Astec Industries (ASTE) 10-Q 11 May 20 2020 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2020	May 02, 2020
Cover [Abstract]
Entity Registrant Name	ASTEC INDUSTRIES, INC.
Entity Central Index Key	0000792987
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		22,585,814
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	001-11595
Entity Tax Identification Number	62-0873631
Entity Incorporation, State or Country Code	TN
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

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (unaudited) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 43,854	$ 48,857
Investments	2,056	1,547
Trade receivables and contract assets, net	136,710	120,271
Other receivables	4,246	4,576
Inventories	294,848	294,536
Prepaid and refundable income taxes	34,025	15,234
Assets held for sale	2,771	3,084
Prepaid expenses and other assets	15,672	18,199
Total current assets	534,182	506,304
Property and equipment, net	185,315	190,363
Investments	15,352	16,104
Goodwill	30,670	33,176
Intangible assets, net	22,342	23,536
Deferred income tax assets	11,118	24,696
Other long-term assets	5,941	6,319
Total assets	804,920	800,498
Current liabilities:
Current maturities of long-term debt	174	209
Short-term debt	504	1,130
Accounts payable	64,130	57,162
Customer deposits	37,720	42,874
Accrued product warranty	10,652	10,261
Accrued payroll and related liabilities	20,159	24,718
Accrued loss reserves	2,450	2,299
Other current liabilities	33,101	34,114
Total current liabilities	168,890	172,767
Long-term debt	493	690
Deferred income tax liabilities	812	896
Other long-term liabilities	22,248	23,658
Total liabilities	192,443	198,011
Shareholders' equity	612,203	601,949
Non-controlling interest	274	538
Total equity	612,477	602,487
Total liabilities and equity	$ 804,920	$ 800,498

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Condensed Consolidated Statements of Income (unaudited) [Abstract]
Net sales	$ 288,848	$ 325,780
Cost of sales	214,827	248,930
Gross profit	74,021	76,850
Selling, general, administrative and engineering expenses	56,167	58,160
Restructuring and asset impairment charges	2,711	512
Income from operations	15,143	18,178
Interest expense	(37)	(648)
Other income, net of expenses	234	468
Income from operations before income taxes	15,340	17,998
Income tax provision (benefit)	(5,143)	3,781
Net income	20,483	14,217
Net loss attributable to non-controlling interest	161	57
Net income attributable to controlling interest	$ 20,644	$ 14,274
Net income attributable to controlling interest:
Basic (in dollars per share)	$ 0.92	$ 0.63
Diluted (in dollars per share)	$ 0.91	$ 0.63
Weighted average number of common shares outstanding:
Basic (in shares)	22,545	22,498
Diluted (in shares)	22,713	22,646
Dividends declared per common share (in dollars per share)	$ 0.11	$ 0.11

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Condensed Consolidated Statements of Comprehensive Income (unaudited) [Abstract]
Net income	$ 20,483	$ 14,217
Other comprehensive income (loss):
Foreign currency translation adjustments	(9,312)	963
Other comprehensive income (loss)	(9,312)	963
Comprehensive income	11,171	15,180
Comprehensive loss attributable to non-controlling interest	263	59
Comprehensive income attributable to controlling interest	$ 11,434	$ 15,239

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Cash flows from operating activities:
Net income	$ 20,483	$ 14,217
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	6,328	6,551
Provision for doubtful accounts	588	56
Provision for warranties	2,732	2,746
Deferred compensation expense (benefit)	(343)	411
Stock-based compensation	1,134	1,038
Deferred income tax provision	13,494	3,931
(Gain) loss on disposition of fixed assets	(694)	251
Asset impairment charges	1,646	0
Distributions to SERP participants	(136)	(312)
Change in operating assets and liabilities:
Sale (purchase) of trading securities, net	(369)	1,044
Trade and other receivables	(16,644)	(3,809)
Inventories	(315)	(10,891)
Prepaid expenses and other assets	2,495	1,156
Accounts payable	7,792	3,970
Accrued and payroll related expenses	(4,559)	(4,966)
Accrued product warranty	(2,129)	(2,643)
Customer deposits	(5,154)	(4,769)
Prepaid, refundable and income taxes payable, net	(18,469)	594
Other	(2,319)	3,412
Net cash provided by operating activities	5,561	11,987
Cash flows from investing activities:
Expenditures for property and equipment	(5,774)	(3,723)
Proceeds from sale of property and equipment	1,912	40
Other	(186)	(91)
Net cash used by investing activities	(4,048)	(3,774)
Cash flows from financing activities:
Payment of dividends	(2,485)	(2,478)
Borrowings under bank loans	0	64,862
Repayments of bank loans	(696)	(68,075)
Sale of Company shares held by SERP	(38)	263
Withholding tax paid upon vesting of restricted stock units	(565)	(160)
Net cash used by financing activities	(3,784)	(5,588)
Effect of exchange rates on cash	(2,732)	160
Net change in cash and cash equivalents	(5,003)	2,785
Cash and cash equivalents, beginning of period	48,857	25,821
Cash and cash equivalents, end of period	$ 43,854	$ 28,606

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Equity (unaudited) - USD ($) shares in Thousands, $ in Thousands	Common Stock [Member]	Additional Paid-in-Capital [Member]	Accumulated Other Comprehensive Loss [Member]	Company Shares Held by SERP [Member]	Retained Earnings [Member]	Non-controlling Interest [Member]	Total
Cumulative impact of No. ASU 2018-02 | ASU 2018-02 [Member]	$ 0	$ 0	$ (721)	$ 0	$ 721	$ 0	$ 0
Balance at Dec. 31, 2018	$ 4,503	120,601	(33,883)	(1,886)	495,245	710	585,290
Balance (in shares) at Dec. 31, 2018	22,513
Net income	$ 0	0	0	0	14,274	(57)	14,217
Other comprehensive income (loss)	0	0	963	0	0	0	963
Dividends declared	0		0	0	(2,481)	0	(2,478)
Dividends declared		3
Stock-based compensation	$ 0	1,177	0	0	0	0	1,177
Stock-based compensation (in shares)	1
RSU vesting	$ 2	(2)	0	0	0	0	0
RSU vesting (in shares)	9
Withholding tax paid upon vesting of RSUs	$ 0	(160)	0	0	0	0	(160)
SERP transactions, net	0	46	0	217	0	0	263
Other	0	0	0	0	0	(6)	(6)
Balance at Mar. 31, 2019	$ 4,505	121,665	(33,641)	(1,669)	507,759	647	599,266
Balance (in shares) at Mar. 31, 2019	22,523
Balance at Dec. 31, 2019	$ 4,510	122,613	(31,803)	(1,714)	508,343	538	602,487
Balance (in shares) at Dec. 31, 2019	22,551
Net income	$ 0	0	0	0	20,644	(161)	20,483
Other comprehensive income (loss)	0	0	(9,210)	0	0	(102)	(9,312)
Dividends declared	0		0	0	(2,485)	0	(2,485)
Dividends declared		0
Stock-based compensation	$ 0	1,908	0	0	0	0	1,908
Stock-based compensation (in shares)	1
RSU vesting	$ 6	(6)	0	0	0	0	0
RSU vesting (in shares)	32
Withholding tax paid upon vesting of RSUs	$ 0	(565)	0	0	0	0	(565)
SERP transactions, net	0	0	0	(38)	0	0	(38)
Other	0	0	0	0	0	(1)	(1)
Balance at Mar. 31, 2020	$ 4,516	$ 123,950	$ (41,013)	$ (1,752)	$ 526,502	$ 274	$ 612,477
Balance (in shares) at Mar. 31, 2020	22,584

Significant Accounting Policies

Significant Accounting Policies	3 Months Ended
	Mar. 31, 2020
Significant Accounting Policies [Abstract]
Significant Accounting Policies	Note 1. Significant Accounting Policies Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) for interim financial information and with the instructions to Form -Q and Article of Regulation S-X promulgated under the Securities Exchange Act of Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. U.S. GAAP requires us to make estimates based on assumptions about current and, for some estimates, future economic and market conditions which affect reported amounts and related disclosures in our financial statements. Although our current estimates contemplate current and expected future conditions, as applicable, it is reasonably possible that actual conditions could differ from our expectations, which could materially affect our results of operations and financial position. In particular, a number of estimates have been and will continue to be affected by the ongoing novel coronavirus pandemic (“COVID-19”). The severity, magnitude and duration, as well as the economic consequences of COVID-19, are uncertain, rapidly changing and difficult to predict. As a result, our accounting estimates and assumptions may change over time in response to COVID-19. 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. Operating results for the -month period ended are not necessarily indicative of the results that may be expected for the year ending December It is suggested that these unaudited condensed consolidated financial statements be read in conjunction with the consolidated financial statements and the notes thereto included in the Astec Industries, Inc. Annual Report on Form -K for the year ended December The unaudited condensed consolidated balance sheet as of December has been derived from the audited consolidated financial statements at that date but does not include all of the information and footnotes required by U.S. GAAP for complete financial statements. Certain reclassifications in amounts previously reported have been made to conform to current presentation. Recent Accounting Pronouncements In June the FASB issued ASU No. - “Financial Instruments – Credit Losses (Topic , Measurement of Credit Losses on Financial Instruments”. The standard changes how credit losses are measured for most financial assets and certain other instruments that currently are not measured through net income. The standard requires an expected loss model for instruments measured at amortized cost as opposed to the current incurred loss approach. In valuing available for sale debt securities, allowances will be required to be recorded, rather than the current approach of reducing the carrying amount, for other than temporary impairments. A cumulative adjustment to retained earnings is to be recorded as of the beginning of the period of adoption to reflect the impact of applying the provisions of the standard. The standard is effective for public companies for periods beginning after December and the Company adopted the new standard as of January As the Company’s credit losses are typically minimal, the adoption of this new standard did not have a material impact on the Company's financial position, results of operations or cash flows and no cumulative adjustment to retained earnings was necessitated. In February the FASB issued ASU No. - “Income Statement – Reporting Comprehensive Income (Topic , Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income”, which permitted companies to reclassify tax effects stranded in accumulated other comprehensive income (“AOCI”) as a result of U.S. tax reform impacting tax rates or other items, such as changing from a worldwide tax system to a territorial system, from AOCI to retained earnings. Other tax effects stranded in AOCI due to other reasons, such as prior changes in tax laws or changes in valuation allowances, could not be reclassified. The new standard was effective for fiscal years beginning after December and the Company adopted its provisions as of January As a result of adopting this new standard, the Company reclassified of previously stranded tax effects from accumulated other comprehensive loss to retained earnings as shown on the accompanying unaudited condensed consolidated statement of equity for the months ended In August the FASB issued ASU No. - “Fair Value Measurement (Topic : Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement” which aims to improve the overall usefulness of disclosures to financial statement users and reduce unnecessary costs to companies when preparing fair value measurement disclosures. The standard is effective for annual and interim periods beginning after December with early adoption permitted. The Company adopted this new standard effective January The adoption of this new standard did not have a material impact on its financial position, results of operations, cash flows or disclosures. In December 2019, the FASB issued ASU 2019-12, “Income Taxes (Topic 740), Simplifying the Accounting for Income Taxes”, which eliminates certain exceptions related to the approach for intra-period tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. The new guidance also simplifies aspects of the accounting for franchise taxes and enacted changes in tax laws or rates and clarifies the accounting for transactions that result in a step-up in the tax basis of goodwill. The new standard is effective for fiscal years beginning after December 15, 2020 and interim periods within those fiscal years with early adoption permitted in interim or annual periods if the Company has not yet issued financial statements. If the Company elects to early adopt the amendments in an interim period, it should reflect any adjustments as of the beginning of the annual period that includes the interim period and must adopt all amendments in the same period applying all guidance prospectively, except for certain amendments. The Company has not determined the impact of the statement’s provision on its financial position, results of operations or cash flows.

Earnings per Share

Earnings per Share	3 Months Ended
	Mar. 31, 2020
Earnings per Share [Abstract]
Earnings per Share	Note 2. Earnings per Share Basic earnings per share are determined by dividing earnings by the weighted average number of common shares outstanding during each period. Diluted earnings per share include the potential dilutive effect of restricted stock units and shares held in the Company’s Supplemental Executive Retirement Plan. The following table sets forth net income attributable to controlling interest and the number of basic and diluted shares used in the computation of earnings per share: Three Months Ended March 31, 2020 2019 Numerator: Net income attributable to controlling interest $ 20,644 $ 14,274 Denominator: Denominator for basic earnings per share 22,545 22,498 Effect of dilutive securities: Restricted stock units 119 100 Supplemental Executive Retirement Plan 49 48 Denominator for diluted earnings per share 22,713 22,646

Trade Receivables and Contract

Trade Receivables and Contract Assets, net	3 Months Ended
	Mar. 31, 2020
Trade Receivables and Contract Assets, net [Abstract]
Trade Receivables and Contract Assets, net	Note 3. Trade Receivables and Contract Assets, net Trade receivables and contract assets are net of allowances for credit losses of $1,891 and $1,416 as of March 31, 2020 and December 31, 2019, respectively.

Inventories

Inventories	3 Months Ended
	Mar. 31, 2020
Inventories [Abstract]
Inventories	Note 4. Inventories Inventories consist of the following: March 31, 2020 December 31, 2019 Raw materials and parts $ 164,510 $ 160,872 Work-in-process 71,514 61,287 Finished goods 45,493 53,650 Used equipment 13,331 18,727 Total $ 294,848 $ 294,536 Raw materials and parts are comprised of purchased steel and other purchased items for use in the manufacturing process or held for sale for the after-market parts business. The category also includes the manufacturing cost of completed equipment sub-assemblies produced for either integration into equipment manufactured at a later date or for sale in the Company’s after-market parts business. Work-in-process consists of the value of materials, labor and overhead incurred to date in the manufacturing of incomplete equipment or incomplete equipment sub-assemblies being produced. Finished goods consist of completed equipment manufactured for sale to customers. Used equipment consists of equipment accepted in trade or purchased on the open market. The category also includes equipment rented to prospective customers on a short-term or month-to-month basis. Used equipment is valued at the lower of acquired or trade-in cost or net realizable value determined on each separate unit. Each unit of rental equipment is valued at the lower of original manufacturing, acquired or trade-in cost or net realizable value. 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. The net realizable values of the Company’s products are impacted by a number of factors, including changes in the price of steel, competitive sales pricing, quantities of inventories on hand, the age of the individual inventory items, market acceptance of the Company’s products, actions by our competitors, the condition of our used and rental inventory and general economic factors. Once an inventory item’s value has been deemed to be less than cost, a net realizable value adjustment is calculated and a new “cost basis” for that item is effectively established. This new cost is retained for that item until such time as the item is disposed of or the Company determines that an additional write-down is necessary. Additional write-downs may be required in the future based upon changes in assumptions due to general economic downturns in the markets in which the Company operates, changes in competitor pricing, new product design or other technological advances introduced by the Company or its competitors and other factors unique to individual inventory items. The most significant component of the Company’s inventory is steel. A significant decline in the market price of steel could result in a decline in the market value of the Company’s equipment or parts. During periods of significant declining steel prices, the Company reviews the valuation of its inventories to determine if reductions are needed in the recorded value of inventory on hand to its net realizable value. The Company reviews the individual items included in its finished goods, used equipment and rental equipment inventory on a model-by-model or unit-by-unit basis to determine if any item’s net realizable value is below its carrying value. This analysis is expanded to include items in work-in-process and raw material inventory if factors indicate those items may also be impacted. In performing this review, judgments are made and, in addition to the factors discussed above, additional consideration is given to the age of the specific items of used or rental inventory, prior sales offers or lack thereof, the physical condition of the specific items and general market conditions for the specific items. Additionally, an analysis of raw material inventory is performed to calculate reserves needed for obsolete inventory based upon quantities of items on hand, the age of those items and their recent and expected future usage or sale. When the Company determines that the value of inventory has become impaired through damage, deterioration, obsolescence, changes in price levels, excessive levels of inventory or other causes, the Company reduces the carrying value to the net realizable value based on estimates, assumptions and judgments made from the information available at that time. Abnormal amounts of idle facility expense, freight, handling cost and wasted materials are recognized as current period charges.

Property and Equipment

Property and Equipment	3 Months Ended
	Mar. 31, 2020
Property and Equipment [Abstract]
Property and Equipment	Note 5. Property and Equipment Property and equipment is stated at cost, less accumulated depreciation of $266,010 and $267,719 as of March 31, 2020 and December 31, 2019, respectively.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2020
Fair Value Measurements [Abstract]
Fair Value Measurements	Note 6. 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 Company (“Astec Insurance”), the Company’s captive insurance company; marketable equity securities held in an unqualified Supplemental Executive Retirement Plan (“SERP”); and a money market fund held by a foreign subsidiary. The obligations of the Company associated with the financial assets held in the SERP also constitute a liability of the Company for financial reporting purposes and are included in other long-term liabilities in the accompanying unaudited condensed 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. The Company reevaluates the volume of trading activity for each of its investments at the end of each quarter and adjusts the level within the fair value hierarchy as needed. As indicated in the tables below (which excludes the Company’s pension assets), the Company has determined that all of its financial assets and liabilities as of March 31, 2020 and December 31, 2019 are Level 1 and Level 2 in the fair value hierarchy as defined above: March 31, 2020 Level 1 Level 2 Total Financial Assets: Trading equity securities: SERP money market fund $ 227 $ – $ 227 SERP mutual funds 3,612 – 3,612 Preferred stocks 259 – 259 Money market fund 211 – 211 Trading debt securities: Corporate bonds 5,425 – 5,425 Municipal bonds – 1,147 1,147 Floating rate notes 332 – 332 U.S. government securities 2,082 – 2,082 Asset backed securities – 2,548 2,548 Other 201 1,364 1,565 Derivative financial instruments – 466 466 Total financial assets $ 12,349 $ 5,525 $ 17,874 Financial Liabilities: SERP liabilities $ – $ 5,552 $ 5,552 Total financial liabilities $ – $ 5,552 $ 5,552 December 31, 2019 Level 1 Level 2 Total Financial Assets: Trading equity securities: SERP money market fund $ 208 $ – $ 208 SERP mutual funds 4,419 – 4,419 Preferred stocks 282 – 282 Trading debt securities: Corporate bonds 5,117 – 5,117 Municipal bonds – 1,154 1,154 Floating rate notes 535 – 535 U.S. government securities 2,035 – 2,035 Asset backed securities – 2,316 2,316 Other 473 1,112 1,585 Derivative financial instruments – 4 4 Total financial assets $ 13,069 $ 4,586 $ 17,655 Financial Liabilities: Derivative financial instruments $ – $ 49 $ 49 SERP liabilities – 6,645 6,645 Total financial liabilities $ – $ 6,694 $ 6,694 The trading equity securities noted above are valued at their fair value based on their quoted market prices, and the trading debt securities are valued based upon a mix of observable market prices and model driven prices derived from a matrix of observable market prices for assets with similar characteristics obtained with the assistance of a nationally recognized third-party pricing service. Additionally, a significant portion of the SERP’s investments in trading equity securities are in money market and mutual funds. As these money market and mutual funds are held in a SERP, they are also included in the Company’s liability under its SERP. Trading debt securities are comprised of marketable debt securities held by Astec Insurance. Astec Insurance has an investment strategy that focuses on providing regular and predictable interest income from a diversified portfolio of high-quality fixed income securities.

Goodwill

Goodwill	3 Months Ended
	Mar. 31, 2020
Goodwill [Abstract]
Goodwill	Note 7. Goodwill The Company tests goodwill and indefinite-lived intangible assets for impairment during the fourth quarter of each year, or more frequently should circumstances change or events occur that would more likely than not reduce the fair value of a reporting unit below its carrying value. During the first quarter of 2020, the Company’s reporting units producing products for the mobile asphalt equipment industry performed at well below previous expectations. The COVID-19 pandemic will likely have a negative impact on results for the second quarter of 2020 and perhaps for the remainder of 2020 and longer. As of the most recent annual goodwill impairment testing date (October 31, 2019), the Company’s testing indicated that the business enterprise value for the mobile asphalt equipment reporting unit exceeded its carrying value by approximately 22%. Sensitivity analysis performed on uncertain assumptions included in the testing in 2019 further reduced the excess of fair value over the reporting unit’s carrying value, but still indicated its goodwill was not impaired. As a result, in the first quarter of 2020 as part of the Company’s ongoing assessment to consider whether events or circumstances had occurred that could more likely than not reduce the fair value of a reporting unit below its carrying value, the Company performed an interim goodwill impairment test as of March 31, 2020 over the mobile asphalt equipment reporting unit. Based on the results of this testing, the Company recorded a $1,646 pre-tax non-cash impairment charge (in the Infrastructure Solutions segment) to fully impair the mobile asphalt equipment reporting unit’s goodwill in the first quarter of 2020. This charge was included along with other restructuring and asset impairment charges in the accompanying unaudited condensed statement of income for three months ended March 31, 2020. After evaluating and weighing all relevant events and circumstances, and considering the substantial excess fair values for the other reporting units, we concluded that it is not more likely than not that the fair values of these reporting units were less than their carrying values. Consequently, we determined that it was not necessary to perform an interim impairment test for the other reporting units. The only other change to goodwill from values reported as of December 31, 2019 was the impact of foreign exchange rate changes on certain goodwill in the Materials Solutions segment, also referred to herein as the Materials Solutions Group, during the first quarter of 2020.

Debt

Debt	3 Months Ended
	Mar. 31, 2020
Debt [Abstract]
Debt	Note 8. Debt In February 2019, the Company and certain of its subsidiaries entered into an amended and restated credit agreement whereby the lender extended to the Company an unsecured line of credit of up to $150,000, including a sub-limit for letters of credit of up to $30,000 and extended the maturity date to December 29, 2023. Other significant terms were left unchanged. There were no borrowings outstanding under the agreement as of March 31, 2020, December 31, 2019 or at any time during the three months ended March 31, 2020. Letters of credit totaling $7,877, including $3,200 of letters of credit issued to banks in Brazil to secure the local debt of Astec do Brasil Fabricacao de Equipamentos Ltda. (“Astec Brazil”), were outstanding under the credit facility as of March 31, 2020. Additional borrowing available under the credit facility was $142,123 as of March 31, 2020. Borrowings under the agreement are subject to an interest rate equal to the daily one-month LIBOR rate plus a 0.75% margin, resulting in a rate of 1.74% as of March 31, 2020. The unused facility fee is 0.125%. Interest only payments are due monthly. The amended and restated credit agreement contains certain financial covenants, including provisions concerning required levels of annual net income and minimum tangible net worth. The Company’s South African subsidiary, Osborn Engineered Products SA (Pty) Ltd (“Osborn”), has a credit facility of $5,338 with a South African bank to finance short-term working capital needs, as well as to cover performance letters of credit, advance payment and retention guarantees. As of March 31, 2020, Osborn had no outstanding borrowings but had $883 in performance, advance payment and retention guarantees outstanding under the facility. The facility has been guaranteed by Astec Industries, Inc., but is otherwise unsecured. A 0.75% unused facility fee is charged if less than 50% of the facility is utilized. As of March 31, 2020, Osborn had available credit under the facility of $4,455. The interest rate is 0.25% less than the South Africa prime rate, resulting in a rate of 8.5% as of March 31, 2020. The Company’s Brazilian subsidiary, Astec Brazil, had a $667 and $897 working capital loan outstanding as of March 31, 2020 and December 31, 2019, respectively, from a Brazilian bank with an interest rate of 10.4%. The loan’s final monthly payment is due in April 2024 September 2020

Product Warranty Reserves

Product Warranty Reserves	3 Months Ended
	Mar. 31, 2020
Product Warranty Reserves [Abstract]
Product Warranty Reserves	Note 9. 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, 2020 and 2019 are as follows: Three Months Ended March 31, 2020 2019 Reserve balance, beginning of the period $ 10,261 $ 10,928 Warranty liabilities accrued 2,732 2,746 Warranty liabilities settled (2,129 ) (2,643 ) Other (212 ) 20 Reserve balance, end of the period $ 10,652 $ 11,051

Accrued Loss Reserves

Accrued Loss Reserves	3 Months Ended
	Mar. 31, 2020
Accrued Loss Reserves [Abstract]
Accrued Loss Reserves	Note 10. 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 $6,777 and $6,817 as of March 31, 2020 and December 31, 2019, respectively, of which $4,327 and $4,518 were included in other long-term liabilities in the accompanying unaudited condensed consolidated balance sheets as of March 31, 2020 and December 31, 2019, respectively.

Leases

Leases	3 Months Ended
	Mar. 31, 2020
Leases [Abstract]
Leases	Note 11. Leases The Company leases certain real estate, computer systems, material handling equipment, offices, automobiles and other equipment. The Company determines if a contract is a lease (or contains an embedded lease) at the inception of the agreement. The Company adopted ASU No. 2016-02, Leases, on January 1, 2019 using the effective date method. Upon adoption, right-of-use (“ROU”) assets totaling $4,993 were recorded on the Company’s balance sheet. Incremental borrowing rates used in the calculation of the ROU asset, when not apparent in the lease agreements, were estimated based upon secured borrowing rates quoted by the Company’s banks for loans of various lengths ranging from one Other information concerning the Company’s operating leases accounted for under ASC 842 guidelines and the related expense, assets and liabilities follow: Three Months Ended March 31, 2020 March 31, 2019 Operating lease expense $ 663 $ 601 Cash paid for operating leases included in operating cash flows 697 645 March 31, 2020 December 31, 2019 Operating lease right-of-use asset $ 3,481 $ 3,853 Operating lease short-term liability included in other current liabilities 1,449 1,846 Operating lease long-term liability included in other long-term liabilities 2,025 2,020 Weighted average remaining lease term (in years) 5.13 4.66 Weighted average discount rate used in calculating right-of-use asset 3.72 % 3.56 % Future annual minimum lease payments as of March 31, 2020 are as follows: Amount Remainder of 2020 $ 1,290 2021 731 2022 458 2023 303 2024 200 2025 and thereafter 784 Total 3,766 Less interest (292 ) Present value of lease liabilities $ 3,474

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2020
Income Taxes [Abstract]
Income Taxes	Note 12. Income Taxes The Company's combined effective income tax rates were ( )% and for the three-month periods ended and , respectively. The Company's effective tax rate for both periods includes the effect of state income taxes, benefits for federal and state research and development credits, net benefits for international provisions of US tax reform that became effective in 2018 and various discrete items. Additionally, the tax provision for the three months ended March 31, 2020 includes a $ tax benefit resulting from provisions of the Coronavirus Aid, Relief and Economic Security (“CARES”) Act enacted on March 27, 2020. Among other provisions, the CARES Act modified the net operating loss (“NOL”) carryback provisions, which allowed the Company to carryback its 2018 NOL to prior tax years. This change not only favorably impacted the timing of the NOL benefit, but also increased the tax benefit amount as the federal tax rates in the prior years ( ) were higher than the current federal tax rate ( ). The Company's recorded liability for uncertain tax positions as of March 31, 2020 increased by $125, as compared to December 31, 2019 due to exposure related to federal and state credits, plus additional taxes and interest on existing reserves.

Revenue Recognition

Revenue Recognition	3 Months Ended
	Mar. 31, 2020
Revenue Recognition [Abstract]
Revenue Recognition	Note 13. Revenue Recognition: The following tables disaggregate our revenue by major source for the three-month periods ended March 31, 2020 and 2019 (excluding intercompany sales): Three Months Ended March 31, 2020 Infrastructure Solutions Materials Solutions Total Net Sales-Domestic: Equipment sales $ 100,419 $ 41,297 $ 141,716 Parts and component sales 52,641 18,476 71,117 Service and equipment installation revenue 6,762 427 7,189 Used equipment sales 7,160 – 7,160 Freight revenue 6,048 1,309 7,357 Other (185 ) (472 ) (657 ) Total domestic revenue 172,845 61,037 233,882 Net Sales-International: Equipment sales 19,424 14,440 33,864 Parts and component sales 8,334 9,257 17,591 Service and equipment installation revenue 842 220 1,062 Used equipment sales 606 746 1,352 Freight revenue 566 343 909 Other 1 187 188 Total international revenue 29,773 25,193 54,966 Total net sales $ 202,618 $ 86,230 $ 288,848 Three Months Ended March 31, 2019 Infrastructure Solutions Materials Solutions Total Net Sales-Domestic: Equipment sales $ 119,095 $ 55,204 $ 174,299 Parts and component sales 54,499 19,159 73,658 Service and equipment installation revenue 4,774 625 5,399 Used equipment sales 2,763 413 3,176 Freight revenue 5,400 1,595 6,995 Other 583 (1,281 ) (698 ) Total domestic revenue 187,114 75,715 262,829 Net Sales-International: Equipment sales 21,414 19,049 40,463 Parts and component sales 8,765 10,178 18,943 Service and equipment installation revenue 1,397 391 1,788 Used equipment sales 110 466 576 Freight revenue 423 668 1,091 Other 26 64 90 Total international revenue 32,135 30,816 62,951 Total net sales $ 219,249 $ 106,531 $ 325,780 Sales into major geographic regions were as follows: Three Months Ended March 31, 2020 2019 United States $ 233,882 $ 262,829 Canada 14,664 22,993 Australia 5,795 8,813 Africa 6,631 7,091 South America 8,796 7,054 Europe 9,375 6,490 Central America 1,390 3,549 China, Japan & Korea 2,270 2,140 Asia (excl. China, Japan & Korea) 435 2,131 West Indies 4,756 1,378 Middle East 849 851 Other 5 461 Total foreign 54,966 62,951 Total consolidated sales $ 288,848 $ 325,780 Revenue is generally recognized when obligations under the terms of a contract are satisfied and generally occurs with the transfer of control of the product or services at a point in time. Revenue is measured as the amount of consideration the Company expects to receive in exchange for transferring goods or providing services. The Company generally obtains purchase authorizations from its customers for a specified amount of products at a specified price with specific delivery terms. A significant portion of the Company’s equipment sales represents equipment produced in the Company’s manufacturing facilities under short-term contracts for a customer’s project or equipment designed to meet a customer’s requirements. Most of the equipment sold by the Company is based on standard configurations, some of which are modified to meet customer’s needs or specifications. The Company provides customers with technical design and performance specifications and typically performs pre-shipment testing, when feasible, to ensure the equipment performs according to the customer’s need, regardless of whether the Company provides installation services in addition to selling the equipment. Significant down payments are required on many equipment orders with other terms allowing for payment shortly after shipment, typically 30 days. Taxes assessed by a governmental authority that are directly imposed on revenue-producing transactions between the Company and its customers, such as sales, use, value-added and some excise taxes, are excluded from revenue. Expected warranty costs for our standard warranties are expensed at the time the related revenue is recognized. Costs of obtaining sales contracts with an expected duration of one year or less are expensed as incurred. As contracts are typically fulfilled within one year from the date of the contract, revenue adjustments for a potential financing component or the costs to obtain the contract are not made. Depending on the terms of the arrangement with the customer, recognition of a portion of the consideration received may be deferred and recorded as a contract liability if we have to satisfy a future obligation, such as to provide installation assistance, service work to be performed in the future without charge, floor plan interest to be reimbursed to our dealer customers, payments for extended warranties, for annual rebates given to certain high volume customers or for obligations for future estimated returns to be allowed based upon historical trends. Certain contracts include terms and conditions pursuant to which the Company recognizes revenues upon the completion of production, and the equipment is subsequently stored at the Company’s plant at the customer’s request. Revenue is recorded on such contracts upon the customer’s assumption of title and risk of ownership, which transfers control of the equipment, and when collectability is reasonably assured. In addition, there must be a fixed schedule of delivery of the goods consistent with the customer’s business practices, the Company must not have retained any specific performance obligations such that the earnings process is not complete and the goods must have been segregated from the Company’s inventory prior to revenue recognition. Service and Equipment Installation Revenue – Purchasers of certain of the Company’s equipment often contract with the Company to provide installation services. Installation is typically separately priced in the contract based upon observable market prices for stand-alone performance obligations or a cost plus margin approach when one is not available. The Company may also provide future services on equipment sold at the customer’s request, which may be for equipment repairs after the warranty period expires. Service is billed on a cost plus margin approach or at a standard rate per hour. Used Equipment Sales – Used equipment is obtained by trade-in on new equipment sales, as a separate purchase in the open market or from the Company’s equipment rental business. Revenues from the sale of used equipment are recognized upon transfer of control to the customer at agreed upon pricing. Freight Revenue – Under a practical expedient allowed under ASU No. 2014-09, the Company records revenues earned for shipping and handling as revenue at the time of shipment, regardless of whether or not it is identified as a separate performance obligation. The cost of shipping and handling is classified as cost of goods sold concurrently. Other Revenues – Miscellaneous revenues and offsets not associated with one of the above classifications primarily include rental revenues, extended warranty revenues, early pay discounts and floor plan interest reimbursements.

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2020
Segment Information [Abstract]
Segment Information	Note 14. Segment Information During the first quarter of 2020, the Company completed an internal reorganization of its reportable segments from three to two reportable segments (plus Corporate) and such segments are organized, operated and managed based on the products and services offered by the business units included in each segment. Amounts previously reported under the previous segment structure have been restated to conform to the new segment structure. The Company did not see a significant impact to sales and profit results by reporting segments in the first quarter of 2020 as a result of COVID-19. However, the Company expects that its results of operations in the second quarter of 2020 may reflect an increase in the severity of the impact of the effects of COVID-19, as well as negative impacts to subsequent periods. The Company continues to monitor the effects of COVID-19 on its reported sales and profit and has taken steps to ensure employee and visitor safety, adequate liquidity and business continuity during this pandemic. A brief description of each of the Company’s segments is as follows: Infrastructure Solutions In 2018, the Company decided to close and cease operations at AMM, located in Germany, and its land and buildings were sold in January 2020. In late 2019, the Company announced the closing of its Albuquerque site due to market conditions and underutilization of the manufacturing facility. Responsibilities for manufacturing and marketing of Albuquerque product lines were transferred to other Company facilities within the Infrastructure Solutions segment in late 2019 and early 2020. The Albuquerque site was closed as of March 31, 2020 and its land and buildings are currently accounted for as held for sale. In late 2019, the Company impaired and discontinued Enid’s oil and gas product lines and is in the process of disposing of the related oil and gas inventory. The Company is also currently marketing its Enid production facilities and remaining water well line of business for sale. Materials Solutions Corporate The accounting policies of the reportable segments are the same as those described in the summary of significant accounting policies. Intersegment sales and transfers are valued at prices comparable to those for unrelated parties. Segment Information: Three Months Ended March 31, 2020 Infrastructure Solutions Materials Solutions Corporate Total Net sales to external customers $ 202,618 $ 86,230 $ – $ 288,848 Intersegment sales 5,941 8,274 – 14,215 Gross profit 52,923 21,005 93 74,021 Gross profit percent 26.1 % 24.4 % 0.0 % 25.6 % Segment profit (loss) $ 17,220 $ 6,035 $ (2,923 ) $ 20,332 Three Months Ended March 31, 2019 Infrastructure Solutions Materials Solutions Corporate Total Net sales to external customers $ 219,249 $ 106,531 $ – $ 325,780 Intersegment sales 9,092 4,757 – 13,849 Gross profit (loss) 51,309 25,545 (4 ) 76,850 Gross profit percent 23.4 % 24.0 % 0.0 % 23.6 % Segment profit (loss) $ 18,070 $ 8,678 $ (12,908 ) $ 13,840 A reconciliation of total segment profit to the Company’s consolidated totals is as follows: Three Months Ended March 31, 2020 2019 Total profit shown above $ 20,332 $ 13,840 Recapture of intersegment profit 151 377 Net income 20,483 14,217 Net loss attributable to non-controlling interest in subsidiaries 161 57 Net income attributable to controlling interest $ 20,644 $ 14,274

Contingent Matters

Contingent Matters	3 Months Ended
	Mar. 31, 2020
Contingent Matters [Abstract]
Contingent Matters	Note 15. Contingent Matters Certain customers have financed purchases of Company products through arrangements in which the Company is contingently liable for customer debt of $1,828 and $1,466 at March 31, 2020 and December 31, 2019, respectively. These arrangements expire at various dates through December 2023 In addition, the Company is contingently liable under letters of credit issued by a domestic lender totaling $7,877 as of March 31, 2020, including $3,200 of letters of credit guaranteeing certain Astec Brazil bank debt. The outstanding letters of credit expire at various dates through April 2021 The Company and certain of its current and former executive officers have been 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-00024-PLR-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 are control person under Section 20(a) of the Exchange Act. The complaint was filed on behalf of shareholders who purchased shares of the Company’s stock between July 26, 2016 and October 22, 2018 and seeks monetary damages on behalf of the purported class. The Company disputes these allegations and intends to defend this lawsuit vigorously and filed a motion to dismiss the lawsuit on October 25, 2019. The Company is unable to determine whether or not a future loss will be incurred due to this litigation, or estimate a range of loss, if any, at this time. The Company's G The Company is currently a party to various claims and legal proceedings that have arisen in the ordinary course of 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 possible 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.

Shareholders' Equity

Shareholders' Equity	3 Months Ended
	Mar. 31, 2020
Shareholders' Equity [Abstract]
Shareholders' Equity	Note 16. Shareholders’ Equity Under the Company’s long-term incentive plans, key members of management may be issued restricted stock units (“RSUs”) each year based upon the financial performance of the Company and its subsidiaries. The number of RSUs granted to employees each year is determined based upon the performance of individual subsidiaries and consolidated financial performance. Generally, for RSUs granted through 2016, each award will vest at the end of five years from the date of grant, or at the time a recipient retires after reaching age 65, if earlier. Awards granted in 2017 and 2018 will vest at the end of three years from the date of grant or at the time a recipient retires after reaching age 65, if earlier. Awards granted in 2019 and thereafter will vest ratably, at the end of each year from the date of grant, over a three-year Fifty percent fifty percent A total of 47 and 13 RSUs vested during the three-month periods ended March 31, 2020 and 2019, respectively. The Company withheld 15 and 4 shares due to statutory payroll tax withholding requirements upon the vesting of the RSUs during each of the first three-month periods in 2020 and 2019, respectively, and used Company funds to remit the related required minimum withholding taxes to the various tax authorities. The vesting date fair value of the RSUs that vested during the first three months of 2020 and 2019 was $1,804 and $509, respectively. The grant date fair value of the RSUs granted based upon past performance during the first three months of 2020 and 2019 was $3,176 and $1,448, respectively. The grant date fair value of RSUs and PSUs granted in the first three months of 2020 based upon targeted future performance was $5,688. Compensation expense of $933 and $887 was recorded in the three-month periods ended March 31, 2020 and 2019, respectively, to reflect the fair value of RSUs granted to employees amortized over the portion of the vesting period occurring during the periods.

Other Income, Net of Expenses

Other Income, Net of Expenses	3 Months Ended
	Mar. 31, 2020
Other Income, Net of Expenses [Abstract]
Other Income, Net of Expenses	Note 17. Other Income, Net of Expenses Other income, net of expenses for the three-month periods ended March 31, 2020 and 2019 is presented below: Three Months Ended March 31, 2020 2019 Interest income $ 220 $ 275 Gain (loss) on investments (65 ) 149 Other 79 44 Total $ 234 $ 468

Derivative Financial Instrument

Derivative Financial Instruments	3 Months Ended
	Mar. 31, 2020
Derivative Financial Instruments [Abstract]
Derivative Financial Instruments	Note 18. Derivative Financial Instruments The Company is exposed to certain risks related to its ongoing business operations. The primary risk managed by using derivative instruments is foreign currency risk. From time to time, the Company’s foreign subsidiaries enter into foreign currency exchange contracts to mitigate exposure to fluctuations in currency exchange rates. The fair value of the derivative financial instruments is recorded on the Company’s unaudited condensed consolidated balance sheets and is adjusted to fair value at each measurement date. The changes in fair value are recognized in the accompanying unaudited condensed consolidated statements of income in the current period. The Company does not engage in speculative transactions nor does it hold or issue financial instruments for trading purposes. The average U.S. dollar equivalent notional amount of outstanding foreign currency exchange contracts was $ during the -month period ended . The Company reported $ and $ The Company recognized, as a component of cost of sales, a net gain of $ and a net loss of $ on the changes in fair value of derivative financial instruments in the three-month periods ended and , respectively. There were no derivatives that were designated as hedges at .

Restructuring and Asset Impairm

Restructuring and Asset Impairment Charges	3 Months Ended
	Mar. 31, 2020
Restructuring and Asset Impairment Charges [Abstract]
Restructuring and Asset Impairment Charges	Note 19. Restructuring and Asset Impairment Charges During the first three months of 2020, the Company incurred $2,711 of restructuring and asset impairment charges comprised of goodwill impairment charges of $1,646 due to a 100% impairment of goodwill related to its mobile asphalt equipment operations included in the Infrastructure Solutions segment; $344 of costs associated with the closing of its Albuquerque site and moving its operations to other Company locations; $251 of severance pay associated with exiting the oil and gas line of business at its Enid site; and $470 of severance pay associated with work force reductions at other locations. Restructuring charges accrued, but not paid, as of March 31, 2020 was $663. Restructuring costs accrued, but not paid as of December 31, 2019 were not significant. The Company is in the final stage of completing its closing of its AMM operations in Germany which began in late 2018 and the site’s real estate was sold in early 2020. Related restructuring charges totaling $512 were incurred in the first three months of 2019.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2020
Significant Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) for interim financial information and with the instructions to Form -Q and Article of Regulation S-X promulgated under the Securities Exchange Act of Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. U.S. GAAP requires us to make estimates based on assumptions about current and, for some estimates, future economic and market conditions which affect reported amounts and related disclosures in our financial statements. Although our current estimates contemplate current and expected future conditions, as applicable, it is reasonably possible that actual conditions could differ from our expectations, which could materially affect our results of operations and financial position. In particular, a number of estimates have been and will continue to be affected by the ongoing novel coronavirus pandemic (“COVID-19”). The severity, magnitude and duration, as well as the economic consequences of COVID-19, are uncertain, rapidly changing and difficult to predict. As a result, our accounting estimates and assumptions may change over time in response to COVID-19. 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. Operating results for the -month period ended are not necessarily indicative of the results that may be expected for the year ending December It is suggested that these unaudited condensed consolidated financial statements be read in conjunction with the consolidated financial statements and the notes thereto included in the Astec Industries, Inc. Annual Report on Form -K for the year ended December The unaudited condensed consolidated balance sheet as of December has been derived from the audited consolidated financial statements at that date but does not include all of the information and footnotes required by U.S. GAAP for complete financial statements. Certain reclassifications in amounts previously reported have been made to conform to current presentation.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In June the FASB issued ASU No. - “Financial Instruments – Credit Losses (Topic , Measurement of Credit Losses on Financial Instruments”. The standard changes how credit losses are measured for most financial assets and certain other instruments that currently are not measured through net income. The standard requires an expected loss model for instruments measured at amortized cost as opposed to the current incurred loss approach. In valuing available for sale debt securities, allowances will be required to be recorded, rather than the current approach of reducing the carrying amount, for other than temporary impairments. A cumulative adjustment to retained earnings is to be recorded as of the beginning of the period of adoption to reflect the impact of applying the provisions of the standard. The standard is effective for public companies for periods beginning after December and the Company adopted the new standard as of January As the Company’s credit losses are typically minimal, the adoption of this new standard did not have a material impact on the Company's financial position, results of operations or cash flows and no cumulative adjustment to retained earnings was necessitated. In February the FASB issued ASU No. - “Income Statement – Reporting Comprehensive Income (Topic , Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income”, which permitted companies to reclassify tax effects stranded in accumulated other comprehensive income (“AOCI”) as a result of U.S. tax reform impacting tax rates or other items, such as changing from a worldwide tax system to a territorial system, from AOCI to retained earnings. Other tax effects stranded in AOCI due to other reasons, such as prior changes in tax laws or changes in valuation allowances, could not be reclassified. The new standard was effective for fiscal years beginning after December and the Company adopted its provisions as of January As a result of adopting this new standard, the Company reclassified of previously stranded tax effects from accumulated other comprehensive loss to retained earnings as shown on the accompanying unaudited condensed consolidated statement of equity for the months ended In August the FASB issued ASU No. - “Fair Value Measurement (Topic : Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement” which aims to improve the overall usefulness of disclosures to financial statement users and reduce unnecessary costs to companies when preparing fair value measurement disclosures. The standard is effective for annual and interim periods beginning after December with early adoption permitted. The Company adopted this new standard effective January The adoption of this new standard did not have a material impact on its financial position, results of operations, cash flows or disclosures. In December 2019, the FASB issued ASU 2019-12, “Income Taxes (Topic 740), Simplifying the Accounting for Income Taxes”, which eliminates certain exceptions related to the approach for intra-period tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. The new guidance also simplifies aspects of the accounting for franchise taxes and enacted changes in tax laws or rates and clarifies the accounting for transactions that result in a step-up in the tax basis of goodwill. The new standard is effective for fiscal years beginning after December 15, 2020 and interim periods within those fiscal years with early adoption permitted in interim or annual periods if the Company has not yet issued financial statements. If the Company elects to early adopt the amendments in an interim period, it should reflect any adjustments as of the beginning of the annual period that includes the interim period and must adopt all amendments in the same period applying all guidance prospectively, except for certain amendments. The Company has not determined the impact of the statement’s provision on its financial position, results of operations or cash flows.

Earnings per Share (Tables)

Earnings per Share (Tables)	3 Months Ended
	Mar. 31, 2020
Earnings per Share [Abstract]
Computation of Earnings Per Share	The following table sets forth net income attributable to controlling interest and the number of basic and diluted shares used in the computation of earnings per share: Three Months Ended March 31, 2020 2019 Numerator: Net income attributable to controlling interest $ 20,644 $ 14,274 Denominator: Denominator for basic earnings per share 22,545 22,498 Effect of dilutive securities: Restricted stock units 119 100 Supplemental Executive Retirement Plan 49 48 Denominator for diluted earnings per share 22,713 22,646

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2020
Inventories [Abstract]
Inventories	Inventories consist of the following: March 31, 2020 December 31, 2019 Raw materials and parts $ 164,510 $ 160,872 Work-in-process 71,514 61,287 Finished goods 45,493 53,650 Used equipment 13,331 18,727 Total $ 294,848 $ 294,536

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2020
Fair Value Measurements [Abstract]
Financial Assets and Liabilities, at Fair Value	The Company reevaluates the volume of trading activity for each of its investments at the end of each quarter and adjusts the level within the fair value hierarchy as needed. As indicated in the tables below (which excludes the Company’s pension assets), the Company has determined that all of its financial assets and liabilities as of March 31, 2020 and December 31, 2019 are Level 1 and Level 2 in the fair value hierarchy as defined above: March 31, 2020 Level 1 Level 2 Total Financial Assets: Trading equity securities: SERP money market fund $ 227 $ – $ 227 SERP mutual funds 3,612 – 3,612 Preferred stocks 259 – 259 Money market fund 211 – 211 Trading debt securities: Corporate bonds 5,425 – 5,425 Municipal bonds – 1,147 1,147 Floating rate notes 332 – 332 U.S. government securities 2,082 – 2,082 Asset backed securities – 2,548 2,548 Other 201 1,364 1,565 Derivative financial instruments – 466 466 Total financial assets $ 12,349 $ 5,525 $ 17,874 Financial Liabilities: SERP liabilities $ – $ 5,552 $ 5,552 Total financial liabilities $ – $ 5,552 $ 5,552 December 31, 2019 Level 1 Level 2 Total Financial Assets: Trading equity securities: SERP money market fund $ 208 $ – $ 208 SERP mutual funds 4,419 – 4,419 Preferred stocks 282 – 282 Trading debt securities: Corporate bonds 5,117 – 5,117 Municipal bonds – 1,154 1,154 Floating rate notes 535 – 535 U.S. government securities 2,035 – 2,035 Asset backed securities – 2,316 2,316 Other 473 1,112 1,585 Derivative financial instruments – 4 4 Total financial assets $ 13,069 $ 4,586 $ 17,655 Financial Liabilities: Derivative financial instruments $ – $ 49 $ 49 SERP liabilities – 6,645 6,645 Total financial liabilities $ – $ 6,694 $ 6,694

Product Warranty Reserves (Tabl

Product Warranty Reserves (Tables)	3 Months Ended
	Mar. 31, 2020
Product Warranty Reserves [Abstract]
Product Warranty Liability	Changes in the Company’s product warranty liability for the three-month periods ended March 31, 2020 and 2019 are as follows: Three Months Ended March 31, 2020 2019 Reserve balance, beginning of the period $ 10,261 $ 10,928 Warranty liabilities accrued 2,732 2,746 Warranty liabilities settled (2,129 ) (2,643 ) Other (212 ) 20 Reserve balance, end of the period $ 10,652 $ 11,051

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2020
Leases [Abstract]
Operating Leases and Related Expense	Other information concerning the Company’s operating leases accounted for under ASC 842 guidelines and the related expense, assets and liabilities follow: Three Months Ended March 31, 2020 March 31, 2019 Operating lease expense $ 663 $ 601 Cash paid for operating leases included in operating cash flows 697 645
Assets and Liabilities	March 31, 2020 December 31, 2019 Operating lease right-of-use asset $ 3,481 $ 3,853 Operating lease short-term liability included in other current liabilities 1,449 1,846 Operating lease long-term liability included in other long-term liabilities 2,025 2,020 Weighted average remaining lease term (in years) 5.13 4.66 Weighted average discount rate used in calculating right-of-use asset 3.72 % 3.56 %
Future Annual Minimum Lease Payments	Future annual minimum lease payments as of March 31, 2020 are as follows: Amount Remainder of 2020 $ 1,290 2021 731 2022 458 2023 303 2024 200 2025 and thereafter 784 Total 3,766 Less interest (292 ) Present value of lease liabilities $ 3,474

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Mar. 31, 2020
Revenue Recognition [Abstract]
Disaggregation of Revenue	The following tables disaggregate our revenue by major source for the three-month periods ended March 31, 2020 and 2019 (excluding intercompany sales): Three Months Ended March 31, 2020 Infrastructure Solutions Materials Solutions Total Net Sales-Domestic: Equipment sales $ 100,419 $ 41,297 $ 141,716 Parts and component sales 52,641 18,476 71,117 Service and equipment installation revenue 6,762 427 7,189 Used equipment sales 7,160 – 7,160 Freight revenue 6,048 1,309 7,357 Other (185 ) (472 ) (657 ) Total domestic revenue 172,845 61,037 233,882 Net Sales-International: Equipment sales 19,424 14,440 33,864 Parts and component sales 8,334 9,257 17,591 Service and equipment installation revenue 842 220 1,062 Used equipment sales 606 746 1,352 Freight revenue 566 343 909 Other 1 187 188 Total international revenue 29,773 25,193 54,966 Total net sales $ 202,618 $ 86,230 $ 288,848 Three Months Ended March 31, 2019 Infrastructure Solutions Materials Solutions Total Net Sales-Domestic: Equipment sales $ 119,095 $ 55,204 $ 174,299 Parts and component sales 54,499 19,159 73,658 Service and equipment installation revenue 4,774 625 5,399 Used equipment sales 2,763 413 3,176 Freight revenue 5,400 1,595 6,995 Other 583 (1,281 ) (698 ) Total domestic revenue 187,114 75,715 262,829 Net Sales-International: Equipment sales 21,414 19,049 40,463 Parts and component sales 8,765 10,178 18,943 Service and equipment installation revenue 1,397 391 1,788 Used equipment sales 110 466 576 Freight revenue 423 668 1,091 Other 26 64 90 Total international revenue 32,135 30,816 62,951 Total net sales $ 219,249 $ 106,531 $ 325,780
Sales into Major Geographic Regions	Sales into major geographic regions were as follows: Three Months Ended March 31, 2020 2019 United States $ 233,882 $ 262,829 Canada 14,664 22,993 Australia 5,795 8,813 Africa 6,631 7,091 South America 8,796 7,054 Europe 9,375 6,490 Central America 1,390 3,549 China, Japan & Korea 2,270 2,140 Asia (excl. China, Japan & Korea) 435 2,131 West Indies 4,756 1,378 Middle East 849 851 Other 5 461 Total foreign 54,966 62,951 Total consolidated sales $ 288,848 $ 325,780

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2020
Segment Information [Abstract]
Segment Information	The accounting policies of the reportable segments are the same as those described in the summary of significant accounting policies. Intersegment sales and transfers are valued at prices comparable to those for unrelated parties. Segment Information: Three Months Ended March 31, 2020 Infrastructure Solutions Materials Solutions Corporate Total Net sales to external customers $ 202,618 $ 86,230 $ – $ 288,848 Intersegment sales 5,941 8,274 – 14,215 Gross profit 52,923 21,005 93 74,021 Gross profit percent 26.1 % 24.4 % 0.0 % 25.6 % Segment profit (loss) $ 17,220 $ 6,035 $ (2,923 ) $ 20,332 Three Months Ended March 31, 2019 Infrastructure Solutions Materials Solutions Corporate Total Net sales to external customers $ 219,249 $ 106,531 $ – $ 325,780 Intersegment sales 9,092 4,757 – 13,849 Gross profit (loss) 51,309 25,545 (4 ) 76,850 Gross profit percent 23.4 % 24.0 % 0.0 % 23.6 % Segment profit (loss) $ 18,070 $ 8,678 $ (12,908 ) $ 13,840
Segment Profit (Loss) to the Company's Consolidated Totals	A reconciliation of total segment profit to the Company’s consolidated totals is as follows: Three Months Ended March 31, 2020 2019 Total profit shown above $ 20,332 $ 13,840 Recapture of intersegment profit 151 377 Net income 20,483 14,217 Net loss attributable to non-controlling interest in subsidiaries 161 57 Net income attributable to controlling interest $ 20,644 $ 14,274

Other Income, Net of Expenses (

Other Income, Net of Expenses (Tables)	3 Months Ended
	Mar. 31, 2020
Other Income, Net of Expenses [Abstract]
Other Income, Net of Expenses	Other income, net of expenses for the three-month periods ended March 31, 2020 and 2019 is presented below: Three Months Ended March 31, 2020 2019 Interest income $ 220 $ 275 Gain (loss) on investments (65 ) 149 Other 79 44 Total $ 234 $ 468

Significant Accounting Polici_3

Significant Accounting Policies (Details) - ASU 2018-02 [Member] $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)
Accumulated Other Comprehensive Loss [Member]
Recent Accounting Pronouncements [Abstract]
Reclassification of stranded tax effects related to TCJA	$ (721)
Retained Earnings [Member]
Recent Accounting Pronouncements [Abstract]
Reclassification of stranded tax effects related to TCJA	$ 721

Earnings per Share (Details)

Earnings per Share (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Numerator [Abstract]
Net income attributable to controlling interest	$ 20,644	$ 14,274
Denominator [Abstract]
Denominator for basic earnings per share (in shares)	22,545	22,498
Effect of dilutive securities [Abstract]
Restricted stock units (in shares)	119	100
Supplemental Executive Retirement Plan (in shares)	49	48
Denominator for diluted earnings per share (in shares)	22,713	22,646

Trade Receivables and Contrac_2

Trade Receivables and Contract Assets, net (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Trade Receivables and Contract Assets, net [Abstract]
Allowances for credit losses	$ 1,891	$ 1,416

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Inventories [Abstract]
Raw materials and parts	$ 164,510	$ 160,872
Work-in-process	71,514	61,287
Finished goods	45,493	53,650
Used equipment	13,331	18,727
Total	$ 294,848	$ 294,536

Property and Equipment (Details

Property and Equipment (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Property and Equipment [Abstract]
Accumulated depreciation	$ 266,010	$ 267,719

Fair Value Measurements (Detail

Fair Value Measurements (Details) - Measured at Fair Value on a Recurring Basis [Member] - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Financial Assets [Abstract]
Derivative financial instruments	$ 466	$ 4
Total financial assets	17,874	17,655
Financial Liabilities [Abstract]
Derivative financial instruments		49
SERP liabilities	5,552	6,645
Total financial liabilities	5,552	6,694
Corporate Bonds [Member]
Financial Assets [Abstract]
Trading debt securities	5,425	5,117
Municipal Bonds [Member]
Financial Assets [Abstract]
Trading debt securities	1,147	1,154
Floating Rate Notes [Member]
Financial Assets [Abstract]
Trading debt securities	332	535
U.S. Government Securities [Member]
Financial Assets [Abstract]
Trading debt securities	2,082	2,035
Asset Backed Securities [Member]
Financial Assets [Abstract]
Trading debt securities	2,548	2,316
Other [Member]
Financial Assets [Abstract]
Trading debt securities	1,565	1,585
Preferred Stocks [Member]
Financial Assets [Abstract]
Trading equity securities	259	282
Money Market Fund [Member]
Financial Assets [Abstract]
Trading equity securities	211
Supplemental Employee Retirement Plan [Member] | Money Market Fund [Member]
Financial Assets [Abstract]
Trading equity securities	227	208
Supplemental Employee Retirement Plan [Member] | Mutual Funds [Member]
Financial Assets [Abstract]
Trading equity securities	3,612	4,419
Level 1 [Member]
Financial Assets [Abstract]
Derivative financial instruments	0	0
Total financial assets	12,349	13,069
Financial Liabilities [Abstract]
Derivative financial instruments		0
SERP liabilities	0	0
Total financial liabilities	0	0
Level 1 [Member] | Corporate Bonds [Member]
Financial Assets [Abstract]
Trading debt securities	5,425	5,117
Level 1 [Member] | Municipal Bonds [Member]
Financial Assets [Abstract]
Trading debt securities	0	0
Level 1 [Member] | Floating Rate Notes [Member]
Financial Assets [Abstract]
Trading debt securities	332	535
Level 1 [Member] | U.S. Government Securities [Member]
Financial Assets [Abstract]
Trading debt securities	2,082	2,035
Level 1 [Member] | Asset Backed Securities [Member]
Financial Assets [Abstract]
Trading debt securities	0	0
Level 1 [Member] | Other [Member]
Financial Assets [Abstract]
Trading debt securities	201	473
Level 1 [Member] | Preferred Stocks [Member]
Financial Assets [Abstract]
Trading equity securities	259	282
Level 1 [Member] | Money Market Fund [Member]
Financial Assets [Abstract]
Trading equity securities	211
Level 1 [Member] | Supplemental Employee Retirement Plan [Member] | Money Market Fund [Member]
Financial Assets [Abstract]
Trading equity securities	227	208
Level 1 [Member] | Supplemental Employee Retirement Plan [Member] | Mutual Funds [Member]
Financial Assets [Abstract]
Trading equity securities	3,612	4,419
Level 2 [Member]
Financial Assets [Abstract]
Derivative financial instruments	466	4
Total financial assets	5,525	4,586
Financial Liabilities [Abstract]
Derivative financial instruments		49
SERP liabilities	5,552	6,645
Total financial liabilities	5,552	6,694
Level 2 [Member] | Corporate Bonds [Member]
Financial Assets [Abstract]
Trading debt securities	0	0
Level 2 [Member] | Municipal Bonds [Member]
Financial Assets [Abstract]
Trading debt securities	1,147	1,154
Level 2 [Member] | Floating Rate Notes [Member]
Financial Assets [Abstract]
Trading debt securities	0	0
Level 2 [Member] | U.S. Government Securities [Member]
Financial Assets [Abstract]
Trading debt securities	0	0
Level 2 [Member] | Asset Backed Securities [Member]
Financial Assets [Abstract]
Trading debt securities	2,548	2,316
Level 2 [Member] | Other [Member]
Financial Assets [Abstract]
Trading debt securities	1,364	1,112
Level 2 [Member] | Preferred Stocks [Member]
Financial Assets [Abstract]
Trading equity securities	0	0
Level 2 [Member] | Money Market Fund [Member]
Financial Assets [Abstract]
Trading equity securities	0
Level 2 [Member] | Supplemental Employee Retirement Plan [Member] | Money Market Fund [Member]
Financial Assets [Abstract]
Trading equity securities	0	0
Level 2 [Member] | Supplemental Employee Retirement Plan [Member] | Mutual Funds [Member]
Financial Assets [Abstract]
Trading equity securities	$ 0	$ 0

Goodwill (Details)

Goodwill (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)
Goodwill [Abstract]
Percentage of annual goodwill impairment testing exceeds goodwill carrying value	22.00%
Pre-tax non-cash impairment charge	$ 1,646

Debt (Details)

Debt (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019	Feb. 01, 2019
Debt [Abstract]
Current maturities of long-term debt	$ 174	$ 209
Long-term debt	493	690
Short-term debt	504	1,130
Maximum [Member]
Line of Credit Facility [Abstract]
Amount of letters of credit outstanding	$ 10,198
Astec Brazil [Member]
Debt [Abstract]
Debt instrument, maturity date	Sep. 30, 2020
Short-term debt	$ 504	1,130
Osborn [Member]
Line of Credit Facility [Abstract]
Amount of credit facility	5,338
Borrowings outstanding	$ 0
Interest rate at period end	8.50%
Unused facility fee as a percentage of line of credit	0.75%
Performance bank guarantee, subsidiary obligation to fulfill contracts	$ 883
Under utilized facility resulting in unused facility fee	50.00%
Available credit under the facility	$ 4,455
Differential rate (less than prime rate)	0.25%
Astec Brazil Working Capital Loans [Member]
Debt [Abstract]
Loan amount	$ 667	897
Debt instrument, interest rate	10.40%
Debt instrument, maturity date	Apr. 30, 2024
Astec Brazil Working Capital Loans and Equipment Financing [Member]
Debt [Abstract]
Current maturities of long-term debt	$ 174	209
Long-term debt	$ 493	690
Wells Fargo [Member]
Line of Credit Facility [Abstract]
Maturity date	Dec. 29, 2023
Borrowings outstanding	$ 0	$ 0
Amount of letters of credit outstanding	7,877
Line of credit, additional borrowing capacity	$ 142,123
Interest rate at period end	1.74%
Wells Fargo [Member] | Maximum [Member]
Line of Credit Facility [Abstract]
Amount of credit facility			$ 150,000
Sub-limit for letters of credit			$ 30,000
Wells Fargo [Member] | Astec Brazil [Member]
Line of Credit Facility [Abstract]
Contingent liabilities for letters of credit issued on behalf of foreign subsidiaries	$ 3,200
Wells Fargo [Member] | LIBOR [Member]
Line of Credit Facility [Abstract]
Term of variable rate	1 month
Additional rate over base, percentage	0.75%
Unused facility fee as a percentage of line of credit	0.125%

Product Warranty Reserves (Deta

Product Warranty Reserves (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Product warranty reserves [Roll Forward]
Reserve balance, beginning of the period	$ 10,261	$ 10,928
Warranty liabilities accrued	2,732	2,746
Warranty liabilities settled	(2,129)	(2,643)
Other	(212)	20
Reserve balance, end of the period	$ 10,652	$ 11,051
Minimum [Member]
Standard Product Warranty Disclosure [Abstract]
Product warranty reserve term	three months
Maximum [Member]
Standard Product Warranty Disclosure [Abstract]
Product warranty reserve term	two years

Accrued Loss Reserves (Details)

Accrued Loss Reserves (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Accrued Loss Reserves [Abstract]
Total accrued loss reserves	$ 6,777	$ 6,817
Accrued loss reserves included in other long-term liabilities	$ 4,327	$ 4,518

Leases (Details)

Leases (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019	Dec. 31, 2018
Operating Lease and Related Expense [Abstract]
Operating lease expense	$ 663	$ 601
Cash paid for operating leases included in operating cash flows	697	$ 645
Assets and Liabilities [Abstract]
Operating lease right-of-use asset	3,481		$ 3,853
Operating lease short-term liability included in other current liabilities	1,449		1,846
Operating lease long-term liability included in other long-term liabilities	$ 2,025		$ 2,020
Weighted average remaining lease term (in years)	5 years 1 month 17 days		4 years 7 months 28 days
Weighted average discount rate used in calculating right-of-use asset	3.72%		3.56%
Future Annual Minimum Lease Payments [Abstract]
Remainder of 2020	$ 1,290
2021	731
2022	458
2023	303
2024	200
2025 and thereafter	784
Total	3,766
Less interest	(292)
Present value of lease liabilities	$ 3,474
Minimum [Member]
Lessee, Operating Lease, Description [Abstract]
Secured borrowing term	1 year
Maximum [Member]
Lessee, Operating Lease, Description [Abstract]
Secured borrowing term	20 years
ASU 2016-02 [Member]
Assets and Liabilities [Abstract]
Operating lease right-of-use asset				$ 4,993

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2017
Income Taxes [Abstract]
Effective income tax rate	33.50%	21.00%	35.00%
Tax benefit resulting from provisions of the Coronavirus Aid	$ 9,532
Liability for uncertain tax positions increased	$ 125

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Disaggregation of Revenue [Abstract]
Total net sales	$ 288,848	$ 325,780
Contract assets	1,244		$ 4,660
Contract liabilities	5,258		6,511
Extended Warranty Revenue [Member]
Disaggregation of Revenue [Abstract]
Deferred revenue	3,368		3,536
Domestic [Member]
Disaggregation of Revenue [Abstract]
Total net sales	233,882	262,829
Domestic [Member] | Equipment Sales [Member]
Disaggregation of Revenue [Abstract]
Total net sales	141,716	174,299
Domestic [Member] | Parts and Component Sales [Member]
Disaggregation of Revenue [Abstract]
Total net sales	71,117	73,658
Domestic [Member] | Service and Equipment Installation Revenue [Member]
Disaggregation of Revenue [Abstract]
Total net sales	7,189	5,399
Domestic [Member] | Used Equipment Sales [Member]
Disaggregation of Revenue [Abstract]
Total net sales	7,160	3,176
Domestic [Member] | Freight Revenue [Member]
Disaggregation of Revenue [Abstract]
Total net sales	7,357	6,995
Domestic [Member] | Other [Member]
Disaggregation of Revenue [Abstract]
Total net sales	(657)	(698)
Canada [Member]
Disaggregation of Revenue [Abstract]
Total net sales	14,664	22,993
Australia [Member]
Disaggregation of Revenue [Abstract]
Total net sales	5,795	8,813
African [Member]
Disaggregation of Revenue [Abstract]
Total net sales	6,631	7,091
South America [Member]
Disaggregation of Revenue [Abstract]
Total net sales	8,796	7,054
Europe [Member]
Disaggregation of Revenue [Abstract]
Total net sales	9,375	6,490
Central America [Member]
Disaggregation of Revenue [Abstract]
Total net sales	1,390	3,549
International [Member]
Disaggregation of Revenue [Abstract]
Total net sales	54,966	62,951
International [Member] | Equipment Sales [Member]
Disaggregation of Revenue [Abstract]
Total net sales	33,864	40,463
International [Member] | Parts and Component Sales [Member]
Disaggregation of Revenue [Abstract]
Total net sales	17,591	18,943
International [Member] | Service and Equipment Installation Revenue [Member]
Disaggregation of Revenue [Abstract]
Total net sales	1,062	1,788
International [Member] | Used Equipment Sales [Member]
Disaggregation of Revenue [Abstract]
Total net sales	1,352	576
International [Member] | Freight Revenue [Member]
Disaggregation of Revenue [Abstract]
Total net sales	909	1,091
International [Member] | Other [Member]
Disaggregation of Revenue [Abstract]
Total net sales	188	90
China, Japan and Korea [Member]
Disaggregation of Revenue [Abstract]
Total net sales	2,270	2,140
Asia (excl. China, Japan and Korea) [Member]
Disaggregation of Revenue [Abstract]
Total net sales	435	2,131
West Indies [Member]
Disaggregation of Revenue [Abstract]
Total net sales	4,756	1,378
Middle East [Member]
Disaggregation of Revenue [Abstract]
Total net sales	849	851
Other Foreign Countries [Member]
Disaggregation of Revenue [Abstract]
Total net sales	5	461
Total Foreign [Member]
Disaggregation of Revenue [Abstract]
Total net sales	54,966	62,951
Infrastructure Solutions [Member]
Disaggregation of Revenue [Abstract]
Total net sales	202,618	219,249
Infrastructure Solutions [Member] | One Large Order [Member]
Disaggregation of Revenue [Abstract]
Contract assets			$ 7,249
Infrastructure Solutions [Member] | Domestic [Member]
Disaggregation of Revenue [Abstract]
Total net sales	172,845	187,114
Infrastructure Solutions [Member] | Domestic [Member] | Equipment Sales [Member]
Disaggregation of Revenue [Abstract]
Total net sales	100,419	119,095
Infrastructure Solutions [Member] | Domestic [Member] | Parts and Component Sales [Member]
Disaggregation of Revenue [Abstract]
Total net sales	52,641	54,499
Infrastructure Solutions [Member] | Domestic [Member] | Service and Equipment Installation Revenue [Member]
Disaggregation of Revenue [Abstract]
Total net sales	6,762	4,774
Infrastructure Solutions [Member] | Domestic [Member] | Used Equipment Sales [Member]
Disaggregation of Revenue [Abstract]
Total net sales	7,160	2,763
Infrastructure Solutions [Member] | Domestic [Member] | Freight Revenue [Member]
Disaggregation of Revenue [Abstract]
Total net sales	6,048	5,400
Infrastructure Solutions [Member] | Domestic [Member] | Other [Member]
Disaggregation of Revenue [Abstract]
Total net sales	(185)	583
Infrastructure Solutions [Member] | International [Member]
Disaggregation of Revenue [Abstract]
Total net sales	29,773	32,135
Infrastructure Solutions [Member] | International [Member] | Equipment Sales [Member]
Disaggregation of Revenue [Abstract]
Total net sales	19,424	21,414
Infrastructure Solutions [Member] | International [Member] | Parts and Component Sales [Member]
Disaggregation of Revenue [Abstract]
Total net sales	8,334	8,765
Infrastructure Solutions [Member] | International [Member] | Service and Equipment Installation Revenue [Member]
Disaggregation of Revenue [Abstract]
Total net sales	842	1,397
Infrastructure Solutions [Member] | International [Member] | Used Equipment Sales [Member]
Disaggregation of Revenue [Abstract]
Total net sales	606	110
Infrastructure Solutions [Member] | International [Member] | Freight Revenue [Member]
Disaggregation of Revenue [Abstract]
Total net sales	566	423
Infrastructure Solutions [Member] | International [Member] | Other [Member]
Disaggregation of Revenue [Abstract]
Total net sales	1	26
Material Solutions [Member]
Disaggregation of Revenue [Abstract]
Total net sales	86,230	106,531
Material Solutions [Member] | One Large Order [Member]
Disaggregation of Revenue [Abstract]
Contract assets	7,085
Material Solutions [Member] | Domestic [Member]
Disaggregation of Revenue [Abstract]
Total net sales	61,037	75,715
Material Solutions [Member] | Domestic [Member] | Equipment Sales [Member]
Disaggregation of Revenue [Abstract]
Total net sales	41,297	55,204
Material Solutions [Member] | Domestic [Member] | Parts and Component Sales [Member]
Disaggregation of Revenue [Abstract]
Total net sales	18,476	19,159
Material Solutions [Member] | Domestic [Member] | Service and Equipment Installation Revenue [Member]
Disaggregation of Revenue [Abstract]
Total net sales	427	625
Material Solutions [Member] | Domestic [Member] | Used Equipment Sales [Member]
Disaggregation of Revenue [Abstract]
Total net sales	0	413
Material Solutions [Member] | Domestic [Member] | Freight Revenue [Member]
Disaggregation of Revenue [Abstract]
Total net sales	1,309	1,595
Material Solutions [Member] | Domestic [Member] | Other [Member]
Disaggregation of Revenue [Abstract]
Total net sales	(472)	(1,281)
Material Solutions [Member] | International [Member]
Disaggregation of Revenue [Abstract]
Total net sales	25,193	30,816
Material Solutions [Member] | International [Member] | Equipment Sales [Member]
Disaggregation of Revenue [Abstract]
Total net sales	14,440	19,049
Material Solutions [Member] | International [Member] | Parts and Component Sales [Member]
Disaggregation of Revenue [Abstract]
Total net sales	9,257	10,178
Material Solutions [Member] | International [Member] | Service and Equipment Installation Revenue [Member]
Disaggregation of Revenue [Abstract]
Total net sales	220	391
Material Solutions [Member] | International [Member] | Used Equipment Sales [Member]
Disaggregation of Revenue [Abstract]
Total net sales	746	466
Material Solutions [Member] | International [Member] | Freight Revenue [Member]
Disaggregation of Revenue [Abstract]
Total net sales	343	668
Material Solutions [Member] | International [Member] | Other [Member]
Disaggregation of Revenue [Abstract]
Total net sales	$ 187	$ 64

Segment Information, Segment In

Segment Information, Segment Information (Details) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2020USD ($)BusinessunitSegment	Mar. 31, 2019USD ($)	Dec. 31, 2019Segment
Segment Information [Abstract]
Number of reportable segments | Segment	2		3
Segment reporting, disclosure and reportable segments revenues and profits [Abstract]
Net sales	$ 288,848	$ 325,780
Gross profit	74,021	76,850
Segment profit (loss)	$ 20,483	14,217
Infrastructure Solutions [Member]
Segment reporting, disclosure and reportable segments revenues and profits [Abstract]
Number of business units | Businessunit	13
Net sales	$ 202,618	219,249
Material Solutions [Member]
Segment reporting, disclosure and reportable segments revenues and profits [Abstract]
Number of business units | Businessunit	10
Net sales	$ 86,230	106,531
Corporate [Member]
Segment reporting, disclosure and reportable segments revenues and profits [Abstract]
Net sales	0	0
Gross profit	$ 93	$ (4)
Gross profit percent	0.00%	0.00%
Segment profit (loss)	$ (2,923)	$ (12,908)
Reportable Segments [Member]
Segment reporting, disclosure and reportable segments revenues and profits [Abstract]
Net sales	288,848	325,780
Gross profit	$ 74,021	$ 76,850
Gross profit percent	25.60%	23.60%
Segment profit (loss)	$ 20,332	$ 13,840
Reportable Segments [Member] | Infrastructure Solutions [Member]
Segment reporting, disclosure and reportable segments revenues and profits [Abstract]
Net sales	202,618	219,249
Gross profit	$ 52,923	$ 51,309
Gross profit percent	26.10%	23.40%
Segment profit (loss)	$ 17,220	$ 18,070
Reportable Segments [Member] | Material Solutions [Member]
Segment reporting, disclosure and reportable segments revenues and profits [Abstract]
Net sales	86,230	106,531
Gross profit	$ 21,005	$ 25,545
Gross profit percent	24.40%	24.00%
Segment profit (loss)	$ 6,035	$ 8,678
Intersegment Eliminations [Member]
Segment reporting, disclosure and reportable segments revenues and profits [Abstract]
Net sales	14,215	13,849
Segment profit (loss)	151	377
Intersegment Eliminations [Member] | Infrastructure Solutions [Member]
Segment reporting, disclosure and reportable segments revenues and profits [Abstract]
Net sales	5,941	9,092
Intersegment Eliminations [Member] | Material Solutions [Member]
Segment reporting, disclosure and reportable segments revenues and profits [Abstract]
Net sales	8,274	4,757
Intersegment Eliminations [Member] | Corporate [Member]
Segment reporting, disclosure and reportable segments revenues and profits [Abstract]
Net sales	$ 0	$ 0

Segment Information, Reconcilia

Segment Information, Reconciliation of Total Segment Profits to Consolidated Totals (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Reconciliation of total segment profits (losses) to the Company's consolidated totals [Abstract]
Net income	$ 20,483	$ 14,217
Net loss attributable to non-controlling interest in subsidiaries	161	57
Net income attributable to controlling interest	20,644	14,274
Reportable Segments [Member]
Reconciliation of total segment profits (losses) to the Company's consolidated totals [Abstract]
Net income	20,332	13,840
Intersegment Eliminations [Member]
Reconciliation of total segment profits (losses) to the Company's consolidated totals [Abstract]
Net income	$ 151	$ 377

Contingent Matters (Details)

Contingent Matters (Details) - USD ($) $ in Thousands	Aug. 16, 2018	Mar. 31, 2020	Dec. 31, 2019
Loss Contingency [Abstract]
Contingent liability for customer debt		$ 1,828	$ 1,466
Percentage of potential contingent liability on unpaid balance		1.75%
Maximum exposure		$ 584
Liability recorded related to guarantees		$ 1,498
Maximum maturity date of customer debt		Dec. 31, 2023
VenVer S.A. and Americas Coil Tubing LLP vs GEFCO [Member]
Loss Contingency [Abstract]
Damages sought for purchase price of equipment	$ 8,500
Maximum [Member]
Loss Contingency [Abstract]
Contingent liabilities for letters of credit		$ 10,198
Letter of Credit Lender [Member]
Loss Contingency [Abstract]
Contingent liabilities for letters of credit		7,877
Astec Brazil Working Capital Loans [Member]
Loss Contingency [Abstract]
Contingent liabilities for letters of credit issued on behalf of foreign subsidiaries		$ 3,200
Letter of Credit [Member] | Maximum [Member]
Loss Contingency [Abstract]
Letter of credit expiration date		Apr. 30, 2021
Performance Letters of Credit [Member]
Loss Contingency [Abstract]
Contingent liabilities for letters of credit issued on behalf of foreign subsidiaries		$ 2,321

Shareholders' Equity (Details)

Shareholders' Equity (Details) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)Ageshares	Mar. 31, 2019USD ($)shares
Restricted Stock Units (RSUs) [Member]
Restricted stock units under the long-term Incentive Plans [Abstract]
Vesting period	5 years
Retirement age | Age	65
Awards granted percentage	50.00%
Vesting period for awards granted in 2017 and 2018	3 years
Vesting period for awards granted in 2019 and thereafter	3 years
Restricted stock units vested (in shares) | shares	47	13
Shares withheld upon vesting (in shares) | shares	15	4
Vesting date fair value of vested restricted stock units during the period	$ 1,804	$ 509
Grant date fair value of restricted stock units granted	3,176	1,448
Anticipated additional compensation costs to be recognized in future period	5,688
Compensation expense	$ 933	$ 887
Restricted Stock Units (RSUs) [Member] | Non-Employee Directors Compensation Plan [Member]
Restricted stock units under the long-term Incentive Plans [Abstract]
Vesting period	1 year
Performance Stock Units [Member]
Restricted stock units under the long-term Incentive Plans [Abstract]
Awards granted percentage	50.00%
Anticipated additional compensation costs to be recognized in future period	$ 5,688
Performance Stock Units [Member] | Minimum [Member]
Restricted stock units under the long-term Incentive Plans [Abstract]
Actual shares vesting percentage	0.00%
Performance Stock Units [Member] | Maximum [Member]
Restricted stock units under the long-term Incentive Plans [Abstract]
Actual shares vesting percentage	200.00%
Combination of RSUs and Performance Stock Units ("PSUs") [Member]
Restricted stock units under the long-term Incentive Plans [Abstract]
Performance target period for incentive plan modified to award	3 years

Other Income, Net of Expenses_2

Other Income, Net of Expenses (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Other Income, Net of Expenses [Abstract]
Interest income	$ 220	$ 275
Gain (loss) on investments	(65)	149
Other	79	44
Total	$ 234	$ 468

Derivative Financial Instrume_2

Derivative Financial Instruments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Other Current Assets [Member]
Summary of Derivative Instruments [Abstract]
Derivative assets	$ 466	$ 4
Other Current Liabilities [Member]
Summary of Derivative Instruments [Abstract]
Derivative liabilities		$ 49
Foreign Exchange Contract [Member]
Summary of Derivative Instruments [Abstract]
Average notional amount	$ 8,332

Derivative Financial Instrume_3

Derivative Financial Instruments, Gain recognized in income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Cost of Sales [Member]
Gains on derivative financial instruments recognized in income, net [Abstract]
Net gains (loss) on derivative financial instruments recognized in income, net	$ 1,865	$ (76)

Restructuring and Asset Impai_2

Restructuring and Asset Impairment Charges (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Restructuring and Asset Impairment Charges [Abstract]
Restructuring and asset impairment charges	$ 2,711	$ 512
Goodwill impairment charges	1,646
Severance pay associated with work force reductions at other locations	470
Restructuring costs accrued but not paid	663
Enid Site [Member]
Restructuring and Asset Impairment Charges [Abstract]
Severance pay associated with exiting the oil and gas line of business	251
Astec Mobile Machinery (AMM) [Member]
Restructuring and Asset Impairment Charges [Abstract]
Restructuring charges		$ 512
Albuquerque Site Closing [Member]
Restructuring and Asset Impairment Charges [Abstract]
Costs associated with closing and moving its operations to another location	$ 344
Mobile Asphalt Equipment [Member]
Restructuring and Asset Impairment Charges [Abstract]
Percentage, impairment of goodwill	100.00%