.6	(32.4)	(1.2)	549.3	0.5
Balance (in shares) at Mar. 31, 2021		22,715,517
Balance at Mar. 31, 2021	645.3	$ 4.5	126.3	(34.2)	(1.4)	549.7	0.4
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	8.3
Balance at Jun. 30, 2021	656.9					555.5
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	9
Balance at Sep. 30, 2021	$ 660.4					562
Balance (in shares) at Dec. 31, 2021	22,767,052	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	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	22,837,047
Balance at Mar. 31, 2022	$ 657.4	$ 4.6	$ 131.1	$ (28.3)	$ (1.2)	$ 550.6	$ 0.6

Consolidated Statements of Eq_2

Consolidated Statements of Equity (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Stockholders' Equity [Abstract]
Dividends declared per common share (in dollars per share)	$ 0.12	$ 0.11

Basis of Presentation and Signi

Basis of Presentation and Significant Accounting Policies	3 Months Ended
	Mar. 31, 2022
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) - 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 category consists primarily of the parent company and Astec Insurance Company ("Astec Insurance" or the "captive"), a captive insurance company, 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, 2021. 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 non-controlling 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 consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting periods. Significant items subject to such estimates and assumptions include inventory obsolescence costs, warranty costs, inventory net realizable value, self-insurance loss reserves, share-based compensation 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. The COVID-19 pandemic and its contributory impacts on the economy have resulted in uncertainties in the Company's business, which may result in actual results differing from those estimates. As a result, the Company's accounting estimates and assumptions may change over time in response to COVID-19 and its contributory impacts. Such changes could result in future impairments of goodwill, intangibles, long-lived assets and investment securities and incremental credit losses on receivables, among other issues. On an ongoing basis, the Company evaluates these assumptions, judgments and estimates. Actual results may differ from these estimates. As discussed in Note 2. Immaterial Error Correction, the Company identified certain immaterial errors during the first quarter of 2022 for which the prior period and all relevant footnotes to the consolidated financial statements in this Form 10-Q have been revised to reflect the corrected balances. In the opinion of management, the consolidated financial statements contain all adjustments necessary for a fair statement of the results of operations and comprehensive income (loss) for the three months ended March 31, 2022 and 2021, the financial position as of March 31, 2022 and December 31, 2021 and the cash flows for the three months ended March 31, 2022 and 2021, 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. Recently Adopted Accounting Pronouncements In November 2021, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2021-10, "Government Assistance (Topic 832)", which aims to increase the transparency of government assistance including the disclosure of the types of assistance, an entity’s accounting for the assistance and the effect of the assistance on an entity’s financial statements. The new guidance requires expanded disclosure about transactions with a government that are accounted for by applying a grant or contribution accounting model by analogy. This new standard was effective for the Company on January 1, 2022. Availability of government assistance has typically been limited. The Company did not receive any government assistance in 2022. Recently Issued Accounting Pronouncements Not Yet Adopted In March 2020, the FASB issued ASU 2020-04, "Reference Rate Reform (Topic 848)", which provides optional guidance for a limited period of time to ease the potential burden in accounting (or recognizing the effects of) reference rate reform on financial reporting. This was in response to stakeholders raising certain operational challenges likely to arise in accounting for contract modifications and hedge accounting because of reference rate reform. Some of those challenges relate to the significant volume of contracts and other arrangements, such as debt agreements, lease agreements and derivative instruments, which will be modified to replace references to discontinued rates with references to replacement rates. For accounting purposes, such contract modifications are required to be evaluated in determining whether the modifications result in the establishment of new contracts or the continuation of existing contracts. Stakeholders indicated that due to the significant volume of affected contracts and other arrangements, together with a compressed time frame for making contract modifications, the application of existing accounting standards on assessing modifications versus extinguishments could be costly and burdensome. In addition, stakeholders indicated that financial reporting results should reflect the intended continuation of such contracts and arrangements during the period of the market-wide transition to alternative reference rates. The amendments are elective and are effective upon issuance through December 31, 2022. The Company intends to apply this guidance if modifications of its contracts that include LIBOR occur, which is not expected to have a material impact on the Company's consolidated financial statements. In October 2021, the FASB issued 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 ASC 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 is evaluating the impact of adopting this guidance on future acquisitions and may elect to early adopt, but has not yet finalized that election. Recent accounting guidance not discussed above is not applicable, did not have, or is not expected to have a material impact on the Company.

Immaterial Error Correction

Immaterial Error Correction	3 Months Ended
	Mar. 31, 2022
Accounting Changes and Error Corrections [Abstract]
Immaterial Error Correction	Immaterial Error Correction During the first quarter of 2022, the Company identified errors in its previously issued financial statements related to an overstatement of work-in-process inventory that mainly accumulated over the periods from 2018 through 2021 thereby understating "Cost of sales" in those periods and an overstatement of "Net sales" and "Cost of sales" as well as impacts to certain consolidated balance sheet financial statement line items as a result of over-time revenue recognition calculation errors at one of the Company's sites which impacted the second, third and fourth quarters of 2021. The Company assessed the materiality of these misstatements both quantitatively and qualitatively and determined the correction of these errors to be immaterial to the prior period consolidated financial statements taken as a whole. To reflect the correction of the above errors, the Company is revising the previously issued consolidated financial statements for the three months ended March 31, 2021 in this Form 10-Q. The Company is also disclosing the impact of the revisions on the previously filed unaudited consolidated financial statements for the three and six months ended June 30, 2021 and the three and nine months ended September 30, 2021 as well as the previously filed audited year ended periods as of December 31, 2021 and 2020 and the opening balance sheet equity impact for December 31, 2019. As a result, the Company has corrected the misstatements as disclosed in the following tables for all impacted financial statement line items in prior periods. Balance Sheet December 31, 2021 (in millions) As Previously Reported Adjustment As Revised Trade receivables and contract assets, net $ 144.1 $ (2.4) $ 141.7 Inventories 303.0 (4.3) 298.7 Prepaid and refundable income taxes 19.5 1.0 20.5 Total current assets 641.7 (5.7) 636.0 Deferred income tax assets 16.0 0.2 16.2 Total assets 911.3 (5.5) 905.8 Accounts payable 83.5 (1.3) 82.2 Other current liabilities 42.9 (0.7) 42.2 Total current liabilities 225.3 (2.0) 223.3 Total liabilities 256.5 (2.0) 254.5 Retained earnings 552.8 (3.5) 549.3 Shareholders' equity 654.3 (3.5) 650.8 Total equity 654.8 (3.5) 651.3 Total liabilities and equity 911.3 (5.5) 905.8 Statement of Operations Three Months Ended March 31, 2021 (in millions) As Previously Reported Adjustment As Revised Cost of sales $ 215.9 $ 0.3 $ 216.2 Gross profit 68.5 (0.3) 68.2 Income from operations 9.8 (0.3) 9.5 Income from operations before income taxes 9.6 (0.3) 9.3 Income tax provision 0.9 (0.1) 0.8 Net income 8.7 (0.2) 8.5 Net income attributable to controlling interest 8.7 (0.2) 8.5 Per share data: Earnings per common share - Basic 0.38 — 0.38 Earnings per common share - Diluted 0.38 0.01 0.37 Three Months Ended June 30, 2021 Six Months Ended June 30, 2021 (in millions) As Previously Reported Adjustment As Revised As Previously Reported Adjustment As Revised Net sales $ 278.0 $ (0.4) $ 277.6 $ 562.4 $ (0.4) $ 562.0 Cost of sales 211.0 0.5 211.5 426.9 0.8 427.7 Gross profit 67.0 (0.9) 66.1 135.5 (1.2) 134.3 Income from operations 11.2 (0.9) 10.3 21.0 (1.2) 19.8 Income from operations before income taxes 11.3 (0.9) 10.4 20.9 (1.2) 19.7 Income tax provision 2.3 (0.2) 2.1 3.2 (0.3) 2.9 Net income 9.0 (0.7) 8.3 17.7 (0.9) 16.8 Net income attributable to controlling interest 9.0 (0.7) 8.3 17.7 (0.9) 16.8 Per share data: Earnings per common share - Basic 0.40 0.04 0.36 0.78 0.04 0.74 Earnings per common share - Diluted 0.39 0.03 0.36 0.77 0.04 0.73 Three Months Ended September 30, 2021 Nine Months Ended September 30, 2021 (in millions) As Previously Reported Adjustment As Revised As Previously Reported Adjustment As Revised Net sales $ 267.0 $ (0.1) $ 266.9 $ 829.4 $ (0.5) $ 828.9 Cost of sales 204.7 0.3 205.0 631.6 1.1 632.7 Gross profit 62.3 (0.4) 61.9 197.8 (1.6) 196.2 Income from operations 6.7 (0.4) 6.3 27.7 (1.6) 26.1 Income from operations before income taxes 6.5 (0.4) 6.1 27.4 (1.6) 25.8 Income tax provision (2.8) (0.1) (2.9) 0.4 (0.4) — Net income 9.3 (0.3) 9.0 27.0 (1.2) 25.8 Net income attributable to controlling interest 9.3 (0.3) 9.0 27.0 (1.2) 25.8 Per share data: Earnings per common share - Basic 0.41 0.01 0.40 1.19 0.05 1.14 Earnings per common share - Diluted 0.41 0.02 0.39 1.18 0.05 1.13 Year Ended December 31, 2021 Year Ended December 31, 2020 (in millions) As Previously Reported Adjustment As Revised As Previously Reported Adjustment As Revised Net sales $ 1,097.2 $ (1.7) $ 1,095.5 $ 1,024.4 $ — $ 1,024.4 Cost of sales 845.5 1.0 846.5 784.3 1.2 785.5 Gross profit 251.7 (2.7) 249.0 240.1 (1.2) 238.9 Income from operations 22.1 (2.7) 19.4 43.0 (1.2) 41.8 Income from operations before income taxes 16.5 (2.7) 13.8 45.7 (1.2) 44.5 Income tax provision (1.4) (0.7) (2.1) (1.2) (0.3) (1.5) Net income 17.9 (2.0) 15.9 46.9 (0.9) 46.0 Net income attributable to controlling interest 17.8 (2.0) 15.8 46.9 (0.9) 46.0 Per share data: Earnings per common share - Basic 0.78 0.08 0.70 2.08 0.04 2.04 Earnings per common share - Diluted 0.78 0.09 0.69 2.05 0.04 2.01 Statements of Comprehensive Income Three Months Ended March 31, 2021 (in millions) As Previously Reported Adjustment As Revised Net income $ 8.7 $ (0.2) $ 8.5 Comprehensive income 7.9 (0.2) 7.7 Comprehensive income attributable to controlling interest 8.0 (0.2) 7.8 Three Months Ended June 30, 2021 Six Months Ended June 30, 2021 (in millions) As Previously Reported Adjustment As Revised As Previously Reported Adjustment As Revised Net income $ 9.0 $ (0.7) $ 8.3 $ 17.7 $ (0.9) $ 16.8 Comprehensive income 13.1 (0.7) 12.4 21.0 (0.9) 20.1 Comprehensive income attributable to controlling interest 13.2 (0.7) 12.5 21.0 (0.9) 20.1 Three Months Ended September 30, 2021 Nine Months Ended September 30, 2021 As Previously Reported Adjustment As Revised As Previously Reported Adjustment As Revised Net income $ 9.3 $ (0.3) $ 9.0 $ 27.0 $ (1.2) $ 25.8 Comprehensive income 4.8 (0.3) 4.5 25.8 (1.2) 24.6 Comprehensive income attributable to controlling interest 4.9 (0.3) 4.6 25.9 (1.2) 24.7 Year Ended December 31, 2021 Year Ended December 31, 2020 As Previously Reported Adjustment As Revised As Previously Reported Adjustment As Revised Net income $ 17.9 $ (2.0) $ 15.9 $ 46.9 $ (0.9) $ 46.0 Comprehensive income 18.9 (2.0) 16.9 45.2 (0.9) 44.3 Comprehensive income attributable to controlling interest 18.9 (2.0) 16.9 45.2 (0.9) 44.3 Statement of Cash Flow Three Months Ended March 31, 2021 (in millions) As Previously Reported Adjustment As Revised Net income $ 8.7 $ (0.2) $ 8.5 Inventories 5.0 0.3 5.3 Income taxes payable/prepaid 0.9 (0.1) 0.8 Six Months Ended June 30, 2021 (in millions) As Previously Reported Adjustment As Revised Net income $ 17.7 $ (0.9) $ 16.8 Receivables and other contract assets (32.9) 0.4 (32.5) Inventories (7.4) 0.8 (6.6) Income taxes payable/prepaid (7.0) (0.3) (7.3) Nine Months Ended September 30, 2021 (in millions) As Previously Reported Adjustment As Revised Net income $ 27.0 $ (1.2) $ 25.8 Receivables and other contract assets (31.3) 1.1 (30.2) Inventories (33.4) 1.1 (32.3) Other accrued liabilities 10.3 (0.6) 9.7 Income taxes payable/prepaid (5.7) (0.4) (6.1) Year Ended December 31, 2021 Year Ended December 31, 2020 As Previously Reported Adjustment As Revised As Previously Reported Adjustment As Revised Net income $ 17.9 $ (2.0) $ 15.9 $ 46.9 $ (0.9) $ 46.0 Receivables and other contract assets (30.8) 2.4 (28.4) 12.2 — 12.2 Inventories (53.8) 2.3 (51.5) 44.7 1.2 45.9 Accounts payable 30.8 (1.3) 29.5 (8.6) — (8.6) Other accrued liabilities (0.7) (0.7) (1.4) 9.8 — 9.8 Income taxes payable/prepaid (13.6) (0.7) (14.3) 16.0 (0.3) 15.7 Statement of Equity As Previously Reported Adjustment As Revised Balance, December 31, 2019 Retained Earnings $ 508.3 $ (0.6) $ 507.7 Total Equity 602.4 (0.6) 601.8 Balance, December 31, 2020 Retained Earnings 545.2 (1.5) 543.7 Total Equity 643.0 (1.5) 641.5 Balance, March 31, 2021 Retained Earnings 551.4 (1.7) 549.7 Total Equity 647.0 (1.7) 645.3 Balance, June 30, 2021 Retained Earnings 557.9 (2.4) 555.5 Total Equity 659.3 (2.4) 656.9 Balance, September 30, 2021 Retained Earnings 564.7 (2.7) 562.0 Total Equity 663.1 (2.7) 660.4 Balance, December 31, 2021 Retained Earnings 552.8 (3.5) 549.3 Total Equity 654.8 (3.5) 651.3

Inventories

Inventories	3 Months Ended
	Mar. 31, 2022
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) March 31, 2022 December 31, 2021 Raw materials and parts $ 246.9 $ 216.1 Work-in-process 71.5 50.4 Finished goods 32.1 28.9 Used equipment 2.4 3.3 Total $ 352.9 $ 298.7

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value MeasurementsThe 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 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, short-term debt 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 March 31, 2022 and December 31, 2021 are Level 1 and Level 2 in the fair value hierarchy as defined above: March 31, 2022 (in millions) Level 1 Level 2 Total Financial assets: Trading equity securities: Deferred compensation programs' mutual funds $ 4.8 $ — $ 4.8 Preferred stocks 0.3 — 0.3 Equity funds 1.2 — 1.2 Trading debt securities: Corporate bonds 4.4 — 4.4 Municipal bonds — 0.1 0.1 Floating rate notes 0.4 — 0.4 U.S. government securities 1.1 — 1.1 Asset-backed securities — 5.0 5.0 Other 1.7 0.9 2.6 Total financial assets $ 13.9 $ 6.0 $ 19.9 Financial liabilities: Derivative financial instruments $ — $ 0.3 $ 0.3 Deferred compensation programs' liabilities — 6.3 6.3 Total financial liabilities $ — $ 6.6 $ 6.6 December 31, 2021 (in millions) Level 1 Level 2 Total Financial assets: Trading equity securities: Deferred compensation programs' mutual funds $ 4.9 $ — $ 4.9 Preferred stocks 0.3 — 0.3 Equity funds 3.0 — 3.0 Trading debt securities: Corporate bonds 3.3 — 3.3 Municipal bonds — 0.2 0.2 Floating rate notes 0.4 — 0.4 U.S. government securities 1.1 — 1.1 Asset-backed securities — 3.5 3.5 Other 3.1 1.0 4.1 Derivative financial instruments — 0.1 0.1 Total financial assets $ 16.1 $ 4.8 $ 20.9 Financial liabilities: Deferred compensation programs' liabilities $ — $ 7.2 $ 7.2 Total financial liabilities $ — $ 7.2 $ 7.2

Product Warranty Reserves

Product Warranty Reserves	3 Months Ended
	Mar. 31, 2022
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 month periods ended March 31, 2022 and 2021 are as follows: Three Months Ended March 31, (in millions) 2022 2021 Reserve balance, beginning of the period $ 10.5 $ 10.3 Warranty liabilities accrued 3.2 2.7 Warranty liabilities settled (2.4) (2.1) Reserve balance, end of the period $ 11.3 $ 10.9

Accrued Loss Reserves

Accrued Loss Reserves	3 Months Ended
	Mar. 31, 2022
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 $5.7 million and $5.8 million at March 31, 2022 and December 31, 2021 respectively, of which $3.5 million and $3.9 million were included in "Other long-term liabilities" in the Consolidated Balance Sheets at March 31, 2022 and December 31, 2021, respectively.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income TaxesFor the three months ended March 31, 2022, the Company recorded an income tax expense of $0.9 million, reflecting a 18.0% effective tax rate, compared to a $0.8 million income tax expense for the three months ended March 31, 2021, reflecting a 8.6% effective tax rate. The income tax expense for three months ended March 31, 2022 was higher compared to the same period in 2021 primarily due to lower net discrete benefits from the vesting of employee shared-based compensation awards offset by an increased net benefit for foreign-derived income.The Company's recorded liability for uncertain tax positions was $11.1 million and $10.8 million as of March 31, 2022 and December 31, 2021, respectively. The increase is the result of $0.3 million of incremental reserves associated with a higher research and development credit for 2022. 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 March 31, 2022, 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.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2022
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 in which the Company is contingently liable for customer debt of $2.5 million and $2.4 million at March 31, 2022 and December 31, 2021, respectively. These arrangements expire at various dates through June 2025. 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 $0.2 million for 2022), 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 equipment financed if the Company is required to fulfill its contingent liability under these arrangements. The Company has recorded a liability of $1.0 million and $1.1 million related to these guarantees which were included in "Other current liabilities" in the Consolidated Balance Sheets as of March 31, 2022 and December 31, 2021, respectively. The Company reviews off-balance sheet guarantees individually and at the loss pool level based on one agreement. Prior history is considered in regard to the Company having to perform on any off-balance sheet guarantees, as well as future projections of individual customer credit worthiness including consideration of the implications of COVID-19 in regard to assessing credit losses related to off-balance sheet guarantees. In addition, the Company is contingently liable under letters of credit issued under its $150.0 million revolving credit facility (the "Credit Facility") totaling $2.5 million as of March 31, 2022. The outstanding letters of credit expire at various dates through June 2023. The maximum potential amount of future payments under letters of credit issued under the Credit Facility for which the Company could be liable is $30.0 million as of March 31, 2022. As of March 31, 2022, the Company's foreign subsidiaries are contingently liable for a total of $2.5 million in letters of credit and bank guarantees securing performance and advance payments. The maximum potential amount of future payments under these letters of credit and bank guarantees for which the Company could be liable is $7.9 million as of March 31, 2022. 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 was 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 alleged 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 was filed on behalf of shareholders who purchased stock of the Company between July 26, 2016 and October 22, 2018 and sought monetary damages on behalf of the purported class. The Company disputed these allegations and filed a motion to dismiss the lawsuit on October 25, 2019. 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. On June 4, 2021, plaintiff filed a notice of appeal 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 its 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. The Company's 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. GEFCO disputes the plaintiff's allegations and intends to defend this lawsuit vigorously. On July 7, 2020, the plaintiffs filed a separate lawsuit directly against Astec Industries, Inc. Besides a new claim based on fraudulent transfer, the allegations essentially mirror the GEFCO suit. Astec Industries, Inc. is vigorously defending this suit as well. 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. The Company is subject to various claims and legal proceedings in the ordinary course of its business. If management believes that a loss arising from such claims and legal proceedings is probable and can reasonably be estimated, the Company records the amount of the loss (excluding estimated legal fees) or the minimum estimated liability when the loss is estimated using a range and no point within the range is more probable than another. 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	3 Months Ended
	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition The following tables disaggregate the Company's revenue by major source for the three month periods ended March 31, 2022 and 2021 (excluding intercompany sales): Three Months Ended March 31, 2022 Three Months Ended March 31, 2021 (in millions) Infrastructure Materials Total Infrastructure Materials Total Net Sales-Domestic: Equipment sales $ 95.2 $ 45.6 $ 140.8 $ 99.2 $ 41.8 $ 141.0 Parts and component sales 56.4 20.8 77.2 51.9 17.7 69.6 Service and equipment installation revenue 6.7 0.2 6.9 5.8 0.1 5.9 Used equipment sales 1.7 — 1.7 2.9 — 2.9 Freight revenue 6.6 1.6 8.2 5.6 1.5 7.1 Other 0.1 (0.4) (0.3) (0.4) (0.5) (0.9) Total domestic revenue 166.7 67.8 234.5 165.0 60.6 225.6 Net Sales-International: Equipment sales 16.6 14.7 31.3 21.3 12.8 34.1 Parts and component sales 12.3 9.7 22.0 13.1 7.7 20.8 Service and equipment installation revenue 1.2 0.7 1.9 1.0 0.5 1.5 Used equipment sales 0.2 0.5 0.7 0.1 0.8 0.9 Freight revenue 0.5 0.3 0.8 0.8 0.3 1.1 Other — — — 0.2 0.2 0.4 Total international revenue 30.8 25.9 56.7 36.5 22.3 58.8 Total net sales $ 197.5 $ 93.7 $ 291.2 $ 201.5 $ 82.9 $ 284.4 Sales into major geographic regions were as follows: Three Months Ended March 31, (in millions) 2022 2021 United States $ 234.5 $ 225.6 Canada 14.2 17.3 Australia 10.2 8.8 Africa 9.1 8.3 Europe 5.4 10.5 South America 5.2 4.5 Asia 4.0 1.3 Brazil 3.8 4.2 Central America 2.6 1.2 Mexico 0.7 2.4 Other 1.5 0.3 Total foreign 56.7 58.8 Total net sales $ 291.2 $ 284.4 As of March 31, 2022, the Company had contract assets of $3.9 million and contract liabilities, excluding customer deposits, of $3.8 million, including $2.5 million of deferred revenue related to extended warranties. As of December 31, 2021, the Company had contract assets of $3.2 million and contract liabilities, excluding customer deposits, of $5.6 million, including $2.7 million of deferred revenue related to extended warranties.

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2022
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. Based on a review of these factors, the Company's India and Thailand sites have changed reportable segments beginning January 1, 2022. The India site was previously incorporated into the Materials Solutions segment and has moved to the Infrastructure Solutions segment while the Thailand site, which was previously included in the Infrastructure Solutions segment has moved to the Materials Solutions segment. Beginning January 1, 2022, 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 changed to 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 are 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. Prior periods have been revised to reflect both the segment composition change and the segment profit or loss metric noted above for comparability. During the first quarter of 2022, the Company revised the allocation of certain of its functional expenses between the Corporate category and the reportable segments primarily related to the Company's annual incentive compensation. Prior periods have not been revised for this change. A brief description of each segment is as follows: Infrastructure Solutions – The Infrastructure Solutions segment comprises 11 active sites and designs, engineers, manufactures and markets a complete line of asphalt plants, concrete plants and their related components and ancillary equipment as well as supplying 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 producers, highway and heavy equipment contractors, ready mix concrete producers, contractors in the construction and demolition recycling markets and domestic and foreign governmental agencies. Materials Solutions – The Materials Solutions segment comprises nine active sites and designs and manufactures 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 and Thailand sites 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, recycle and crushing contractors, open mine operators, quarry operators, port and inland terminal authorities, power stations and foreign and domestic governmental agencies. Corporate – The Corporate category consists primarily of the parent company and the Company's captive insurance company, Astec Insurance, 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 all of the sites. The accounting policies of the reportable segments are the same as those described in the summary of 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 March 31, 2022 Three Months Ended March 31, 2021 (in millions) Infrastructure Solutions Materials Solutions Corporate Total Infrastructure Solutions Materials Solutions Corporate Total Revenues from external customers $ 197.5 $ 93.7 $ — $ 291.2 $ 201.5 $ 82.9 $ — $ 284.4 Intersegment sales 1.1 9.7 — 10.8 0.7 5.7 — 6.4 Segment Operating Adjusted EBITDA 16.4 12.2 (9.8) 18.8 26.2 9.7 (15.0) 20.9 A reconciliation of total segment profit to the Company's consolidated totals is as follows: Three Months Ended March 31, (in millions) 2022 2021 Reconciliation to total consolidated net income attributable to controlling interest Segment Operating Adjusted EBITDA $ 18.8 $ 20.9 Adjustments: Transformation program (5.3) (3.2) Facility closures and reduction in force (1.0) (0.8) Gain on sale of property, equipment and business, net — 0.1 Transaction costs (0.6) — Interest expense, net (0.2) (0.1) Depreciation and amortization (6.7) (7.6) Income tax provision (0.9) (0.8) Total consolidated net income attributable to controlling interest $ 4.1 $ 8.5

Strategic Transformation and Re

Strategic Transformation and Restructuring and Other Asset Charges	3 Months Ended
	Mar. 31, 2022
Restructuring, Settlement and Impairment Provisions [Abstract]
Strategic Transformation and Restructuring and Other Asset Charges	Strategic Transformation and Restructuring and Other Asset Charges The Company's Simplify, Focus and Grow Strategic Transformation ("SFG") initiative, which began in 2019, generally includes facility rationalization, asset impairment, workforce reduction, the associated costs of organizational integration activities and strategic transformational initiatives. As part the SFG initiative several strategic decisions have been made to divest of underperforming manufacturing sites or product lines, including to close certain of its subsidiaries, close and sell its manufacturing sites and relocate the product lines manufactured at each of these sites to other Company locations; exit the oil, gas and water well product lines; and sell certain assets, which are included in "Restructuring, impairment and other asset charges, net" on the Company's Consolidated Statements of Operations. In addition, the Company also has a multi-year phased implementation of a standardized enterprise resource planning ("ERP") system across the global organization underway, 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 us to better leverage automation and process efficiency. An implementation of this scale is a major financial undertaking and will require 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. This improvement is intended to serve as the optimal blueprint for the Company's other manufacturing facilities. Costs incurred of $5.3 million and $3.2 million related to these strategic transformational initiatives in the three months ended March 31, 2022 and March 31, 2021, respectively, are recorded in "Selling, general and administrative expenses" in the Consolidated Statements of Operations. In addition, the Company periodically sells or disposes of its assets in the normal course of its business operations as they are no longer needed or used and may incur gains or losses on these disposals. Certain of the costs associated with these decisions are separately identified as restructuring. The Company reports asset impairment charges 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 and the net gain on sale of property and equipment are presented below: Three Months Ended March 31, (in millions) 2022 2021 Restructuring charges: Costs associated with closing Tacoma $ 0.8 $ 0.4 Costs associated with closing Enid 0.2 — Costs associated with closing Mequon — 0.4 Total restructuring related charges 1.0 0.8 Gain on sale of property and equipment, net: Gain on sale of property and equipment, net — (0.1) Total gain on sale of property and equipment, net — (0.1) Restructuring, impairment and other asset charges, net $ 1.0 $ 0.7 Restructuring charges by segment are as follows: Three Months Ended March 31, (in millions) 2022 2021 Infrastructure Solutions $ 1.0 $ 0.4 Materials Solutions — 0.4 Total restructuring related charges $ 1.0 $ 0.8 The net gain on sale of property and equipment by segment are as follows: Three Months Ended March 31, (in millions) 2022 2021 Infrastructure Solutions $ — $ (0.1) Total gain on sale of property and equipment, net $ — $ (0.1) Restructuring charges accrued, but not paid, were $0.4 million and $1.2 million as of March 31, 2022 and December 31, 2021, respectively. In January 2021, the Company announced plans to close the Tacoma facility in order to simplify and consolidate operations. The Tacoma facility ceased manufacturing operations at the end of 2021. The transfer of the manufacturing and marketing of Tacoma product lines to other facilities within the Infrastructure Solutions segment was completed during the first quarter of 2022. In conjunction with this action, the Company recorded $0.8 million and $0.4 million of restructuring related charges during the three month periods ended March 31, 2022 and 2021, respectively, in "Restructuring, impairment and other asset charges, net" in the Consolidated Statements of Operations. The Company recorded the Tacoma facility's land, building and certain equipment assets of $15.4 million, which are currently being marketed for sale, as held for sale at March 31, 2022 in its Consolidated Balance Sheets. In late 2019, the oil and gas drilling product lines produced at the Enid, Oklahoma location were impaired and discontinued. Additional restructuring costs of $0.2 million were incurred during the three months ended March 31, 2022. Enid's land and building assets totaling $5.1 million are included in "Assets held for sale" in the Consolidated Balance Sheets at March 31, 2022 and December 31, 2021. In October 2020, the Company closed a transaction for the sale of water well assets of the Company's Enid, Oklahoma location, which included equipment, inventories and intangible assets. The purchase price for this transaction was approximately $6.9 million, net of purchase price adjustments completed in January 2021 whereby the Company had an obligation to pay the buyer $1.1 million. This obligation was settled in the first quarter of 2021. In June 2020, the Company announced the closing of the Mequon site in order to simplify and consolidate operations. The Mequon facility ceased production operations in August 2020. Charges primarily related to inventory relocation and integration activities of $0.4 million were incurred during the three months ended March 31, 2021.

Earnings Per Common Share

Earnings Per Common Share	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Earnings Per Common Share	Earnings Per Common Share Basic earnings per common share is determined by dividing "Net income attributable to controlling interest" by the weighted average number of common shares outstanding during the reporting period. Diluted 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 supplemental executive retirement plan, 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 earnings per common share: Three Months Ended March 31, 2022 2021 Denominator: Denominator for basic earnings per common share 22,782,476 22,633,457 Effect of dilutive securities 121,691 241,353 Denominator for diluted earnings per common share 22,904,167 22,874,810

Subsequent Event

Subsequent Event	3 Months Ended
	Mar. 31, 2022
Subsequent Events [Abstract]
Subsequent Event	Subsequent EventIn April 2022, the Company acquired Canada-headquartered MINDS Automation Group, Inc., a leader in plant automation control systems and cloud-based data management in the asphalt industry. The total cash consideration payable to the selling shareholders was $18.2 million, subject to a customary purchase price adjustment for cash, indebtedness and net working capital and was funded from cash on hand. The acquisition is not expected to be material to the Company's Consolidated Statements of Operations.

Basis of Presentation and Sig_2

Basis of Presentation and Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2022
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, 2021. 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 non-controlling 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 consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting periods. Significant items subject to such estimates and assumptions include inventory obsolescence costs, warranty costs, inventory net realizable value, self-insurance loss reserves, share-based compensation 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. The COVID-19 pandemic and its contributory impacts on the economy have resulted in uncertainties in the Company's business, which may result in actual results differing from those estimates. As a result, the Company's accounting estimates and assumptions may change over time in response to COVID-19 and its contributory impacts. Such changes could result in future impairments of goodwill, intangibles, long-lived assets and investment securities and incremental credit losses on receivables, among other issues. On an ongoing basis, the Company evaluates these assumptions, judgments and estimates. Actual results may differ from these estimates. As discussed in Note 2. Immaterial Error Correction, the Company identified certain immaterial errors during the first quarter of 2022 for which the prior period and all relevant footnotes to the consolidated financial statements in this Form 10-Q have been revised to reflect the corrected balances. In the opinion of management, the consolidated financial statements contain all adjustments necessary for a fair statement of the results of operations and comprehensive income (loss) for the three months ended March 31, 2022 and 2021, the financial position as of March 31, 2022 and December 31, 2021 and the cash flows for the three months ended March 31, 2022 and 2021, 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.
Recently Adopted and Recently Issued Accounting Accounting Pronouncements	Recently Adopted Accounting Pronouncements In November 2021, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2021-10, "Government Assistance (Topic 832)", which aims to increase the transparency of government assistance including the disclosure of the types of assistance, an entity’s accounting for the assistance and the effect of the assistance on an entity’s financial statements. The new guidance requires expanded disclosure about transactions with a government that are accounted for by applying a grant or contribution accounting model by analogy. This new standard was effective for the Company on January 1, 2022. Availability of government assistance has typically been limited. The Company did not receive any government assistance in 2022. Recently Issued Accounting Pronouncements Not Yet Adopted In March 2020, the FASB issued ASU 2020-04, "Reference Rate Reform (Topic 848)", which provides optional guidance for a limited period of time to ease the potential burden in accounting (or recognizing the effects of) reference rate reform on financial reporting. This was in response to stakeholders raising certain operational challenges likely to arise in accounting for contract modifications and hedge accounting because of reference rate reform. Some of those challenges relate to the significant volume of contracts and other arrangements, such as debt agreements, lease agreements and derivative instruments, which will be modified to replace references to discontinued rates with references to replacement rates. For accounting purposes, such contract modifications are required to be evaluated in determining whether the modifications result in the establishment of new contracts or the continuation of existing contracts. Stakeholders indicated that due to the significant volume of affected contracts and other arrangements, together with a compressed time frame for making contract modifications, the application of existing accounting standards on assessing modifications versus extinguishments could be costly and burdensome. In addition, stakeholders indicated that financial reporting results should reflect the intended continuation of such contracts and arrangements during the period of the market-wide transition to alternative reference rates. The amendments are elective and are effective upon issuance through December 31, 2022. The Company intends to apply this guidance if modifications of its contracts that include LIBOR occur, which is not expected to have a material impact on the Company's consolidated financial statements. In October 2021, the FASB issued 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 ASC 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 is evaluating the impact of adopting this guidance on future acquisitions and may elect to early adopt, but has not yet finalized that election. Recent accounting guidance not discussed above is not applicable, did not have, or is not expected to have a material impact on the Company.

Out Of Period Error Revision (T

Out Of Period Error Revision (Tables)	3 Months Ended
	Mar. 31, 2022
Accounting Changes and Error Corrections [Abstract]
Schedule of Error Corrections and Prior Period Adjustments	Balance Sheet December 31, 2021 (in millions) As Previously Reported Adjustment As Revised Trade receivables and contract assets, net $ 144.1 $ (2.4) $ 141.7 Inventories 303.0 (4.3) 298.7 Prepaid and refundable income taxes 19.5 1.0 20.5 Total current assets 641.7 (5.7) 636.0 Deferred income tax assets 16.0 0.2 16.2 Total assets 911.3 (5.5) 905.8 Accounts payable 83.5 (1.3) 82.2 Other current liabilities 42.9 (0.7) 42.2 Total current liabilities 225.3 (2.0) 223.3 Total liabilities 256.5 (2.0) 254.5 Retained earnings 552.8 (3.5) 549.3 Shareholders' equity 654.3 (3.5) 650.8 Total equity 654.8 (3.5) 651.3 Total liabilities and equity 911.3 (5.5) 905.8 Statement of Operations Three Months Ended March 31, 2021 (in millions) As Previously Reported Adjustment As Revised Cost of sales $ 215.9 $ 0.3 $ 216.2 Gross profit 68.5 (0.3) 68.2 Income from operations 9.8 (0.3) 9.5 Income from operations before income taxes 9.6 (0.3) 9.3 Income tax provision 0.9 (0.1) 0.8 Net income 8.7 (0.2) 8.5 Net income attributable to controlling interest 8.7 (0.2) 8.5 Per share data: Earnings per common share - Basic 0.38 — 0.38 Earnings per common share - Diluted 0.38 0.01 0.37 Three Months Ended June 30, 2021 Six Months Ended June 30, 2021 (in millions) As Previously Reported Adjustment As Revised As Previously Reported Adjustment As Revised Net sales $ 278.0 $ (0.4) $ 277.6 $ 562.4 $ (0.4) $ 562.0 Cost of sales 211.0 0.5 211.5 426.9 0.8 427.7 Gross profit 67.0 (0.9) 66.1 135.5 (1.2) 134.3 Income from operations 11.2 (0.9) 10.3 21.0 (1.2) 19.8 Income from operations before income taxes 11.3 (0.9) 10.4 20.9 (1.2) 19.7 Income tax provision 2.3 (0.2) 2.1 3.2 (0.3) 2.9 Net income 9.0 (0.7) 8.3 17.7 (0.9) 16.8 Net income attributable to controlling interest 9.0 (0.7) 8.3 17.7 (0.9) 16.8 Per share data: Earnings per common share - Basic 0.40 0.04 0.36 0.78 0.04 0.74 Earnings per common share - Diluted 0.39 0.03 0.36 0.77 0.04 0.73 Three Months Ended September 30, 2021 Nine Months Ended September 30, 2021 (in millions) As Previously Reported Adjustment As Revised As Previously Reported Adjustment As Revised Net sales $ 267.0 $ (0.1) $ 266.9 $ 829.4 $ (0.5) $ 828.9 Cost of sales 204.7 0.3 205.0 631.6 1.1 632.7 Gross profit 62.3 (0.4) 61.9 197.8 (1.6) 196.2 Income from operations 6.7 (0.4) 6.3 27.7 (1.6) 26.1 Income from operations before income taxes 6.5 (0.4) 6.1 27.4 (1.6) 25.8 Income tax provision (2.8) (0.1) (2.9) 0.4 (0.4) — Net income 9.3 (0.3) 9.0 27.0 (1.2) 25.8 Net income attributable to controlling interest 9.3 (0.3) 9.0 27.0 (1.2) 25.8 Per share data: Earnings per common share - Basic 0.41 0.01 0.40 1.19 0.05 1.14 Earnings per common share - Diluted 0.41 0.02 0.39 1.18 0.05 1.13 Year Ended December 31, 2021 Year Ended December 31, 2020 (in millions) As Previously Reported Adjustment As Revised As Previously Reported Adjustment As Revised Net sales $ 1,097.2 $ (1.7) $ 1,095.5 $ 1,024.4 $ — $ 1,024.4 Cost of sales 845.5 1.0 846.5 784.3 1.2 785.5 Gross profit 251.7 (2.7) 249.0 240.1 (1.2) 238.9 Income from operations 22.1 (2.7) 19.4 43.0 (1.2) 41.8 Income from operations before income taxes 16.5 (2.7) 13.8 45.7 (1.2) 44.5 Income tax provision (1.4) (0.7) (2.1) (1.2) (0.3) (1.5) Net income 17.9 (2.0) 15.9 46.9 (0.9) 46.0 Net income attributable to controlling interest 17.8 (2.0) 15.8 46.9 (0.9) 46.0 Per share data: Earnings per common share - Basic 0.78 0.08 0.70 2.08 0.04 2.04 Earnings per common share - Diluted 0.78 0.09 0.69 2.05 0.04 2.01 Statements of Comprehensive Income Three Months Ended March 31, 2021 (in millions) As Previously Reported Adjustment As Revised Net income $ 8.7 $ (0.2) $ 8.5 Comprehensive income 7.9 (0.2) 7.7 Comprehensive income attributable to controlling interest 8.0 (0.2) 7.8 Three Months Ended June 30, 2021 Six Months Ended June 30, 2021 (in millions) As Previously Reported Adjustment As Revised As Previously Reported Adjustment As Revised Net income $ 9.0 $ (0.7) $ 8.3 $ 17.7 $ (0.9) $ 16.8 Comprehensive income 13.1 (0.7) 12.4 21.0 (0.9) 20.1 Comprehensive income attributable to controlling interest 13.2 (0.7) 12.5 21.0 (0.9) 20.1 Three Months Ended September 30, 2021 Nine Months Ended September 30, 2021 As Previously Reported Adjustment As Revised As Previously Reported Adjustment As Revised Net income $ 9.3 $ (0.3) $ 9.0 $ 27.0 $ (1.2) $ 25.8 Comprehensive income 4.8 (0.3) 4.5 25.8 (1.2) 24.6 Comprehensive income attributable to controlling interest 4.9 (0.3) 4.6 25.9 (1.2) 24.7 Year Ended December 31, 2021 Year Ended December 31, 2020 As Previously Reported Adjustment As Revised As Previously Reported Adjustment As Revised Net income $ 17.9 $ (2.0) $ 15.9 $ 46.9 $ (0.9) $ 46.0 Comprehensive income 18.9 (2.0) 16.9 45.2 (0.9) 44.3 Comprehensive income attributable to controlling interest 18.9 (2.0) 16.9 45.2 (0.9) 44.3 Statement of Cash Flow Three Months Ended March 31, 2021 (in millions) As Previously Reported Adjustment As Revised Net income $ 8.7 $ (0.2) $ 8.5 Inventories 5.0 0.3 5.3 Income taxes payable/prepaid 0.9 (0.1) 0.8 Six Months Ended June 30, 2021 (in millions) As Previously Reported Adjustment As Revised Net income $ 17.7 $ (0.9) $ 16.8 Receivables and other contract assets (32.9) 0.4 (32.5) Inventories (7.4) 0.8 (6.6) Income taxes payable/prepaid (7.0) (0.3) (7.3) Nine Months Ended September 30, 2021 (in millions) As Previously Reported Adjustment As Revised Net income $ 27.0 $ (1.2) $ 25.8 Receivables and other contract assets (31.3) 1.1 (30.2) Inventories (33.4) 1.1 (32.3) Other accrued liabilities 10.3 (0.6) 9.7 Income taxes payable/prepaid (5.7) (0.4) (6.1) Year Ended December 31, 2021 Year Ended December 31, 2020 As Previously Reported Adjustment As Revised As Previously Reported Adjustment As Revised Net income $ 17.9 $ (2.0) $ 15.9 $ 46.9 $ (0.9) $ 46.0 Receivables and other contract assets (30.8) 2.4 (28.4) 12.2 — 12.2 Inventories (53.8) 2.3 (51.5) 44.7 1.2 45.9 Accounts payable 30.8 (1.3) 29.5 (8.6) — (8.6) Other accrued liabilities (0.7) (0.7) (1.4) 9.8 — 9.8 Income taxes payable/prepaid (13.6) (0.7) (14.3) 16.0 (0.3) 15.7 Statement of Equity As Previously Reported Adjustment As Revised Balance, December 31, 2019 Retained Earnings $ 508.3 $ (0.6) $ 507.7 Total Equity 602.4 (0.6) 601.8 Balance, December 31, 2020 Retained Earnings 545.2 (1.5) 543.7 Total Equity 643.0 (1.5) 641.5 Balance, March 31, 2021 Retained Earnings 551.4 (1.7) 549.7 Total Equity 647.0 (1.7) 645.3 Balance, June 30, 2021 Retained Earnings 557.9 (2.4) 555.5 Total Equity 659.3 (2.4) 656.9 Balance, September 30, 2021 Retained Earnings 564.7 (2.7) 562.0 Total Equity 663.1 (2.7) 660.4 Balance, December 31, 2021 Retained Earnings 552.8 (3.5) 549.3 Total Equity 654.8 (3.5) 651.3

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2022
Inventory Disclosure [Abstract]
Schedule of Inventory, Current	Inventories consist of the following: (in millions) March 31, 2022 December 31, 2021 Raw materials and parts $ 246.9 $ 216.1 Work-in-process 71.5 50.4 Finished goods 32.1 28.9 Used equipment 2.4 3.3 Total $ 352.9 $ 298.7

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2022
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 March 31, 2022 and December 31, 2021 are Level 1 and Level 2 in the fair value hierarchy as defined above: March 31, 2022 (in millions) Level 1 Level 2 Total Financial assets: Trading equity securities: Deferred compensation programs' mutual funds $ 4.8 $ — $ 4.8 Preferred stocks 0.3 — 0.3 Equity funds 1.2 — 1.2 Trading debt securities: Corporate bonds 4.4 — 4.4 Municipal bonds — 0.1 0.1 Floating rate notes 0.4 — 0.4 U.S. government securities 1.1 — 1.1 Asset-backed securities — 5.0 5.0 Other 1.7 0.9 2.6 Total financial assets $ 13.9 $ 6.0 $ 19.9 Financial liabilities: Derivative financial instruments $ — $ 0.3 $ 0.3 Deferred compensation programs' liabilities — 6.3 6.3 Total financial liabilities $ — $ 6.6 $ 6.6 December 31, 2021 (in millions) Level 1 Level 2 Total Financial assets: Trading equity securities: Deferred compensation programs' mutual funds $ 4.9 $ — $ 4.9 Preferred stocks 0.3 — 0.3 Equity funds 3.0 — 3.0 Trading debt securities: Corporate bonds 3.3 — 3.3 Municipal bonds — 0.2 0.2 Floating rate notes 0.4 — 0.4 U.S. government securities 1.1 — 1.1 Asset-backed securities — 3.5 3.5 Other 3.1 1.0 4.1 Derivative financial instruments — 0.1 0.1 Total financial assets $ 16.1 $ 4.8 $ 20.9 Financial liabilities: Deferred compensation programs' liabilities $ — $ 7.2 $ 7.2 Total financial liabilities $ — $ 7.2 $ 7.2

Product Warranty Reserves (Tabl

Product Warranty Reserves (Tables)	3 Months Ended
	Mar. 31, 2022
Product Warranties Disclosures [Abstract]
Schedule of Product Warranty Liability	Changes in the Company's product warranty liability for the three month periods ended March 31, 2022 and 2021 are as follows: Three Months Ended March 31, (in millions) 2022 2021 Reserve balance, beginning of the period $ 10.5 $ 10.3 Warranty liabilities accrued 3.2 2.7 Warranty liabilities settled (2.4) (2.1) Reserve balance, end of the period $ 11.3 $ 10.9

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following tables disaggregate the Company's revenue by major source for the three month periods ended March 31, 2022 and 2021 (excluding intercompany sales): Three Months Ended March 31, 2022 Three Months Ended March 31, 2021 (in millions) Infrastructure Materials Total Infrastructure Materials Total Net Sales-Domestic: Equipment sales $ 95.2 $ 45.6 $ 140.8 $ 99.2 $ 41.8 $ 141.0 Parts and component sales 56.4 20.8 77.2 51.9 17.7 69.6 Service and equipment installation revenue 6.7 0.2 6.9 5.8 0.1 5.9 Used equipment sales 1.7 — 1.7 2.9 — 2.9 Freight revenue 6.6 1.6 8.2 5.6 1.5 7.1 Other 0.1 (0.4) (0.3) (0.4) (0.5) (0.9) Total domestic revenue 166.7 67.8 234.5 165.0 60.6 225.6 Net Sales-International: Equipment sales 16.6 14.7 31.3 21.3 12.8 34.1 Parts and component sales 12.3 9.7 22.0 13.1 7.7 20.8 Service and equipment installation revenue 1.2 0.7 1.9 1.0 0.5 1.5 Used equipment sales 0.2 0.5 0.7 0.1 0.8 0.9 Freight revenue 0.5 0.3 0.8 0.8 0.3 1.1 Other — — — 0.2 0.2 0.4 Total international revenue 30.8 25.9 56.7 36.5 22.3 58.8 Total net sales $ 197.5 $ 93.7 $ 291.2 $ 201.5 $ 82.9 $ 284.4
Revenue from External Customers by Geographic Areas	Sales into major geographic regions were as follows: Three Months Ended March 31, (in millions) 2022 2021 United States $ 234.5 $ 225.6 Canada 14.2 17.3 Australia 10.2 8.8 Africa 9.1 8.3 Europe 5.4 10.5 South America 5.2 4.5 Asia 4.0 1.3 Brazil 3.8 4.2 Central America 2.6 1.2 Mexico 0.7 2.4 Other 1.5 0.3 Total foreign 56.7 58.8 Total net sales $ 291.2 $ 284.4

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Segment Information: Three Months Ended March 31, 2022 Three Months Ended March 31, 2021 (in millions) Infrastructure Solutions Materials Solutions Corporate Total Infrastructure Solutions Materials Solutions Corporate Total Revenues from external customers $ 197.5 $ 93.7 $ — $ 291.2 $ 201.5 $ 82.9 $ — $ 284.4 Intersegment sales 1.1 9.7 — 10.8 0.7 5.7 — 6.4 Segment Operating Adjusted EBITDA 16.4 12.2 (9.8) 18.8 26.2 9.7 (15.0) 20.9
Reconciliation of Operating Profit (Loss) from Segments to Consolidated	A reconciliation of total segment profit to the Company's consolidated totals is as follows: Three Months Ended March 31, (in millions) 2022 2021 Reconciliation to total consolidated net income attributable to controlling interest Segment Operating Adjusted EBITDA $ 18.8 $ 20.9 Adjustments: Transformation program (5.3) (3.2) Facility closures and reduction in force (1.0) (0.8) Gain on sale of property, equipment and business, net — 0.1 Transaction costs (0.6) — Interest expense, net (0.2) (0.1) Depreciation and amortization (6.7) (7.6) Income tax provision (0.9) (0.8) Total consolidated net income attributable to controlling interest $ 4.1 $ 8.5

Strategic Transformation and _2

Strategic Transformation and Restructuring and Other Asset Charges (Tables)	3 Months Ended
	Mar. 31, 2022
Restructuring, Settlement and Impairment Provisions [Abstract]
Restructuring and Related Costs	Restructuring and the net gain on sale of property and equipment are presented below: Three Months Ended March 31, (in millions) 2022 2021 Restructuring charges: Costs associated with closing Tacoma $ 0.8 $ 0.4 Costs associated with closing Enid 0.2 — Costs associated with closing Mequon — 0.4 Total restructuring related charges 1.0 0.8 Gain on sale of property and equipment, net: Gain on sale of property and equipment, net — (0.1) Total gain on sale of property and equipment, net — (0.1) Restructuring, impairment and other asset charges, net $ 1.0 $ 0.7 Restructuring charges by segment are as follows: Three Months Ended March 31, (in millions) 2022 2021 Infrastructure Solutions $ 1.0 $ 0.4 Materials Solutions — 0.4 Total restructuring related charges $ 1.0 $ 0.8
Schedule of Fixed Asset Sales	The net gain on sale of property and equipment by segment are as follows: Three Months Ended March 31, (in millions) 2022 2021 Infrastructure Solutions $ — $ (0.1) Total gain on sale of property and equipment, net $ — $ (0.1)

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	3 Months Ended
	Mar. 31, 2022
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 earnings per common share: Three Months Ended March 31, 2022 2021 Denominator: Denominator for basic earnings per common share 22,782,476 22,633,457 Effect of dilutive securities 121,691 241,353 Denominator for diluted earnings per common share 22,904,167 22,874,810

Basis of Presentation and Sig_3

Basis of Presentation and Significant Accounting Policies (Details) R$ in Millions, $ in Millions	1 Months Ended		3 Months Ended
	Feb. 28, 2022BRL (R$)	Feb. 28, 2022USD ($)	Mar. 31, 2022segment
Franchisor Disclosure [Line Items]
Number of reportable segments			2
Gain on sale of previously unissued stock by subsidiary or equity investee, nonoperating income	R$ 10.0	$ 2
Consolidated Subsidiary
Franchisor Disclosure [Line Items]
Noncontrolling interest, ownership percentage by parent			7.00%

Immaterial Error Correction - B

Immaterial Error Correction - Balance Sheet Adjustment (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Trade receivables and contract assets, net	$ 137.9	$ 141.7
Inventories	352.9	298.7
Prepaid and refundable income taxes	16.5	20.5
Total current assets	675.7	636
Deferred income tax assets	20.7	16.2
Total assets	943.4	905.8
Accounts payable	99.7	82.2
Other current liabilities	41	42.2
Total current liabilities	256.5	223.3
Total liabilities	286	254.5
Retained earnings	550.6	549.3
Shareholders' equity	656.8	650.8
Total equity	657.4	651.3	$ 660.4	$ 656.9	$ 645.3	$ 641.5	$ 601.8
Total liabilities and equity	$ 943.4	905.8
As Previously Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Trade receivables and contract assets, net		144.1
Inventories		303
Prepaid and refundable income taxes		19.5
Total current assets		641.7
Deferred income tax assets		16
Total assets		911.3
Accounts payable		83.5
Other current liabilities		42.9
Total current liabilities		225.3
Total liabilities		256.5
Retained earnings		552.8
Shareholders' equity		654.3
Total equity		654.8	663.1	659.3	647	643	602.4
Total liabilities and equity		911.3
Adjustment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Trade receivables and contract assets, net		(2.4)
Inventories		(4.3)
Prepaid and refundable income taxes		1
Total current assets		(5.7)
Deferred income tax assets		0.2
Total assets		(5.5)
Accounts payable		(1.3)
Other current liabilities		(0.7)
Total current liabilities		(2)
Total liabilities		(2)
Retained earnings		(3.5)
Shareholders' equity		(3.5)
Total equity		(3.5)	$ (2.7)	$ (2.4)	$ (1.7)	$ (1.5)	$ (0.6)
Total liabilities and equity		$ (5.5)

Immaterial Error Correction - S

Immaterial Error Correction - Statement of Operations Adjustment (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended				6 Months Ended	9 Months Ended	12 Months Ended
	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2021	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net sales	$ 291.2	$ 266.9	$ 277.6	$ 284.4	$ 562	$ 828.9	$ 1,095.5	$ 1,024.4
Cost of sales	225.1	205	211.5	216.2	427.7	632.7	846.5	785.5
Gross Profit	66.1	61.9	66.1	68.2	134.3	196.2	249	238.9
Operating Income (Loss)	5.4	6.3	10.3	9.5	19.8	26.1	19.4	41.8
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	5	6.1	10.4	9.3	19.7	25.8	13.8	44.5
Income tax provision	0.9	(2.9)	2.1	0.8	2.9	0	(2.1)	(1.5)
Net income	4.1	9	8.3	8.5	16.8	25.8	15.9	46
Total consolidated net income attributable to controlling interest	$ 4.1	$ 9	$ 8.3	$ 8.5	$ 16.8	$ 25.8	$ 15.8	$ 46
Earnings per common share - Basic (in dollars per share)	$ 0.18	$ 0.40	$ 0.36	$ 0.38	$ 0.74	$ 1.14	$ 0.70	$ 2.04
Earnings per common share - Diluted (in dollars per share)	$ 0.18	$ 0.39	$ 0.36	$ 0.37	$ 0.73	$ 1.13	$ 0.69	$ 2.01
As Previously Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net sales		$ 267	$ 278		$ 562.4	$ 829.4	$ 1,097.2	$ 1,024.4
Cost of sales		204.7	211	$ 215.9	426.9	631.6	845.5	784.3
Gross Profit		62.3	67	68.5	135.5	197.8	251.7	240.1
Operating Income (Loss)		6.7	11.2	9.8	21	27.7	22.1	43
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest		6.5	11.3	9.6	20.9	27.4	16.5	45.7
Income tax provision		(2.8)	2.3	0.9	3.2	0.4	(1.4)	(1.2)
Net income		9.3	9	8.7	17.7	27	17.9	46.9
Total consolidated net income attributable to controlling interest		$ 9.3	$ 9	$ 8.7	$ 17.7	$ 27	$ 17.8	$ 46.9
Earnings per common share - Basic (in dollars per share)		$ 0.41	$ 0.40	$ 0.38	$ 0.78	$ 1.19	$ 0.78	$ 2.08
Earnings per common share - Diluted (in dollars per share)		$ 0.41	$ 0.39	$ 0.38	$ 0.77	$ 1.18	$ 0.78	$ 2.05
Adjustment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net sales		$ (0.1)	$ (0.4)		$ (0.4)	$ (0.5)	$ (1.7)	$ 0
Cost of sales		0.3	0.5	$ 0.3	0.8	1.1	1	1.2
Gross Profit		(0.4)	(0.9)	(0.3)	(1.2)	(1.6)	(2.7)	(1.2)
Operating Income (Loss)		(0.4)	(0.9)	(0.3)	(1.2)	(1.6)	(2.7)	(1.2)
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest		(0.4)	(0.9)	(0.3)	(1.2)	(1.6)	(2.7)	(1.2)
Income tax provision		(0.1)	(0.2)	(0.1)	(0.3)	(0.4)	(0.7)	(0.3)
Net income		(0.3)	(0.7)	(0.2)	(0.9)	(1.2)	(2)	(0.9)
Total consolidated net income attributable to controlling interest		$ (0.3)	$ (0.7)	$ (0.2)	$ (0.9)	$ (1.2)	$ (2)	$ (0.9)
Earnings per common share - Basic (in dollars per share)		$ 0.01	$ 0.04	$ 0	$ 0.04	$ 0.05	$ 0.08	$ 0.04
Earnings per common share - Diluted (in dollars per share)		$ 0.02	$ 0.03	$ 0.01	$ 0.04	$ 0.05	$ 0.09	$ 0.04

Immaterial Error Correction -_2

Immaterial Error Correction - Statements of Comprehensive Income Adjustment (Details) - USD ($) $ in Millions	3 Months Ended				6 Months Ended	9 Months Ended	12 Months Ended
	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2021	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net income	$ 4.1	$ 9	$ 8.3	$ 8.5	$ 16.8	$ 25.8	$ 15.9	$ 46
Comprehensive income	8.3	4.5	12.4	7.7	20.1	24.6	16.9	44.3
Comprehensive income attributable to controlling interest	$ 8.2	4.6	12.5	7.8	20.1	24.7	16.9	44.3
As Previously Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net income		9.3	9	8.7	17.7	27	17.9	46.9
Comprehensive income		4.8	13.1	7.9	21	25.8	18.9	45.2
Comprehensive income attributable to controlling interest		4.9	13.2	8	21	25.9	18.9	45.2
Adjustment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net income		(0.3)	(0.7)	(0.2)	(0.9)	(1.2)	(2)	(0.9)
Comprehensive income		(0.3)	(0.7)	(0.2)	(0.9)	(1.2)	(2)	(0.9)
Comprehensive income attributable to controlling interest		$ (0.3)	$ (0.7)	$ (0.2)	$ (0.9)	$ (1.2)	$ (2)	$ (0.9)

Immaterial Error Correction -_3

Immaterial Error Correction - Statement of Cash Flow Adjustment (Details) - USD ($) $ in Millions	3 Months Ended				6 Months Ended	9 Months Ended	12 Months Ended
	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2021	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net income	$ 4.1	$ 9	$ 8.3	$ 8.5	$ 16.8	$ 25.8	$ 15.9	$ 46
Receivables and other contract assets	5.3			(26.4)	(32.5)	(30.2)	(28.4)	12.2
Inventories	(53.7)			5.3	(6.6)	(32.3)	(51.5)	45.9
Accounts payable	17.3			15.8			29.5	(8.6)
Other accrued liabilities	(2.9)			(0.3)		9.7	(1.4)	9.8
Income taxes payable/prepaid	$ 4.4			0.8	(7.3)	(6.1)	(14.3)	15.7
As Previously Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net income		9.3	9	8.7	17.7	27	17.9	46.9
Receivables and other contract assets					(32.9)	(31.3)	(30.8)	12.2
Inventories				5	(7.4)	(33.4)	(53.8)	44.7
Accounts payable							30.8	(8.6)
Other accrued liabilities						10.3	(0.7)	9.8
Income taxes payable/prepaid				0.9	(7)	(5.7)	(13.6)	16
Adjustment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net income		$ (0.3)	$ (0.7)	(0.2)	(0.9)	(1.2)	(2)	(0.9)
Receivables and other contract assets					0.4	1.1	2.4	0
Inventories				0.3	0.8	1.1	2.3	1.2
Accounts payable							(1.3)	0
Other accrued liabilities						(0.6)	(0.7)	0
Income taxes payable/prepaid				$ (0.1)	$ (0.3)	$ (0.4)	$ (0.7)	$ (0.3)

Immaterial Error Correction -_4

Immaterial Error Correction - Statement of Equity Adjustment (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total equity	$ 657.4	$ 651.3	$ 660.4	$ 656.9	$ 645.3	$ 641.5	$ 601.8
As Previously Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total equity		654.8	663.1	659.3	647	643	602.4
Adjustment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total equity		(3.5)	(2.7)	(2.4)	(1.7)	(1.5)	(0.6)
Retained Earnings
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total equity	$ 550.6	549.3	562	555.5	549.7	543.7	507.7
Retained Earnings | As Previously Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total equity		552.8	564.7	557.9	551.4	545.2	508.3
Retained Earnings | Adjustment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total equity		$ (3.5)	$ (2.7)	$ (2.4)	$ (1.7)	$ (1.5)	$ (0.6)

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Raw materials and parts	$ 246.9	$ 216.1
Work-in-process	71.5	50.4
Finished goods	32.1	28.9
Used equipment	2.4	3.3
Total	$ 352.9	$ 298.7

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	Mar. 31, 2022	Dec. 31, 2021
Financial assets:
Derivative financial instruments		$ 0.1
Total financial assets	$ 19.9	20.9
Financial liabilities:
Derivative financial instruments	0.3
Deferred compensation programs' liabilities	6.3	7.2
Total financial liabilities	6.6	7.2
Corporate bonds
Financial assets:
Trading debt securities:	4.4	3.3
Municipal bonds
Financial assets:
Trading debt securities:	0.1	0.2
Floating rate notes
Financial assets:
Trading debt securities:	0.4	0.4
U.S. government securities
Financial assets:
Trading debt securities:	1.1	1.1
Asset-backed securities
Financial assets:
Trading debt securities:	5	3.5
Other
Financial assets:
Trading debt securities:	2.6	4.1
Preferred stocks
Financial assets:
Trading equity securities:	0.3	0.3
Equity Funds
Financial assets:
Trading equity securities:	1.2	3
Supplemental Employee Retirement Plan | Mutual Fund
Financial assets:
Trading equity securities:	4.8	4.9
Level 1
Financial assets:
Derivative financial instruments		0
Total financial assets	13.9	16.1
Financial liabilities:
Derivative financial instruments	0
Deferred compensation programs' liabilities	0	0
Total financial liabilities	0	0
Level 1 | Corporate bonds
Financial assets:
Trading debt securities:	4.4	3.3
Level 1 | Municipal bonds
Financial assets:
Trading debt securities:	0	0
Level 1 | Floating rate notes
Financial assets:
Trading debt securities:	0.4	0.4
Level 1 | U.S. government securities
Financial assets:
Trading debt securities:	1.1	1.1
Level 1 | Asset-backed securities
Financial assets:
Trading debt securities:	0	0
Level 1 | Other
Financial assets:
Trading debt securities:	1.7	3.1
Level 1 | Preferred stocks
Financial assets:
Trading equity securities:	0.3	0.3
Level 1 | Equity Funds
Financial assets:
Trading equity securities:	1.2	3
Level 1 | Supplemental Employee Retirement Plan | Mutual Fund
Financial assets:
Trading equity securities:	4.8	4.9
Level 2
Financial assets:
Derivative financial instruments		0.1
Total financial assets	6	4.8
Financial liabilities:
Derivative financial instruments	0.3
Deferred compensation programs' liabilities	6.3	7.2
Total financial liabilities	6.6	7.2
Level 2 | Corporate bonds
Financial assets:
Trading debt securities:	0	0
Level 2 | Municipal bonds
Financial assets:
Trading debt securities:	0.1	0.2
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:	5	3.5
Level 2 | Other
Financial assets:
Trading debt securities:	0.9	1
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 | Mutual Fund
Financial assets:
Trading equity securities:	$ 0	$ 0

Product Warranty Reserves (Deta

Product Warranty Reserves (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Movement in Standard and Extended Product Warranty Accrual, Increase (Decrease) [Roll Forward]
Reserve balance, beginning of the period	$ 10.5	$ 10.3
Warranty liabilities accrued	3.2	2.7
Warranty liabilities settled	(2.4)	(2.1)
Reserve balance, end of the period	$ 11.3	$ 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	Mar. 31, 2022	Dec. 31, 2021
Accrued Loss Reserves [Abstract]
Liability for claims and claims adjustment expense	$ 5.7	$ 5.8
Self insurance reserve, noncurrent	$ 3.5	$ 3.9

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended				6 Months Ended	9 Months Ended	12 Months Ended
	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2021	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Income tax provision	$ 0.9	$ (2.9)	$ 2.1	$ 0.8	$ 2.9	$ 0	$ (2.1)	$ (1.5)
Effective income tax rate reconciliation, percent	18.00%			8.60%
Unrecognized tax benefits	$ 11.1						$ 10.8
Unrecognized tax benefits, period increase (decrease)	$ 0.3

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Millions	Aug. 16, 2018	Dec. 31, 2021	Mar. 31, 2022
Loss Contingency [Abstract]
Contractual obligation		$ 2.4	$ 2.5
Percentage of potential contingent liability on unpaid balance		1.75%
Maximum exposure			0.2
Loss contingency accrual		$ 1.1	1
Pending Litigation
Loss Contingency [Abstract]
Loss contingency, damages sought, value	$ 8.5
Maximum
Loss Contingency [Abstract]
Amount of letters of credit outstanding			7.9
Letter of Credit Lender
Loss Contingency [Abstract]
Amount of letters of credit outstanding			2.5
Performance Guarantee
Loss Contingency [Abstract]
Contingent liabilities for letters of credit issued on behalf of foreign subsidiaries			2.5
Revolving Credit Facility
Loss Contingency [Abstract]
Borrowings outstanding			150
Letter of Credit
Loss Contingency [Abstract]
Line of credit facility, maximum borrowing capacity			$ 30

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended				6 Months Ended	9 Months Ended	12 Months Ended
	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2021	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020
Disaggregation of Revenue [Abstract]
Net sales	$ 291.2	$ 266.9	$ 277.6	$ 284.4	$ 562	$ 828.9	$ 1,095.5	$ 1,024.4
United States
Disaggregation of Revenue [Abstract]
Net sales	234.5			225.6
United States | Equipment sales
Disaggregation of Revenue [Abstract]
Net sales	140.8			141
United States | Parts and component sales
Disaggregation of Revenue [Abstract]
Net sales	77.2			69.6
United States | Service and equipment installation revenue
Disaggregation of Revenue [Abstract]
Net sales	6.9			5.9
United States | Used equipment sales
Disaggregation of Revenue [Abstract]
Net sales	1.7			2.9
United States | Freight revenue
Disaggregation of Revenue [Abstract]
Net sales	8.2			7.1
United States | Other
Disaggregation of Revenue [Abstract]
Net sales	(0.3)			(0.9)
International
Disaggregation of Revenue [Abstract]
Net sales	56.7			58.8
International | Equipment sales
Disaggregation of Revenue [Abstract]
Net sales	31.3			34.1
International | Parts and component sales
Disaggregation of Revenue [Abstract]
Net sales	22			20.8
International | Service and equipment installation revenue
Disaggregation of Revenue [Abstract]
Net sales	1.9			1.5
International | Used equipment sales
Disaggregation of Revenue [Abstract]
Net sales	0.7			0.9
International | Freight revenue
Disaggregation of Revenue [Abstract]
Net sales	0.8			1.1
International | Other
Disaggregation of Revenue [Abstract]
Net sales	0			0.4
Canada
Disaggregation of Revenue [Abstract]
Net sales	14.2			17.3
Australia
Disaggregation of Revenue [Abstract]
Net sales	10.2			8.8
Africa
Disaggregation of Revenue [Abstract]
Net sales	9.1			8.3
Europe
Disaggregation of Revenue [Abstract]
Net sales	5.4			10.5
South America
Disaggregation of Revenue [Abstract]
Net sales	5.2			4.5
Asia
Disaggregation of Revenue [Abstract]
Net sales	4			1.3
Brazil
Disaggregation of Revenue [Abstract]
Net sales	3.8			4.2
Central America
Disaggregation of Revenue [Abstract]
Net sales	2.6			1.2
Mexico
Disaggregation of Revenue [Abstract]
Net sales	0.7			2.4
Other
Disaggregation of Revenue [Abstract]
Net sales	1.5			0.3
Infrastructure Solutions
Disaggregation of Revenue [Abstract]
Net sales	197.5			201.5
Infrastructure Solutions | United States
Disaggregation of Revenue [Abstract]
Net sales	166.7			165
Infrastructure Solutions | United States | Equipment sales
Disaggregation of Revenue [Abstract]
Net sales	95.2			99.2
Infrastructure Solutions | United States | Parts and component sales
Disaggregation of Revenue [Abstract]
Net sales	56.4			51.9
Infrastructure Solutions | United States | Service and equipment installation revenue
Disaggregation of Revenue [Abstract]
Net sales	6.7			5.8
Infrastructure Solutions | United States | Used equipment sales
Disaggregation of Revenue [Abstract]
Net sales	1.7			2.9
Infrastructure Solutions | United States | Freight revenue
Disaggregation of Revenue [Abstract]
Net sales	6.6			5.6
Infrastructure Solutions | United States | Other
Disaggregation of Revenue [Abstract]
Net sales	0.1			(0.4)
Infrastructure Solutions | International
Disaggregation of Revenue [Abstract]
Net sales	30.8			36.5
Infrastructure Solutions | International | Equipment sales
Disaggregation of Revenue [Abstract]
Net sales	16.6			21.3
Infrastructure Solutions | International | Parts and component sales
Disaggregation of Revenue [Abstract]
Net sales	12.3			13.1
Infrastructure Solutions | International | Service and equipment installation revenue
Disaggregation of Revenue [Abstract]
Net sales	1.2			1
Infrastructure Solutions | International | Used equipment sales
Disaggregation of Revenue [Abstract]
Net sales	0.2			0.1
Infrastructure Solutions | International | Freight revenue
Disaggregation of Revenue [Abstract]
Net sales	0.5			0.8
Infrastructure Solutions | International | Other
Disaggregation of Revenue [Abstract]
Net sales	0			0.2
Materials Solutions
Disaggregation of Revenue [Abstract]
Net sales	93.7			82.9
Materials Solutions | United States
Disaggregation of Revenue [Abstract]
Net sales	67.8			60.6
Materials Solutions | United States | Equipment sales
Disaggregation of Revenue [Abstract]
Net sales	45.6			41.8
Materials Solutions | United States | Parts and component sales
Disaggregation of Revenue [Abstract]
Net sales	20.8			17.7
Materials Solutions | United States | Service and equipment installation revenue
Disaggregation of Revenue [Abstract]
Net sales	0.2			0.1
Materials Solutions | United States | Used equipment sales
Disaggregation of Revenue [Abstract]
Net sales	0			0
Materials Solutions | United States | Freight revenue
Disaggregation of Revenue [Abstract]
Net sales	1.6			1.5
Materials Solutions | United States | Other
Disaggregation of Revenue [Abstract]
Net sales	(0.4)			(0.5)
Materials Solutions | International
Disaggregation of Revenue [Abstract]
Net sales	25.9			22.3
Materials Solutions | International | Equipment sales
Disaggregation of Revenue [Abstract]
Net sales	14.7			12.8
Materials Solutions | International | Parts and component sales
Disaggregation of Revenue [Abstract]
Net sales	9.7			7.7
Materials Solutions | International | Service and equipment installation revenue
Disaggregation of Revenue [Abstract]
Net sales	0.7			0.5
Materials Solutions | International | Used equipment sales
Disaggregation of Revenue [Abstract]
Net sales	0.5			0.8
Materials Solutions | International | Freight revenue
Disaggregation of Revenue [Abstract]
Net sales	0.3			0.3
Materials Solutions | International | Other
Disaggregation of Revenue [Abstract]
Net sales	$ 0			$ 0.2

Revenue Recognition - Narrative

Revenue Recognition - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Contract assets	$ 3.9	$ 3.2
Contract with customer, liability	3.8	5.6
Extended Warranty Revenue
Disaggregation of Revenue [Line Items]
Deferred revenue	$ 2.5	$ 2.7

Segment Information- Narrative

Segment Information- Narrative (Details)	3 Months Ended
	Mar. 31, 2022segmentbusiness
Segment Reporting Information [Line Items]
Number of reportable segments | segment	2
Infrastructure Solutions
Segment Reporting Information [Line Items]
Number of business units	11
Materials Solutions
Segment Reporting Information [Line Items]
Number of business units	9

Segment Information - Summary o

Segment Information - Summary of Segment Information (Details) - USD ($) $ in Millions	3 Months Ended				6 Months Ended	9 Months Ended	12 Months Ended
	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2021	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Revenues from external customers	$ 291.2	$ 266.9	$ 277.6	$ 284.4	$ 562	$ 828.9	$ 1,095.5	$ 1,024.4
Segment Operating Adjusted EBITDA	4.1	$ 9	$ 8.3	8.5	$ 16.8	$ 25.8	$ 15.8	$ 46
Infrastructure Solutions
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Revenues from external customers	197.5			201.5
Materials Solutions
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Revenues from external customers	93.7			82.9
Corporate
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Revenues from external customers				0
Segment Operating Adjusted EBITDA				(15)
Operating Segments
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Revenues from external customers	291.2			284.4
Segment Operating Adjusted EBITDA	18.8			20.9
Operating Segments | Infrastructure Solutions
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Revenues from external customers	197.5			201.5
Segment Operating Adjusted EBITDA	16.4			26.2
Operating Segments | Materials Solutions
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Revenues from external customers	93.7			82.9
Segment Operating Adjusted EBITDA	12.2			9.7
Operating Segments | Corporate
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Revenues from external customers	0
Segment Operating Adjusted EBITDA	(9.8)
Intersegment Eliminations
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Revenues from external customers	10.8			6.4
Intersegment Eliminations | Infrastructure Solutions
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Revenues from external customers	1.1			0.7
Intersegment Eliminations | Materials Solutions
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Revenues from external customers	9.7			5.7
Intersegment Eliminations | Corporate
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Revenues from external customers	$ 0			$ 0

Segment Information - Reconcili

Segment Information - Reconciliation of Total Segment Profits to Consolidated Totals (Details) - USD ($) $ in Millions	3 Months Ended				6 Months Ended	9 Months Ended	12 Months Ended
	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2021	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020
Segment Reconciliation [Abstract]
Segment Operating Adjusted EBITDA	$ 4.1	$ 9	$ 8.3	$ 8.5	$ 16.8	$ 25.8	$ 15.9	$ 46
Gain on sale of property and equipment, net	0			0.1
Income tax provision	0.9	(2.9)	2.1	0.8	2.9	0	(2.1)	(1.5)
Net income attributable to controlling interest	4.1	$ 9	$ 8.3	8.5	$ 16.8	$ 25.8	$ 15.8	$ 46
Operating Segments
Segment Reconciliation [Abstract]
Segment Operating Adjusted EBITDA	18.8			20.9
Transformation program	(5.3)			(3.2)
Facility closures and reduction in force	(1)			(0.8)
Gain on sale of property and equipment, net	0			0.1
Transaction costs	(0.6)			0
Interest expense, net	(0.2)			(0.1)
Depreciation and amortization	(6.7)			(7.6)
Income tax provision	(0.9)			(0.8)
Net income attributable to controlling interest	$ 18.8			$ 20.9

Strategic Transformation and _3

Strategic Transformation and Restructuring and Other Asset Charges - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	Dec. 31, 2020	Oct. 31, 2020
Restructuring charges:
Restructuring reserve	$ 0.4		$ 1.2
Assets held for sale	20.5		5.1
Disposal group, including discontinued operation, consideration					$ 6.9
Disposal group, accounts payable, current				$ 1.1
Enid Exit Plan
Restructuring charges:
Assets held for sale	5.1		$ 5.1
Tacoma Exit Plan
Restructuring charges:
Assets held for sale	15.4
Facility Closing | Enid Exit Plan
Restructuring charges:
Business exit costs	0.2	$ 0
Facility Closing | Mequon Exit Plan
Restructuring charges:
Business exit costs	0	0.4
Facility Closing | Tacoma Exit Plan
Restructuring charges:
Business exit costs	0.8	0.4
SFG Initiative
Restructuring charges:
Restructuring costs	$ 5.3	$ 3.2

Strategic Transformation and _4

Strategic Transformation and Restructuring and Other Asset Charges - Restructuring and the Net Gain on Sale of Property and Equipment (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Restructuring charges:
Total restructuring related charges	$ 1	$ 0.8
Gain on sale of property and equipment, net:
Gain on disposition of property and equipment	0	(0.1)
Total gain on sale of property and equipment, net	0	(0.1)
Restructuring, impairment and other asset charges, net	1	0.7
Facility Closing | Mequon Exit Plan
Restructuring charges:
Business exit costs	0	0.4
Facility Closing | Enid Exit Plan
Restructuring charges:
Business exit costs	0.2	0
Facility Closing | Tacoma Exit Plan
Restructuring charges:
Business exit costs	$ 0.8	$ 0.4

Strategic Transformation and _5

Strategic Transformation and Restructuring and Other Asset Charges - Restructuring Charge by Segment (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Restructuring charges:
Total restructuring related charges	$ 1	$ 0.8
Infrastructure Solutions
Restructuring charges:
Total restructuring related charges	1	0.4
Materials Solutions
Restructuring charges:
Total restructuring related charges	$ 0	$ 0.4

Strategic Transformation and _6

Strategic Transformation and Restructuring and Other Asset Charges - Sale of Fixed Assets by Segment (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Restructuring charges:
(Gain) on sale of property and equipment, net	$ 0	$ (0.1)
Infrastructure Solutions
Restructuring charges:
(Gain) on sale of property and equipment, net	$ 0	$ (0.1)

Earnings Per Common Share (Deta

Earnings Per Common Share (Details) - shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Denominator:
Denominator for basic earnings per common share	22,782,476	22,633,457
Effect of dilutive securities	121,691	241,353
Denominator for diluted earnings per common share	22,904,167	22,874,810

Subsequent Event (Details)

Subsequent Event (Details) $ in Millions	1 Months Ended
	Apr. 30, 2022USD ($)
Subsequent Event | MINDS Automation Group Inc
Subsequent Event [Line Items]
Consideration transferred	$ 18.2