Astec Industries (ASTE) 10-Q 2 May 24 2024 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2024	Apr. 26, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
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		22,765,328
Entity Central Index Key	0000792987
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Current assets:
Cash, cash equivalents and restricted cash	$ 58.1	$ 63.2
Investments	5.7	5.7
Trade receivables, contract assets and other receivables, net of allowance for credit losses of $3.8 and $4.0, respectively	192	152.7
Inventories	484	455.6
Prepaid and refundable income taxes	11.5	14.6
Prepaid expenses and other assets	27.5	27.7
Total current assets	778.8	719.5
Property and equipment, net of accumulated depreciation of $250.7 and $248.1, respectively	185	187.6
Investments	16.8	13.8
Goodwill	45.8	46.3
Intangible assets, net of accumulated amortization of $52.3 and $51.3, respectively	15	16.4
Deferred income tax assets	39.7	37.5
Other long-term assets	41.9	38.2
Total assets	1,123	1,059.3
Current liabilities:
Current maturities of long-term debt	0	0.1
Short-term debt	9.6	11
Accounts payable	117.8	116.9
Customer deposits	80	70.2
Accrued product warranty	16.2	16.5
Accrued employee related liabilities	36.1	44.1
Accrued loss reserves	1.9	2.7
Other current liabilities	48.8	37.5
Total current liabilities	310.4	299
Long-term debt	125	72
Deferred income tax liabilities	1.3	1.1
Other long-term liabilities	35.8	33.5
Total liabilities	472.5	405.6
Commitments and contingencies (Note 7)
Shareholders' equity:
Preferred stock – authorized 2,000,000 shares of $1.00 par value; none issued	0	0
Common stock – authorized 40,000,000 shares of $0.20 par value; issued and outstanding – 22,764,963 as of March 31, 2024 and 22,740,635 as of December 31, 2023	4.5	4.5
Additional paid-in capital	139.3	138.4
Accumulated other comprehensive loss	(42.5)	(38.1)
Company stock held by deferred compensation programs, at cost	(0.8)	(0.8)
Retained earnings	549.8	549.4
Shareholders' equity	650.3	653.4
Noncontrolling interest	0.2	0.3
Total equity	650.5	653.7
Total liabilities and equity	$ 1,123	$ 1,059.3

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Allowance for credit loss	$ 3.8	$ 4
Accumulated depreciation	250.7	248.1
Accumulated amortization	$ 52.3	$ 51.3
Preferred stock, shares authorized	2,000,000	2,000,000
Preferred stock, par value (in dollars per share)	$ 1	$ 1
Preferred stock, shares issued	0	0
Common stock, shares authorized	40,000,000	40,000,000
Common stock, par value (in dollars per share)	$ 0.20	$ 0.20
Common stock, shares issued	22,764,963	22,740,635
Common stock, shares outstanding	22,764,963	22,740,635

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Statement [Abstract]
Net sales	$ 309.2	$ 347.9
Cost of sales	232.3	258.7
Gross profit	76.9	89.2
Selling, general and administrative expenses	71.4	67.9
Restructuring and other asset (gains) charges, net	(0.8)	3.7
Income from operations	6.3	17.6
Other expenses, net:
Interest expense	(2.7)	(2)
Interest income	0.6	0.5
Other income, net	0.5	0.4
Income before income taxes	4.7	16.5
Income tax provision	1.4	4.4
Net income	3.3	12.1
Net loss attributable to noncontrolling interest	0.1	0
Net income attributable to controlling interest	$ 3.4	$ 12.1
Per share data:
Earnings per common share - Basic (in dollars per share)	$ 0.15	$ 0.53
Earnings per common share - Diluted (in dollars per share)	$ 0.15	$ 0.53
Weighted average shares outstanding - Basic	22,762,098	22,655,821
Weighted average shares outstanding - Diluted	22,834,814	22,742,937

Consolidated Statements of Comp

Consolidated Statements of Comprehensive (Loss) Income - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 3.3	$ 12.1
Other comprehensive (loss) income:
Foreign currency translation adjustments	(4.4)	0.1
Other comprehensive (loss) income	(4.4)	0.1
Comprehensive (loss) income	(1.1)	12.2
Comprehensive loss (income) attributable to noncontrolling interest	0.1	(0.1)
Comprehensive (loss) income attributable to controlling interest	$ (1)	$ 12.1

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cash flows from operating activities:
Net income	$ 3.3	$ 12.1
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization	6.5	6.3
Provision for credit losses	0.1	0.2
Provision for warranties	4.2	3.9
Deferred compensation expense	0.1	0
Share-based compensation	1.2	0.8
Deferred tax benefit	(2)	(2.6)
Gain on disposition of property and equipment, net	(0.9)	(3.4)
Amortization of debt issuance costs	0.1	0.1
Distributions to deferred compensation programs' participants	0	(0.1)
Change in operating assets and liabilities:
Purchase of trading securities, net	(2.2)	(0.8)
Receivables and other contract assets	(39.1)	(4.5)
Inventories	(30.6)	(27.2)
Prepaid expenses	0.6	2.5
Other assets	(4)	(5.4)
Accounts payable	2.5	3.5
Accrued loss reserves	(0.3)	0.4
Accrued employee related liabilities	(7.8)	(0.8)
Other accrued liabilities	12.2	(5.9)
Accrued product warranty	(4.5)	(3.4)
Customer deposits	10.1	(1.9)
Income taxes payable/prepaid	3.5	7
Net cash used in operating activities	(47)	(19.2)
Cash flows from investing activities:
Expenditures for property and equipment	(5.8)	(8)
Proceeds from sale of property and equipment	0.4	20
Purchase of investments	(0.5)	(0.2)
Net cash (used in) provided by investing activities	(5.9)	11.8
Cash flows from financing activities:
Payment of dividends	(2.9)	(2.9)
Proceeds from borrowings on credit facilities and bank loans	68.4	32.1
Repayments of borrowings on credit facilities and bank loans	(16.7)	(44)
Withholding tax paid upon vesting of share-based compensation awards	(0.4)	(1.4)
Net cash provided by (used in) financing activities	48.4	(16.2)
Effect of exchange rates on cash	(0.6)	0.1
Decrease in cash, cash equivalents and restricted cash	(5.1)	(23.5)
Cash, cash equivalents and restricted cash, beginning of period	63.2	66
Cash, cash equivalents and restricted cash, end of period	58.1	42.5
Cash paid during the year for:
Interest, net of capitalized interest	1.5	1.2
Income taxes paid	0.2	0.3
Non-cash investing activities:
Capital expenditures in accounts payable	0.4	1.3
Non-cash financing activities:
Additions to right-of-use assets and lease liabilities	$ 1.3	$ 0.1

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($) $ in Millions	Total	Common Stock	Additional Paid-in-Capital	Accumulated Other Comprehensive Loss	Company Shares Held by DCP	Retained Earnings	Noncontrolling Interest
Balance (in shares) at Dec. 31, 2022		22,624,031
Balance at Dec. 31, 2022	$ 626.9	$ 4.5	$ 135.8	$ (40.1)	$ (1.1)	$ 527.8	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	12.1					12.1
Other comprehensive income (loss)	0.1						0.1
Dividends	(2.9)					(2.9)
Share-based compensation	0.8		0.8
Issuance of common stock under incentive plan (in shares)		66,536
Withholding tax paid upon equity award vesting	(1.4)		(1.4)
Balance (in shares) at Mar. 31, 2023		22,690,567
Balance at Mar. 31, 2023	$ 635.6	$ 4.5	135.2	(40.1)	(1.1)	537	0.1
Balance (in shares) at Dec. 31, 2023	22,740,635	22,740,635
Balance at Dec. 31, 2023	$ 653.7	$ 4.5	138.4	(38.1)	(0.8)	549.4	0.3
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	3.3					3.4	(0.1)
Other comprehensive income (loss)	(4.4)			(4.4)
Dividends	(2.9)		0.1			(3)
Share-based compensation	1.2		1.2
Issuance of common stock under incentive plan (in shares)		24,328
Withholding tax paid upon equity award vesting	$ (0.4)		(0.4)
Balance (in shares) at Mar. 31, 2024	22,764,963	22,764,963
Balance at Mar. 31, 2024	$ 650.5	$ 4.5	$ 139.3	$ (42.5)	$ (0.8)	$ 549.8	$ 0.2

Consolidated Statements of Eq_2

Consolidated Statements of Equity (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Stockholders' Equity [Abstract]
Dividends declared per common share (in dollars per share)	$ 0.13	$ 0.13

Basis of Presentation and Signi

Basis of Presentation and Significant Accounting Policies	3 Months Ended
	Mar. 31, 2024
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, markets and services equipment and components used primarily in asphalt and concrete 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's product portfolio includes both asphalt and concrete equipment. The Company also manufactures certain equipment and components unrelated to road construction, including equipment for the mining, quarrying, construction, demolition, land clearing and recycling industries and port and rail yard operators; industrial heat transfer equipment; commercial whole-tree pulpwood chippers; horizontal grinders; blower trucks; concrete plants; commercial and industrial burners; and combustion control systems. The Company operates in two reportable segments (plus Corporate and Other) - Infrastructure Solutions and Materials Solutions. The Company's two reportable business segments comprise sites based upon the nature of the products or services produced, the type of customer for the products, the similarity of economic characteristics, the manner in which management reviews results and the nature of the production process, among other considerations. The Corporate and Other category consists primarily of the parent company 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 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, 2023. 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 loss attributable to noncontrolling interest" in the Consolidated Statements of Operations. The Company executed an agreement in February 2022 with the noncontrolling interest holder 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 resolution of certain disputes between the parties. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported and disclosed in the consolidated financial statements and accompanying notes. Significant items subject to such estimates and assumptions include inventory net realizable value, product warranty obligations, self-insurance loss reserves, capitalization of internal use software, goodwill and other intangible assets impairment and the measurement of income tax assets and liabilities. The Company bases its estimates on historical experience and on various other assumptions that the Company believes to be reasonable under the circumstances. On an ongoing basis, the Company evaluates these assumptions, judgments and estimates. Actual results could differ from those estimates. In the opinion of management, the consolidated financial statements contain all adjustments necessary for a fair statement of the results of operations and comprehensive (loss) income for the three months ended March 31, 2024 and 2023, the financial position as of March 31, 2024 and December 31, 2023 and the cash flows for the three months ended March 31, 2024 and 2023, 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. Adjustments During the first quarter of 2023, the Company identified immaterial errors associated with over-accruals of inventory-related expenses in its historical financial statements. The cumulative effect of the errors generated in 2021 and 2022 was corrected during the first quarter of 2023, resulting in a decrease in "Cost of sales" of $1.9 million. Recently Issued Accounting Pronouncements Not Yet Adopted In November 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2023-07, "Segment Reporting (Topic 280): Improvement to Reportable Segment Disclosures," which requires entities to disclose significant segment expenses, other segment items, the title and position of the chief operating decision maker ("CODM") and information related to how the CODM assesses segment performance and allocates resources, among certain other required disclosures. Additionally, current annual disclosures will be required in interim periods. The new standard is effective, on a retrospective basis, for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact this ASU will have on its financial statement disclosures. In December 2023, the FASB issued ASU 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures," which requires entities to disclose specific categories in the income tax rate reconciliation and provide additional information for reconciling items that meet a specified quantitative threshold. In addition, the new standard requires disclosure of the amount of income taxes paid disaggregated by federal, state and foreign taxes and by jurisdiction for exceeding a specified quantitative threshold. Additionally, income or loss from continuing operations before income tax will be required to be disaggregated between domestic and foreign classifications and income tax expense will be required to be disaggregated between federal, state and foreign classifications. The new standard is effective for fiscal years beginning after December 15, 2024 on a prospective basis, with retrospective application permitted. The Company is currently evaluating the impact this ASU will have on its financial statement disclosures. In March 2024, the SEC adopted the final rule under SEC Release No. 33-11275, "The Enhancement and Standardization of Climate-Related Disclosures for Investors," which will require registrants to disclose certain climate-related information in registration statements and annual reports. On April 4, 2024, the SEC voluntarily stayed the effective date of the final rule pending judicial review of petitions challenging it, which have been consolidated for review by the U.S. District Court of Appeals for the 8th Circuit. Notwithstanding any changes as a result of these challenges, the disclosure requirements will apply to the Company's fiscal year beginning January 1, 2025. The Company is currently evaluating the impact this final rule will have on its financial statement disclosures. Recent accounting guidance not discussed above is not applicable, did not have, or is not expected to have a material impact on the Company.

Inventories

Inventories	3 Months Ended
	Mar. 31, 2024
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, 2024 December 31, 2023 Raw materials and parts $ 299.6 $ 298.6 Work-in-process 104.4 87.1 Finished goods 78.0 68.3 Used equipment 2.0 1.6 Total $ 484.0 $ 455.6

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The Company has various financial instruments that must be measured at fair value on a recurring basis, including marketable debt and equity securities held by Astec Insurance and marketable equity securities held in the Company's deferred compensation programs. The Company's deferred compensation programs (each, a "DCP") include a non-qualified Supplemental Executive Retirement Plan ("SERP") and a separate non-qualified Deferred Compensation Plan. Although the DCP's 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 DCP assets and related offsetting liabilities 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, cash equivalents and restricted cash, 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 on 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 - Unobservable inputs that reflect management’s best estimate of what market participants would use in pricing the asset or liability at the measurement date. As indicated in the tables below, the Company has determined that all of its financial assets and liabilities as of March 31, 2024 and December 31, 2023 are Level 1 and Level 2 in the fair value hierarchy defined above: March 31, 2024 (in millions) Level 1 Level 2 Total Financial assets: Trading equity securities: Deferred compensation programs' mutual funds $ 5.1 $ — $ 5.1 Preferred stocks 0.3 — 0.3 Equity funds 0.7 — 0.7 Trading debt securities: Corporate bonds 4.3 — 4.3 Agency bonds — 2.5 2.5 U.S. government securities 2.9 — 2.9 Asset-backed securities — 4.3 4.3 Exchange traded funds 1.4 — 1.4 Mortgage backed securities — 0.4 0.4 Other 0.2 0.4 0.6 Total financial assets $ 14.9 $ 7.6 $ 22.5 Financial liabilities: Deferred compensation programs' liabilities $ — $ 6.6 $ 6.6 Total financial liabilities $ — $ 6.6 $ 6.6 December 31, 2023 (in millions) Level 1 Level 2 Total Financial assets: Trading equity securities: Deferred compensation programs' mutual funds $ 4.2 $ — $ 4.2 Preferred stocks 0.3 — 0.3 Equity funds 0.7 — 0.7 Trading debt securities: Corporate bonds 3.4 — 3.4 Agency bonds — 2.5 2.5 U.S. government securities 1.9 — 1.9 Asset-backed securities — 4.0 4.0 Exchange traded funds 1.3 — 1.3 Mortgage backed securities — 0.5 0.5 Other 0.2 0.5 0.7 Total financial assets $ 12.0 $ 7.5 $ 19.5 Financial liabilities: Derivative financial instruments $ — $ 0.1 $ 0.1 Deferred compensation programs' liabilities — 5.5 5.5 Total financial liabilities $ — $ 5.6 $ 5.6

Product Warranty Reserves

Product Warranty Reserves	3 Months Ended
	Mar. 31, 2024
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, 2024 and 2023 are as follows: Three Months Ended March 31, (in millions) 2024 2023 Reserve balance, beginning of the period $ 16.5 $ 11.9 Warranty liabilities accrued 4.2 3.9 Warranty liabilities settled (4.5) (3.4) Reserve balance, end of the period $ 16.2 $ 12.4

Accrued Loss Reserves

Accrued Loss Reserves	3 Months Ended
	Mar. 31, 2024
Accrued Loss Reserves [Abstract]
Accrued Loss Reserves	Accrued Loss Reserves The 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 $6.9 million and $7.2 million as of March 31, 2024 and December 31, 2023, respectively, of which $5.0 million and $4.5 million were included in "Other long-term liabilities" in the Consolidated Balance Sheets as of March 31, 2024 and December 31, 2023, respectively.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For the three months ended March 31, 2024, the Company recorded an income tax expense of $1.4 million, reflecting a 29.8% effective tax rate, compared to a $4.4 million income tax expense for the three months ended March 31, 2023, reflecting a 26.7% effective tax rate. The income tax expense for three months ended March 31, 2024 was lower compared to the same period in 2023, primarily due to lower pretax book income and changes in the relative weighting of jurisdictional income and loss. The Company's recorded liability for uncertain tax positions was $13.2 million and $13.0 million as of March 31, 2024 and December 31, 2023, respectively. The increase is the result of $0.2 million of incremental reserves associated with the 2024 research and development credit. The Company does not anticipate a significant change in unrecognized tax benefits due to the expiration of relevant statutes of limitations and federal, state, and foreign tax audit resolutions over the next twelve months. The Company regularly assesses the likelihood of an adverse outcome resulting from examinations to determine the adequacy of its tax reserves. The Company is currently under audit by the U.S. Internal Revenue Service for the federal income tax return from the 2018 tax year as well as various other state income tax and jurisdictional audits. As of March 31, 2024, 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, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Certain customers have financed purchases of Company products through arrangements with third-party financing institutions. Under these arrangements, the Company is contingently liable for customer debt of $0.9 million and $1.1 million as of March 31, 2024 and December 31, 2023, respectively. These arrangements expire at various dates running through September 2026. Additionally, the Company is also contingently liable for 1.75% of the unpaid balance, determined as of December 31 of the prior year (or approximately $0.1 million for 2024), on certain past customer equipment purchases that were financed by an outside finance company. The agreements provide that the Company will receive the lender's full security interest in the financed equipment if the Company is required to fulfill its contingent liability under these arrangements. The Company has recorded a liability of $0.6 million related to these guarantees, which were included in "Other current liabilities" in the Consolidated Balance Sheets as of both March 31, 2024 and December 31, 2023. The Company reviews off-balance sheet guarantees individually and at the loss pool level based on one agreement. Prior history is considered with respect to the Company having to perform on any off-balance sheet guarantees, as well as future projections of individual customer creditworthiness with respect to assessing credit losses related to off-balance sheet guarantees. In addition, the Company is contingently liable under letters of credit issued under its $250.0 million revolving credit facility (the "Credit Facility"), which outstanding letters of credit totaled $9.8 million as of March 31, 2024. The outstanding letters of credit expire at various dates through February 2025. Unused letters of credit under the Credit Facility are $20.2 million as of March 31, 2024. The Company is additionally contingently liable for a total of $7.6 million in performance letters of credit and retention guarantees primarily held by its foreign subsidiaries, of which $5.6 million are secured by separate credit facilities with various financial institutions as of March 31, 2024. As of March 31, 2024, there were $10.7 million of unused letters of credit under such separate credit facilities. The Company and certain of its former executive officers were named as defendants in a putative shareholder class action lawsuit filed on February 1, 2019, as amended on August 26, 2019, in the United States District Court for the Eastern District of Tennessee. The action is styled City of Taylor General Employees Retirement System v. Astec Industries, Inc., et al., Case No. 1:19-cv-24-CEA-CHS. The complaint generally alleges that the defendants violated the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and Rule 10b-5 promulgated thereunder by making allegedly false and misleading statements and that the individual defendants were control persons under Section 20(a) of the Exchange Act. The complaint is filed on behalf of shareholders who purchased stock of the Company between July 26, 2016 and October 22, 2018 and seeks monetary damages on behalf of the purported class. On October 25, 2019, the defendants filed a Motion to Dismiss. On February 19, 2021, the Motion to Dismiss was granted with prejudice and judgment was entered for the defendants. On March 19, 2021, plaintiff filed a Motion to Alter or Amend the Judgment and For Leave to File the Proposed Amended Complaint, which was denied on May 5, 2021. The plaintiff appealed the Motion to Dismiss and denial of its Motion to Alter or Amend the Judgment and For Leave to File the Proposed Amended Complaint to the United States Court of Appeals for the Sixth Circuit. On March 31, 2022, the United States Court of Appeals for the Sixth Circuit issued an opinion reversing the dismissal of the Company and one former executive officer, affirming the dismissal of certain other former executive officers and remanding the action to the United States District Court for the Eastern District of Tennessee for proceedings consistent with the opinion. On March 22, 2024, the parties notified the District Court that they reached an agreement in principle to resolve this action for $13.7 million . Plaintiff will file a motion seeking entry of an order preliminarily approving the settlement and establishing notice procedures on or before May 6, 2024. The settlement is subject to both preliminary and final approval by the District Court. The Company's insurance carriers will fund the entire $13.7 million settlement amount. In connection with the pending settlement, m anagement recorded a liability of $13.7 million in " Other current liabilities" and a corresponding $13.7 million receivable from the Company's insurance carriers in "Trade receivables, contract assets and other receivables, net" during the first quarter of 2024. The Company's GEFCO, Inc. ("GEFCO") subsidiary has been named a defendant in a lawsuit originally filed on August 16, 2018, with an amended complaint filed on January 25, 2019, in the United States District Court for the Western District of Oklahoma. The action is styled VenVer S.A. and Americas Coil Tubing LLP v. GEFCO, Inc., Case No. CIV-18-790-SLP. The complaint alleges breaches of warranty and other similar claims regarding equipment sold by GEFCO in 2013. In addition to seeking a rescission of the purchase contract, the plaintiff is seeking various relief including special and consequential damages. The original purchase price of the equipment was approximately $8.5 million. On July 7, 2020, the plaintiffs filed a separate lawsuit directly against Astec Industries, Inc. that generally mirrored the allegations in the GEFCO suit. In January 2023, the court allowed Astec Industries, Inc. to be added as a defendant to the GEFCO suit and, as a result, the separate suit against Astec Industries, Inc. was dismissed. The Company and GEFCO each dispute the plaintiffs' allegations and are vigorously defending the suit. On March 14, 2024, VenVer filed a motion to set a trial date, which is pending with the court. The Company is unable to determine whether or not a future loss will be incurred due to this litigation or estimate the possible loss or range of loss, if any, at this time. On October 5, 2023, a jury in the 355 th Judicial District Court, Hood County, State of Texas, rendered a verdict against the Company's Telsmith, Inc. subsidiary in the matter styled 37 Building Products, Ltd. ("37 BP") v. Telsmith, Inc. ("Telsmith"), et al. originally filed on January 28, 2019, with additional defendants later added. All other defendants settled prior to trial except Telsmith. 37 BP alleged breaches of warranty and negligent misrepresentation regarding equipment manufactured by Telsmith and purchased by 37 BP in 2017 through one of the Company's dealers. On December 19, 2023, a judgment was issued in the amount of $7.9 million (the “Judgment”) which takes into account credit for settlement amounts of all other defendants in this case. Based on the jury verdict, management recorded a loss contingency of $6.4 million in "Selling, general and administrative expenses" in the Consolidated Statements of Operations and "Other current liabilities" in the Consolidated Balance Sheets during the third quarter of 2023 representing management's best estimate of the loss at that time. During the fourth quarter of 2023, the loss contingency was increased $1.5 million based on the Judgment to a total of $7.9 million for the year ended December 31, 2023. Telsmith filed a Motion for Judgment Notwithstanding the Verdict that the court denied on December 19, 2023. Telsmith filed a Motion for New Trial and Motion for Remittitur on January 18, 2024. The court denied Telsmith's motion for a new trial on February 9, 2024. On March 13, 2024, Telsmith filed a notice of appeal with the Texas Court of Appeals to appeal the Judgment by the district court. As of March 31, 2024, $8.1 million was the total loss contingency recorded inclusive of post-judgment interest which will continue to be incurred until the appeals process reaches a resolution. In addition to the matters noted above, the Company is currently a party, and may become a party, to various other claims and legal proceedings in the ordinary course of business. If management believes that a loss arising from any claims and legal proceedings is probable and can reasonably be estimated, the Company records the amount of the loss (excluding estimated legal fees) or, when the loss is estimated using a range and no point within the range is more probable than another, the minimum estimated liability. As management becomes aware of additional information concerning such contingencies, any potential liability related to these matters is assessed and the estimates are revised, if necessary. If management believes that a loss arising from such claims and legal proceedings is either (i) probable but cannot be reasonably estimated or (ii) reasonably estimable but not probable, the Company does not record the amount of the loss but does make specific disclosure of such matter. Based upon currently available information and with the advice of counsel, management believes that the ultimate outcome of its current claims and legal proceedings, individually and in the aggregate, will not have a material adverse effect on the Company's financial position, cash flows or results of operations. However, claims and legal proceedings are subject to inherent uncertainties, and rulings unfavorable to the Company could occur. If an unfavorable ruling were to occur, there exists the possibility of a material adverse effect on the Company's financial position, cash flows or results of operations.

Revenue Recognition

Revenue Recognition	3 Months Ended
	Mar. 31, 2024
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, 2024 and 2023 (excluding intercompany sales): Three Months Ended March 31, 2024 Three Months Ended March 31, 2023 (in millions) Infrastructure Solutions Materials Solutions Corporate and Other Total Infrastructure Solutions Materials Solutions Corporate and Other Total Net Sales-Domestic: Equipment sales $ 100.4 $ 36.6 $ — $ 137.0 $ 108.2 $ 67.7 $ — $ 175.9 Parts and component sales 70.8 19.5 — 90.3 59.4 21.3 — 80.7 Service and equipment installation revenue 8.2 0.1 — 8.3 16.5 0.2 — 16.7 Used equipment sales — — — — 0.9 — — 0.9 Freight revenue 5.7 1.9 — 7.6 6.9 2.1 — 9.0 Other 0.8 (0.8) — — 0.1 (2.2) 0.2 (1.9) Total domestic revenue 185.9 57.3 — 243.2 192.0 89.1 0.2 281.3 Net Sales-International: Equipment sales 8.3 30.2 — 38.5 15.3 24.3 — 39.6 Parts and component sales 7.6 16.4 — 24.0 7.2 15.7 — 22.9 Service and equipment installation revenue 0.2 2.6 — 2.8 0.5 1.6 — 2.1 Used equipment sales — — — — — 0.8 — 0.8 Freight revenue 0.2 0.5 — 0.7 0.4 0.7 — 1.1 Other — — — — 0.1 — — 0.1 Total international revenue 16.3 49.7 — 66.0 23.5 43.1 — 66.6 Total net sales $ 202.2 $ 107.0 $ — $ 309.2 $ 215.5 $ 132.2 $ 0.2 $ 347.9 Sales into major geographic regions were as follows: Three Months Ended March 31, (in millions) 2024 2023 United States $ 243.2 $ 281.3 Canada 18.9 21.8 Australia 9.3 9.7 Europe 9.0 11.0 Africa 9.0 8.1 Brazil 5.6 4.5 South America (Excluding Brazil) 5.0 5.6 Mexico 4.3 0.8 Asia 3.7 0.9 Central America (Excluding Mexico) 0.7 2.1 Other 0.5 2.1 Total foreign 66.0 66.6 Total net sales $ 309.2 $ 347.9 As of March 31, 2024, the Company had contract assets of $3.1 million and contract liabilities, excluding customer deposits, of $4.9 million, including $1.1 million of deferred revenue related to extended warranties. As of December 31, 2023, the Company had contract assets of $3.7 million and contract liabilities, excluding customer deposits, of $5.6 million, including $0.8 million of deferred revenue related to extended warranties.

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2024
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 Australia and Latin America ("LatAm") sites and Astec Digital have changed reportable segments beginning January 1, 2024. The Australia and LatAm sites were previously reported in the Infrastructure Solutions segment and have moved to the Materials Solutions segment. Astec Digital was previously included in the Corporate and Other category has moved to the Infrastructure Solutions segment. Segment Operating Adjusted EBITDA is the measure of segment profit or loss used by the Company's Chief Executive Officer ("CEO"), who is considered to be the CODM, to evaluate performance and allocate resources to the operating segments. Segment Operating Adjusted EBITDA, a non-GAAP financial measure, is defined as net income or loss before the impact of interest income or expense, income taxes, depreciation and amortization and certain other adjustments that are not considered by the CODM in the evaluation of ongoing operating performance. The Company's presentation of Segment Operating Adjusted EBITDA may not be comparable to similar measures used by other companies and is not necessarily indicative of the results of operations that would have occurred had each reportable segment been an independent, stand-alone entity during the periods presented. Beginning January 1, 2024, the Company's presentation of Segment Operating Adjusted EBITDA has been modified to exclude the net income or loss attributable to the noncontrolling interest and include intersegment profit. Prior periods have been revised to reflect the changes for both the segment composition and the segment profit or loss metric calculation for comparability. A brief description of each segment is as follows: Infrastructure Solutions – Sites within the Infrastructure Solutions segment design, engineer, manufacture and market a complete line of asphalt plants, concrete plants and their related components and ancillary equipment, including industrial automation controls and telematics platforms, as well as supply asphalt road construction equipment, industrial thermal systems and other heavy equipment. The sites based in North America within the Infrastructure Solutions segment are primarily manufacturing operations, while those located outside of North America service and install equipment and provide parts in the regions in which they operate for many of the products produced by all of the Company's manufacturing sites. The primary purchasers of the products produced by this segment are asphalt and concrete producers, highway and heavy equipment contractors, utility contractors, forestry and environmental recycling contractors and domestic and foreign governmental agencies. Materials Solutions – Sites within the Materials Solutions segment design and manufacture heavy processing equipment, in addition to servicing and supplying parts for the aggregate, metallic mining, recycling, ports and bulk handling markets. The sites within the Materials Solutions segment are primarily manufacturing operations, with the AME site functioning to market, service and install equipment and provide parts in the regions in which they operate for many of the products produced by all of the Company's manufacturing sites. Additionally, the Materials Solutions segment offers consulting and engineering services to provide complete "turnkey" processing systems. The principal purchasers of aggregate processing equipment include distributors, highway and heavy equipment contractors, sand and gravel producers, demolition, recycle and crushing contractors, open mine operators, quarry operators, port and inland terminal authorities, power stations and foreign and domestic governmental agencies. Corporate and Other – The Corporate and Other category consists primarily of the parent company and the captive which do not meet the requirements for separate disclosure as an operating segment or inclusion in one of the reporting segments. The parent company and the captive insurance company provide support and corporate oversight for other sites. The accounting policies of the reportable segments are the same as those described in Note 1, Basis of Presentation and Significant Accounting Policies. Intersegment sales and transfers between foreign subsidiaries are valued at prices comparable to those for unrelated parties. Segment Information: Three Months Ended March 31, 2024 Three Months Ended March 31, 2023 (in millions) Infrastructure Solutions Materials Solutions Corporate and Other Total Infrastructure Solutions Materials Solutions Corporate and Other Total Revenues from external customers $ 202.2 $ 107.0 $ — $ 309.2 $ 215.5 $ 132.2 $ 0.2 $ 347.9 Intersegment sales 6.8 0.5 — 7.3 6.6 0.4 — 7.0 Segment Operating Adjusted EBITDA 25.6 5.3 (12.0) 18.9 28.5 14.6 (7.9) 35.2 A reconciliation of total Segment Operating Adjusted EBITDA to the Company's "Net income attributable to controlling interest" is as follows: Three Months Ended March 31, (in millions) 2024 2023 Segment Operating Adjusted EBITDA $ 18.9 $ 35.2 Adjustments: Transformation program (6.3) (7.2) Restructuring and other related charges (0.1) (7.1) Gain on sale of property and equipment, net 0.9 3.4 Interest expense, net (2.1) (1.5) Depreciation and amortization (6.5) (6.3) Income tax provision (1.4) (4.4) Net income attributable to controlling interest $ 3.4 $ 12.1

Strategic Transformation, Restr

Strategic Transformation, Restructuring and Other Asset Gains and Charges	3 Months Ended
	Mar. 31, 2024
Restructuring, Settlement and Impairment Provisions [Abstract]
Strategic Transformation, Restructuring and Other Asset Gains and Charges	Strategic Transformation, Restructuring and Other Asset Gains and Charges The Company's strategic transformation program includes two ongoing initiatives. The Company is undergoing a multi-year phased implementation of a standardized enterprise resource planning ("ERP") across the global organization, which will replace much of the existing disparate core financial systems. The upgraded ERP will initially convert internal operations, manufacturing, finance, human capital resources management and customer relationship systems to cloud-based platforms. An implementation of this scale is a major financial undertaking and requires substantial time and attention of management and key employees. In addition, a lean manufacturing initiative at one of the Company's largest sites was largely completed during 2023. Certain capital investments related to this initiative are continuing in early 2024. Total costs of $6.5 million were incurred related to these strategic transformation initiatives in the three months ended March 31, 2024, of which $6.4 million and $0.1 million are recorded in "Selling, general and administrative expenses" and "Cost of sales," respectively, in the Consolidated Statements of Operations. Costs totaling $7.2 million were incurred in the three months ended March 31, 2023 and are recorded in "Selling, general and administrative expenses" in the Consolidated Statements of Operations. Capitalized implementation costs associated with the ERP implementation totaled $34.5 million, of which $3.9 million and $30.6 million were included in "Prepaid expenses and other assets" and "Other long-term assets," respectively, in the Consolidated Balance Sheets as of March 31, 2024. Capitalized implementation costs totaled $30.6 million, of which $3.3 million and $27.3 million were included in "Prepaid expenses and other assets" and "Other long-term assets," respectively, in the Consolidated Balance Sheets as of December 31, 2023. Amortization of these capitalized implementation costs totaled $0.7 million and $0.1 million during the three months ended March 31, 2024 and 2023, respectively, which is included 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. The Company reports asset impairment charges and gains or losses on the sales of property and equipment collectively, with restructuring charges in "Restructuring and other asset (gains) charges, net" in the Consolidated Statements of Operations to the extent they are experienced. Restructuring charges and net gain on sale of property and equipment are presented below: Three Months Ended March 31, (in millions) 2024 2023 Restructuring charges: Costs associated with leadership change and overhead restructuring $ — $ 7.0 Costs associated with exited operations - Enid 0.1 0.1 Total restructuring related charges 0.1 7.1 Gain on sale of property and equipment, net: Gain on sale of property and equipment, net (0.9) (3.4) Total gain on sale of property and equipment, net (0.9) (3.4) Restructuring and other asset (gains) charges, net $ (0.8) $ 3.7 Restructuring charges by segment are as follows: Three Months Ended March 31, (in millions) 2024 2023 Infrastructure Solutions $ 0.1 $ 1.0 Corporate and Other — 6.1 Total restructuring related charges $ 0.1 $ 7.1 Net gains on sale of property and equipment by segment are as follows: Three Months Ended March 31, (in millions) 2024 2023 Infrastructure Solutions $ (0.1) $ (3.4) Materials Solutions (0.8) — Total gain on sale of property and equipment, net $ (0.9) $ (3.4) In January 2021, the Company announced plans to close the Tacoma, Washington facility in order to simplify and consolidate operations within the Infrastructure Solutions segment. The sale of the Tacoma facility's land, building and certain equipment assets was completed in the first quarter of 2023 for $19.9 million. The Company recorded a gain on the sale of $3.4 million, which was recorded in "Restructuring and other asset (gains) charges, net" in the Consolidated Statements of Operations. Effective as of January 6, 2023, Mr. Barry A. Ruffalo's employment as President and CEO was terminated. In connection with his separation, the Company entered into an agreement with Mr. Ruffalo (the "Separation Agreement"), pursuant to which Mr. Ruffalo was entitled to certain severance payments and benefits. During the first quarter of 2023, $1.8 million of restructuring costs, related to the modification of Mr. Ruffalo's equity awards and other third-party transition support costs, were recorded in "Restructuring and other asset (gains) charges, net" in the Consolidated Statements of Operations. The related recovery of $1.6 million of incurred share-based compensation expense was recorded in "Selling, general and administrative expenses" in the Consolidated Statements of Operations during the first quarter of 2023. The Separation Agreement also included a release and waiver by Mr. Ruffalo and other customary provisions. Management continually reviews the Company's organizational structure and operations to ensure they are optimized and aligned with achieving near-term and long-term operational and profitability targets. In connection with this review, in February 2023, the Company implemented a limited restructuring plan to right-size and reduce the fixed cost structure of certain overhead departments. Charges of $5.2 million for employee termination costs, including equity award modifications, were incurred in the first quarter of 2023 and recorded in "Restructuring and other asset (gains) charges, net" in the Consolidated Statements of Operations. The related recovery of $0.8 million of incurred share-based compensation expense was recorded in "Selling, general and administrative expenses" in the Consolidated Statements of Operations.

Earnings Per Common Share

Earnings Per Common Share	3 Months Ended
	Mar. 31, 2024
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 deferred compensation programs, using the treasury stock method. Performance stock units, which are considered contingently issuable, are considered dilutive when the related performance criterion has been met. The following table sets forth a reconciliation of the number of shares used in the computation of basic and diluted earnings per common share: Three Months Ended March 31, 2024 2023 Denominator: Denominator for basic earnings per common share 22,762,098 22,655,821 Effect of dilutive securities 72,716 87,116 Denominator for diluted earnings per common share 22,834,814 22,742,937 Antidilutive securities excluded from the calculation of diluted earnings per share 14,130 63,949

Basis of Presentation and Sig_2

Basis of Presentation and Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2024
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, 2023. 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 loss attributable to noncontrolling interest" in the Consolidated Statements of Operations. The Company executed an agreement in February 2022 with the noncontrolling interest holder 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 resolution of certain disputes between the parties. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported and disclosed in the consolidated financial statements and accompanying notes. Significant items subject to such estimates and assumptions include inventory net realizable value, product warranty obligations, self-insurance loss reserves, capitalization of internal use software, goodwill and other intangible assets impairment and the measurement of income tax assets and liabilities. The Company bases its estimates on historical experience and on various other assumptions that the Company believes to be reasonable under the circumstances. On an ongoing basis, the Company evaluates these assumptions, judgments and estimates. Actual results could differ from those estimates. In the opinion of management, the consolidated financial statements contain all adjustments necessary for a fair statement of the results of operations and comprehensive (loss) income for the three months ended March 31, 2024 and 2023, the financial position as of March 31, 2024 and December 31, 2023 and the cash flows for the three months ended March 31, 2024 and 2023, 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 Issued Accounting Pronouncements Not Yet Adopted	Recently Issued Accounting Pronouncements Not Yet Adopted In November 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2023-07, "Segment Reporting (Topic 280): Improvement to Reportable Segment Disclosures," which requires entities to disclose significant segment expenses, other segment items, the title and position of the chief operating decision maker ("CODM") and information related to how the CODM assesses segment performance and allocates resources, among certain other required disclosures. Additionally, current annual disclosures will be required in interim periods. The new standard is effective, on a retrospective basis, for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact this ASU will have on its financial statement disclosures. In December 2023, the FASB issued ASU 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures," which requires entities to disclose specific categories in the income tax rate reconciliation and provide additional information for reconciling items that meet a specified quantitative threshold. In addition, the new standard requires disclosure of the amount of income taxes paid disaggregated by federal, state and foreign taxes and by jurisdiction for exceeding a specified quantitative threshold. Additionally, income or loss from continuing operations before income tax will be required to be disaggregated between domestic and foreign classifications and income tax expense will be required to be disaggregated between federal, state and foreign classifications. The new standard is effective for fiscal years beginning after December 15, 2024 on a prospective basis, with retrospective application permitted. The Company is currently evaluating the impact this ASU will have on its financial statement disclosures. In March 2024, the SEC adopted the final rule under SEC Release No. 33-11275, "The Enhancement and Standardization of Climate-Related Disclosures for Investors," which will require registrants to disclose certain climate-related information in registration statements and annual reports. On April 4, 2024, the SEC voluntarily stayed the effective date of the final rule pending judicial review of petitions challenging it, which have been consolidated for review by the U.S. District Court of Appeals for the 8th Circuit. Notwithstanding any changes as a result of these challenges, the disclosure requirements will apply to the Company's fiscal year beginning January 1, 2025. The Company is currently evaluating the impact this final rule will have on its financial statement disclosures. Recent accounting guidance not discussed above is not applicable, did not have, or is not expected to have a material impact on the Company.

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2024
Inventory Disclosure [Abstract]
Schedule of Inventory, Current	Inventories consist of the following: (in millions) March 31, 2024 December 31, 2023 Raw materials and parts $ 299.6 $ 298.6 Work-in-process 104.4 87.1 Finished goods 78.0 68.3 Used equipment 2.0 1.6 Total $ 484.0 $ 455.6

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2024
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, 2024 and December 31, 2023 are Level 1 and Level 2 in the fair value hierarchy defined above: March 31, 2024 (in millions) Level 1 Level 2 Total Financial assets: Trading equity securities: Deferred compensation programs' mutual funds $ 5.1 $ — $ 5.1 Preferred stocks 0.3 — 0.3 Equity funds 0.7 — 0.7 Trading debt securities: Corporate bonds 4.3 — 4.3 Agency bonds — 2.5 2.5 U.S. government securities 2.9 — 2.9 Asset-backed securities — 4.3 4.3 Exchange traded funds 1.4 — 1.4 Mortgage backed securities — 0.4 0.4 Other 0.2 0.4 0.6 Total financial assets $ 14.9 $ 7.6 $ 22.5 Financial liabilities: Deferred compensation programs' liabilities $ — $ 6.6 $ 6.6 Total financial liabilities $ — $ 6.6 $ 6.6 December 31, 2023 (in millions) Level 1 Level 2 Total Financial assets: Trading equity securities: Deferred compensation programs' mutual funds $ 4.2 $ — $ 4.2 Preferred stocks 0.3 — 0.3 Equity funds 0.7 — 0.7 Trading debt securities: Corporate bonds 3.4 — 3.4 Agency bonds — 2.5 2.5 U.S. government securities 1.9 — 1.9 Asset-backed securities — 4.0 4.0 Exchange traded funds 1.3 — 1.3 Mortgage backed securities — 0.5 0.5 Other 0.2 0.5 0.7 Total financial assets $ 12.0 $ 7.5 $ 19.5 Financial liabilities: Derivative financial instruments $ — $ 0.1 $ 0.1 Deferred compensation programs' liabilities — 5.5 5.5 Total financial liabilities $ — $ 5.6 $ 5.6

Product Warranty Reserves (Tabl

Product Warranty Reserves (Tables)	3 Months Ended
	Mar. 31, 2024
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, 2024 and 2023 are as follows: Three Months Ended March 31, (in millions) 2024 2023 Reserve balance, beginning of the period $ 16.5 $ 11.9 Warranty liabilities accrued 4.2 3.9 Warranty liabilities settled (4.5) (3.4) Reserve balance, end of the period $ 16.2 $ 12.4

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Mar. 31, 2024
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, 2024 and 2023 (excluding intercompany sales): Three Months Ended March 31, 2024 Three Months Ended March 31, 2023 (in millions) Infrastructure Solutions Materials Solutions Corporate and Other Total Infrastructure Solutions Materials Solutions Corporate and Other Total Net Sales-Domestic: Equipment sales $ 100.4 $ 36.6 $ — $ 137.0 $ 108.2 $ 67.7 $ — $ 175.9 Parts and component sales 70.8 19.5 — 90.3 59.4 21.3 — 80.7 Service and equipment installation revenue 8.2 0.1 — 8.3 16.5 0.2 — 16.7 Used equipment sales — — — — 0.9 — — 0.9 Freight revenue 5.7 1.9 — 7.6 6.9 2.1 — 9.0 Other 0.8 (0.8) — — 0.1 (2.2) 0.2 (1.9) Total domestic revenue 185.9 57.3 — 243.2 192.0 89.1 0.2 281.3 Net Sales-International: Equipment sales 8.3 30.2 — 38.5 15.3 24.3 — 39.6 Parts and component sales 7.6 16.4 — 24.0 7.2 15.7 — 22.9 Service and equipment installation revenue 0.2 2.6 — 2.8 0.5 1.6 — 2.1 Used equipment sales — — — — — 0.8 — 0.8 Freight revenue 0.2 0.5 — 0.7 0.4 0.7 — 1.1 Other — — — — 0.1 — — 0.1 Total international revenue 16.3 49.7 — 66.0 23.5 43.1 — 66.6 Total net sales $ 202.2 $ 107.0 $ — $ 309.2 $ 215.5 $ 132.2 $ 0.2 $ 347.9
Revenue from External Customers by Geographic Areas	Sales into major geographic regions were as follows: Three Months Ended March 31, (in millions) 2024 2023 United States $ 243.2 $ 281.3 Canada 18.9 21.8 Australia 9.3 9.7 Europe 9.0 11.0 Africa 9.0 8.1 Brazil 5.6 4.5 South America (Excluding Brazil) 5.0 5.6 Mexico 4.3 0.8 Asia 3.7 0.9 Central America (Excluding Mexico) 0.7 2.1 Other 0.5 2.1 Total foreign 66.0 66.6 Total net sales $ 309.2 $ 347.9

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2024
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Segment Information: Three Months Ended March 31, 2024 Three Months Ended March 31, 2023 (in millions) Infrastructure Solutions Materials Solutions Corporate and Other Total Infrastructure Solutions Materials Solutions Corporate and Other Total Revenues from external customers $ 202.2 $ 107.0 $ — $ 309.2 $ 215.5 $ 132.2 $ 0.2 $ 347.9 Intersegment sales 6.8 0.5 — 7.3 6.6 0.4 — 7.0 Segment Operating Adjusted EBITDA 25.6 5.3 (12.0) 18.9 28.5 14.6 (7.9) 35.2
Reconciliation of Operating Profit (Loss) from Segments to Consolidated	A reconciliation of total Segment Operating Adjusted EBITDA to the Company's "Net income attributable to controlling interest" is as follows: Three Months Ended March 31, (in millions) 2024 2023 Segment Operating Adjusted EBITDA $ 18.9 $ 35.2 Adjustments: Transformation program (6.3) (7.2) Restructuring and other related charges (0.1) (7.1) Gain on sale of property and equipment, net 0.9 3.4 Interest expense, net (2.1) (1.5) Depreciation and amortization (6.5) (6.3) Income tax provision (1.4) (4.4) Net income attributable to controlling interest $ 3.4 $ 12.1

Strategic Transformation, Res_2

Strategic Transformation, Restructuring and Other Asset Gains and Charges (Tables)	3 Months Ended
	Mar. 31, 2024
Restructuring, Settlement and Impairment Provisions [Abstract]
Restructuring and Related Costs	Restructuring charges and net gain on sale of property and equipment are presented below: Three Months Ended March 31, (in millions) 2024 2023 Restructuring charges: Costs associated with leadership change and overhead restructuring $ — $ 7.0 Costs associated with exited operations - Enid 0.1 0.1 Total restructuring related charges 0.1 7.1 Gain on sale of property and equipment, net: Gain on sale of property and equipment, net (0.9) (3.4) Total gain on sale of property and equipment, net (0.9) (3.4) Restructuring and other asset (gains) charges, net $ (0.8) $ 3.7 Restructuring charges by segment are as follows: Three Months Ended March 31, (in millions) 2024 2023 Infrastructure Solutions $ 0.1 $ 1.0 Corporate and Other — 6.1 Total restructuring related charges $ 0.1 $ 7.1
Schedule of Fixed Asset Sales	Net gains on sale of property and equipment by segment are as follows: Three Months Ended March 31, (in millions) 2024 2023 Infrastructure Solutions $ (0.1) $ (3.4) Materials Solutions (0.8) — Total gain on sale of property and equipment, net $ (0.9) $ (3.4)

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	3 Months Ended
	Mar. 31, 2024
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, 2024 2023 Denominator: Denominator for basic earnings per common share 22,762,098 22,655,821 Effect of dilutive securities 72,716 87,116 Denominator for diluted earnings per common share 22,834,814 22,742,937 Antidilutive securities excluded from the calculation of diluted earnings per share 14,130 63,949

Basis of Presentation and Sig_3

Basis of Presentation and Significant Accounting Policies - Description of Business (Details)	3 Months Ended
	Mar. 31, 2024 segment
Accounting Policies [Abstract]
Number of reportable segments	2

Basis of Presentation and Sig_4

Basis of Presentation and Significant Accounting Policies - Basis of Presentation (Details) R$ in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2024 USD ($)	Mar. 31, 2024 BRL (R$)	Mar. 31, 2023 USD ($)
Product Information [Line Items]
Noncontrolling interest, decrease from redemptions or purchase of interests	$ 2	R$ 10.0
Decrease in cost of sales	$ (232.3)		$ (258.7)
Revision of Prior Period, Error Correction, Adjustment
Product Information [Line Items]
Decrease in cost of sales			$ 1.9
Consolidated Subsidiary
Product Information [Line Items]
Noncontrolling interest, ownership percentage by parent	7%	7%

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Raw materials and parts	$ 299.6	$ 298.6
Work-in-process	104.4	87.1
Finished goods	78	68.3
Used equipment	2	1.6
Total	$ 484	$ 455.6

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, 2024	Dec. 31, 2023
Financial assets:
Total financial assets	$ 22.5	$ 19.5
Financial liabilities:
Derivative financial instruments		0.1
Deferred compensation programs' liabilities	6.6	5.5
Total financial liabilities	6.6	5.6
Corporate bonds
Financial assets:
Trading debt securities:	4.3	3.4
Agency bonds
Financial assets:
Trading debt securities:	2.5	2.5
U.S. government securities
Financial assets:
Trading debt securities:	2.9	1.9
Asset-backed securities
Financial assets:
Trading debt securities:	4.3	4
Exchange traded funds
Financial assets:
Trading debt securities:	1.4	1.3
Mortgage backed securities
Financial assets:
Trading debt securities:	0.4	0.5
Other
Financial assets:
Trading debt securities:	0.6	0.7
Preferred stocks
Financial assets:
Trading equity securities:	0.3	0.3
Equity Funds
Financial assets:
Trading equity securities:	0.7	0.7
Supplemental Employee Retirement Plan and Non-Qualified Deferred Compensation Plan | Mutual Fund
Financial assets:
Trading equity securities:	5.1	4.2
Level 1
Financial assets:
Total financial assets	14.9	12
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:	4.3	3.4
Level 1 | Agency bonds
Financial assets:
Trading debt securities:	0	0
Level 1 | U.S. government securities
Financial assets:
Trading debt securities:	2.9	1.9
Level 1 | Asset-backed securities
Financial assets:
Trading debt securities:	0	0
Level 1 | Exchange traded funds
Financial assets:
Trading debt securities:	1.4	1.3
Level 1 | Mortgage backed securities
Financial assets:
Trading debt securities:	0	0
Level 1 | Other
Financial assets:
Trading debt securities:	0.2	0.2
Level 1 | Preferred stocks
Financial assets:
Trading equity securities:	0.3	0.3
Level 1 | Equity Funds
Financial assets:
Trading equity securities:	0.7	0.7
Level 1 | Supplemental Employee Retirement Plan and Non-Qualified Deferred Compensation Plan | Mutual Fund
Financial assets:
Trading equity securities:	5.1	4.2
Level 2
Financial assets:
Total financial assets	7.6	7.5
Financial liabilities:
Derivative financial instruments		0.1
Deferred compensation programs' liabilities	6.6	5.5
Total financial liabilities	6.6	5.6
Level 2 | Corporate bonds
Financial assets:
Trading debt securities:	0	0
Level 2 | Agency bonds
Financial assets:
Trading debt securities:	2.5	2.5
Level 2 | U.S. government securities
Financial assets:
Trading debt securities:	0	0
Level 2 | Asset-backed securities
Financial assets:
Trading debt securities:	4.3	4
Level 2 | Exchange traded funds
Financial assets:
Trading debt securities:	0	0
Level 2 | Mortgage backed securities
Financial assets:
Trading debt securities:	0.4	0.5
Level 2 | Other
Financial assets:
Trading debt securities:	0.4	0.5
Level 2 | Preferred stocks
Financial assets:
Trading equity securities:	0	0
Level 2 | Equity Funds
Financial assets:
Trading equity securities:	0	0
Level 2 | Supplemental Employee Retirement Plan and Non-Qualified Deferred Compensation Plan | Mutual Fund
Financial assets:
Trading equity securities:	$ 0	$ 0

Product Warranty Reserves (Deta

Product Warranty Reserves (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Movement in Standard and Extended Product Warranty Accrual, Increase (Decrease) [Roll Forward]
Reserve balance, beginning of the period	$ 16.5	$ 11.9
Warranty liabilities accrued	4.2	3.9
Warranty liabilities settled	(4.5)	(3.4)
Reserve balance, end of the period	$ 16.2	$ 12.4
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, 2024	Dec. 31, 2023
Accrued Loss Reserves [Abstract]
Liability for claims and claims adjustment expense	$ 6.9	$ 7.2
Self insurance reserve, noncurrent	$ 5	$ 4.5

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Income tax provision	$ 1.4	$ 4.4
Effective income tax rate reconciliation, percent	29.80%	26.70%
Unrecognized tax benefits	$ 13.2		$ 13
Unrecognized tax benefits, period increase (decrease)	$ 0.2

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Millions		3 Months Ended		12 Months Ended
	Aug. 16, 2018	Mar. 31, 2024	Dec. 31, 2023	Dec. 31, 2023	Dec. 19, 2023	Sep. 30, 2023
Other Commitments [Line Items]
Contractual obligation		$ 0.9	$ 1.1	$ 1.1
Percentage of potential contingent liability on unpaid balance		1.75%		1.75%
Maximum exposure		$ 0.1
Loss contingency accrual		0.6	0.6	$ 0.6
Settlement liabilities, current		13.7
Settlement assets, current		13.7
Loss contingency, estimate of possible loss		8.1	7.9	$ 7.9	$ 7.9	$ 6.4
Loss contingency, estimate of possible loss, increase in period			$ 1.5
Pending Litigation
Other Commitments [Line Items]
Loss contingency, damages sought, value	$ 8.5
Letter of Credit Lender
Other Commitments [Line Items]
Amount of letters of credit outstanding		9.8
Contingent liabilities for letters of credit issued on behalf of foreign subsidiaries		5.6
Performance Guarantee
Other Commitments [Line Items]
Contingent liabilities for letters of credit issued on behalf of foreign subsidiaries		7.6
Revolving Credit Facility
Other Commitments [Line Items]
Line of credit facility, maximum borrowing capacity		250
Letter of Credit | Unused lines of Credit
Other Commitments [Line Items]
Amount of letters of credit outstanding		20.2
Letter of Credit | Performance Guarantee | Unused lines of Credit
Other Commitments [Line Items]
Letters of credit issued on behalf of foreign subsidiaries		$ 10.7

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Disaggregation of Revenue [Abstract]
Net sales	$ 309.2	$ 347.9
United States
Disaggregation of Revenue [Abstract]
Net sales	243.2	281.3
United States | Equipment sales
Disaggregation of Revenue [Abstract]
Net sales	137	175.9
United States | Parts and component sales
Disaggregation of Revenue [Abstract]
Net sales	90.3	80.7
United States | Service and equipment installation revenue
Disaggregation of Revenue [Abstract]
Net sales	8.3	16.7
United States | Used equipment sales
Disaggregation of Revenue [Abstract]
Net sales	0	0.9
United States | Freight revenue
Disaggregation of Revenue [Abstract]
Net sales	7.6	9
United States | Other
Disaggregation of Revenue [Abstract]
Net sales	0	(1.9)
Canada
Disaggregation of Revenue [Abstract]
Net sales	18.9	21.8
Australia
Disaggregation of Revenue [Abstract]
Net sales	9.3	9.7
Europe
Disaggregation of Revenue [Abstract]
Net sales	9	11
Africa
Disaggregation of Revenue [Abstract]
Net sales	9	8.1
Brazil
Disaggregation of Revenue [Abstract]
Net sales	5.6	4.5
South America (Excluding Brazil)
Disaggregation of Revenue [Abstract]
Net sales	5	5.6
Mexico
Disaggregation of Revenue [Abstract]
Net sales	4.3	0.8
Asia
Disaggregation of Revenue [Abstract]
Net sales	3.7	0.9
Central America (Excluding Mexico)
Disaggregation of Revenue [Abstract]
Net sales	0.7	2.1
Other
Disaggregation of Revenue [Abstract]
Net sales	0.5	2.1
International
Disaggregation of Revenue [Abstract]
Net sales	66	66.6
International | Equipment sales
Disaggregation of Revenue [Abstract]
Net sales	38.5	39.6
International | Parts and component sales
Disaggregation of Revenue [Abstract]
Net sales	24	22.9
International | Service and equipment installation revenue
Disaggregation of Revenue [Abstract]
Net sales	2.8	2.1
International | Used equipment sales
Disaggregation of Revenue [Abstract]
Net sales	0	0.8
International | Freight revenue
Disaggregation of Revenue [Abstract]
Net sales	0.7	1.1
International | Other
Disaggregation of Revenue [Abstract]
Net sales	0	0.1
Corporate and Other
Disaggregation of Revenue [Abstract]
Net sales	0	0.2
Corporate and Other | United States
Disaggregation of Revenue [Abstract]
Net sales	0	0.2
Corporate and Other | United States | Equipment sales
Disaggregation of Revenue [Abstract]
Net sales	0	0
Corporate and Other | United States | Parts and component sales
Disaggregation of Revenue [Abstract]
Net sales	0	0
Corporate and Other | United States | Service and equipment installation revenue
Disaggregation of Revenue [Abstract]
Net sales	0	0
Corporate and Other | United States | Used equipment sales
Disaggregation of Revenue [Abstract]
Net sales	0	0
Corporate and Other | United States | Freight revenue
Disaggregation of Revenue [Abstract]
Net sales	0	0
Corporate and Other | United States | Other
Disaggregation of Revenue [Abstract]
Net sales	0	0.2
Corporate and Other | International
Disaggregation of Revenue [Abstract]
Net sales	0	0
Corporate and Other | International | Equipment sales
Disaggregation of Revenue [Abstract]
Net sales	0	0
Corporate and Other | International | Parts and component sales
Disaggregation of Revenue [Abstract]
Net sales	0	0
Corporate and Other | International | Service and equipment installation revenue
Disaggregation of Revenue [Abstract]
Net sales	0	0
Corporate and Other | International | Used equipment sales
Disaggregation of Revenue [Abstract]
Net sales	0	0
Corporate and Other | International | Freight revenue
Disaggregation of Revenue [Abstract]
Net sales	0	0
Corporate and Other | International | Other
Disaggregation of Revenue [Abstract]
Net sales	0	0
Infrastructure Solutions
Disaggregation of Revenue [Abstract]
Net sales	202.2	215.5
Infrastructure Solutions | United States
Disaggregation of Revenue [Abstract]
Net sales	185.9	192
Infrastructure Solutions | United States | Equipment sales
Disaggregation of Revenue [Abstract]
Net sales	100.4	108.2
Infrastructure Solutions | United States | Parts and component sales
Disaggregation of Revenue [Abstract]
Net sales	70.8	59.4
Infrastructure Solutions | United States | Service and equipment installation revenue
Disaggregation of Revenue [Abstract]
Net sales	8.2	16.5
Infrastructure Solutions | United States | Used equipment sales
Disaggregation of Revenue [Abstract]
Net sales	0	0.9
Infrastructure Solutions | United States | Freight revenue
Disaggregation of Revenue [Abstract]
Net sales	5.7	6.9
Infrastructure Solutions | United States | Other
Disaggregation of Revenue [Abstract]
Net sales	0.8	0.1
Infrastructure Solutions | International
Disaggregation of Revenue [Abstract]
Net sales	16.3	23.5
Infrastructure Solutions | International | Equipment sales
Disaggregation of Revenue [Abstract]
Net sales	8.3	15.3
Infrastructure Solutions | International | Parts and component sales
Disaggregation of Revenue [Abstract]
Net sales	7.6	7.2
Infrastructure Solutions | International | Service and equipment installation revenue
Disaggregation of Revenue [Abstract]
Net sales	0.2	0.5
Infrastructure Solutions | International | Used equipment sales
Disaggregation of Revenue [Abstract]
Net sales	0	0
Infrastructure Solutions | International | Freight revenue
Disaggregation of Revenue [Abstract]
Net sales	0.2	0.4
Infrastructure Solutions | International | Other
Disaggregation of Revenue [Abstract]
Net sales	0	0.1
Materials Solutions
Disaggregation of Revenue [Abstract]
Net sales	107	132.2
Materials Solutions | United States
Disaggregation of Revenue [Abstract]
Net sales	57.3	89.1
Materials Solutions | United States | Equipment sales
Disaggregation of Revenue [Abstract]
Net sales	36.6	67.7
Materials Solutions | United States | Parts and component sales
Disaggregation of Revenue [Abstract]
Net sales	19.5	21.3
Materials Solutions | United States | Service and equipment installation revenue
Disaggregation of Revenue [Abstract]
Net sales	0.1	0.2
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	1.9	2.1
Materials Solutions | United States | Other
Disaggregation of Revenue [Abstract]
Net sales	(0.8)	(2.2)
Materials Solutions | International
Disaggregation of Revenue [Abstract]
Net sales	49.7	43.1
Materials Solutions | International | Equipment sales
Disaggregation of Revenue [Abstract]
Net sales	30.2	24.3
Materials Solutions | International | Parts and component sales
Disaggregation of Revenue [Abstract]
Net sales	16.4	15.7
Materials Solutions | International | Service and equipment installation revenue
Disaggregation of Revenue [Abstract]
Net sales	2.6	1.6
Materials Solutions | International | Used equipment sales
Disaggregation of Revenue [Abstract]
Net sales	0	0.8
Materials Solutions | International | Freight revenue
Disaggregation of Revenue [Abstract]
Net sales	0.5	0.7
Materials Solutions | International | Other
Disaggregation of Revenue [Abstract]
Net sales	$ 0	$ 0

Revenue Recognition - Narrative

Revenue Recognition - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Disaggregation of Revenue [Line Items]
Contract assets	$ 3.1	$ 3.7
Contract with customer, liability	4.9	5.6
Extended Warranty Revenue
Disaggregation of Revenue [Line Items]
Deferred revenue	$ 1.1	$ 0.8

Segment Information- Narrative

Segment Information- Narrative (Details)	3 Months Ended
	Mar. 31, 2024 segment
Segment Reporting [Abstract]
Number of reportable segments	2

Segment Information - Summary o

Segment Information - Summary of Segment Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Revenue	$ 309.2	$ 347.9
Infrastructure Solutions
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Revenue	202.2	215.5
Materials Solutions
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Revenue	107	132.2
Operating Segments
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Revenue	309.2	347.9
Segment Operating Adjusted EBITDA	18.9	35.2
Operating Segments | Infrastructure Solutions
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Revenue	202.2	215.5
Segment Operating Adjusted EBITDA	25.6	28.5
Operating Segments | Materials Solutions
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Revenue	107	132.2
Segment Operating Adjusted EBITDA	5.3	14.6
Intersegment Eliminations
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Revenue	7.3	7
Intersegment Eliminations | Infrastructure Solutions
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Revenue	6.8	6.6
Intersegment Eliminations | Materials Solutions
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Revenue	0.5	0.4
Corporate and Other
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Revenue	0	0.2
Segment Operating Adjusted EBITDA	(12)	(7.9)
Corporate and Other
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Revenue	$ 0	$ 0

Segment Information - Reconcili

Segment Information - Reconciliation of Total Segment Profits to Consolidated Totals (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Segment Reconciliation [Abstract]
Gain on sale of property and equipment, net	$ 0.9	$ 3.4
Income tax provision	(1.4)	(4.4)
Net income attributable to controlling interest	3.4	12.1
Operating Segments
Segment Reconciliation [Abstract]
Segment Operating Adjusted EBITDA	18.9	35.2
Transformation program	(6.3)	(7.2)
Restructuring and other related charges	(0.1)	(7.1)
Gain on sale of property and equipment, net	0.9	3.4
Interest expense, net	(2.1)	(1.5)
Depreciation and amortization	(6.5)	(6.3)
Income tax provision	$ (1.4)	$ (4.4)

Strategic Transformation, Res_3

Strategic Transformation, Restructuring and Other Asset Gains and Charges - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Restructuring charges:
Hosting arrangement, service contract, implementation cost, capitalized, before accumulated amortization	$ 34.5		$ 30.6
Gain (loss) on disposition of property plant equipment	0.9	$ 3.4
Costs associated with leadership change and overhead restructuring	0	7
Discontinued Operations, Disposed of by Sale | Tacoma Exit Plan
Restructuring charges:
Disposal group, including discontinued operation, consideration		19.9
Gain (loss) on disposition of property plant equipment		3.4
Prepaid Expenses and Other Current Assets
Restructuring charges:
Hosting arrangement, service contract, implementation cost, capitalized, before accumulated amortization	3.9		3.3
Other Noncurrent Assets
Restructuring charges:
Hosting arrangement, service contract, implementation cost, capitalized, before accumulated amortization	30.6		$ 27.3
Selling, General and Administrative Expenses
Restructuring charges:
Hosting arrangement, service contract, implementation cost, expense, amortization	0.7	0.1
Strategic Transformation Initiatives
Restructuring charges:
Transformation program	6.5
Strategic Transformation Initiatives | Selling, General and Administrative Expenses
Restructuring charges:
Transformation program	6.4	7.2
Strategic Transformation Initiatives | Cost of Sales
Restructuring charges:
Transformation program	$ 0.1
Other Restructuring
Restructuring charges:
Share-based payment arrangement, recovery of expense		(0.8)
Restructuring and related cost, incurred cost		5.2
Other Restructuring | Chief Executive Officer
Restructuring charges:
Costs associated with leadership change and overhead restructuring		1.8
Share-based payment arrangement, recovery of expense		$ (1.6)

Strategic Transformation, Res_4

Strategic Transformation, Restructuring and Other Asset Gains and Charges - Restructuring and the Net Gain on Sale of Property and Equipment (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Restructuring charges:
Costs associated with leadership change and overhead restructuring	$ 0	$ 7
Total restructuring related charges	0.1	7.1
Gain on sale of property and equipment, net:
Gain on disposition of property and equipment, net	(0.9)	(3.4)
Total gain on sale of property and equipment, net	(0.9)	(3.4)
Restructuring and other asset (gains) charges, net	(0.8)	3.7
Facility Closing | Enid Exit Plan
Restructuring charges:
Business exit costs	$ 0.1	$ 0.1

Strategic Transformation, Res_5

Strategic Transformation, Restructuring and Other Asset Gains and Charges - Restructuring Charge by Segment (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Restructuring charges:
Total restructuring related charges	$ 0.1	$ 7.1
Corporate and Other
Restructuring charges:
Total restructuring related charges	0	6.1
Infrastructure Solutions | Operating Segments
Restructuring charges:
Total restructuring related charges	$ 0.1	$ 1

Strategic Transformation, Res_6

Strategic Transformation, Restructuring and Other Asset Gains and Charges - Sale of Fixed Assets by Segment (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Restructuring charges:
Total gain on sale of property and equipment, net	$ (0.9)	$ (3.4)
Operating Segments
Restructuring charges:
Total gain on sale of property and equipment, net	(0.9)	(3.4)
Infrastructure Solutions | Operating Segments
Restructuring charges:
Total gain on sale of property and equipment, net	(0.1)	(3.4)
Materials Solutions
Restructuring charges:
Total gain on sale of property and equipment, net	$ (0.8)	$ 0

Earnings Per Common Share (Deta

Earnings Per Common Share (Details) - shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Denominator:
Denominator for basic earnings per common share	22,762,098	22,655,821
Effect of dilutive securities	72,716	87,116
Denominator for diluted earnings per common share	22,834,814	22,742,937
Antidilutive securities excluded from the calculation of diluted earnings per share (in shares)	14,130	63,949