ASTEC INDUSTRIES INC, 10-K filed on 2/25/2026
Annual Report
v3.25.4
Cover - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Feb. 20, 2026
Jun. 30, 2025
Cover [Abstract]      
Document Type 10-K    
Document Annual Report true    
Document Period End Date Dec. 31, 2025    
Current Fiscal Year End Date --12-31    
Document Transition Report false    
Entity File Number 001-11595    
Entity Registrant Name Astec Industries, Inc.    
Entity Incorporation, State or Country Code TN    
Entity Tax Identification Number 62-0873631    
Entity Address, Address Line One 1725 Shepherd Road    
Entity Address, City or Town Chattanooga    
Entity Address, State or Province TN    
Entity Address, Postal Zip Code 37421    
City Area Code 423    
Local Phone Number 899-5898    
Title of 12(b) Security Common Stock    
Trading Symbol ASTE    
Security Exchange Name NASDAQ    
Entity Well-known Seasoned Issuer Yes    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Filer Category Large Accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
ICFR Auditor Attestation Flag true    
Document Financial Statement Error Correction [Flag] false    
Entity Shell Company false    
Entity Public Float     $ 947.9
Entity Common Stock, Shares Outstanding   22,899,799  
Documents Incorporated by Reference
Portions of the registrant's definitive Proxy Statement to be filed with the Securities and Exchange Commission within 120 days after the end of the registrant's fiscal year ended December 31, 2025 are incorporated by reference into Part III of this Annual Report on Form 10-K where indicated.
    
Entity Central Index Key 0000792987    
Amendment Flag false    
Document Fiscal Year Focus 2025    
Document Fiscal Period Focus FY    
v3.25.4
Audit Information
 12 Months Ended
Dec. 31, 2025
Audit Information [Abstract]  
Auditor Name Deloitte & Touche LLP
Auditor Location Nashville, Tennessee
Auditor Firm ID 34
v3.25.4
Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Current assets:    
Cash, cash equivalents and restricted cash $ 72.0 $ 90.8
Investments 2.1 3.0
Trade receivables, contract assets and other receivables, net 218.7 167.2
Inventories 466.0 422.7
Prepaid and refundable income taxes 15.0 9.3
Prepaid expenses and other assets 42.8 29.8
Total current assets 816.6 722.8
Property and equipment, net 222.3 181.9
Investments 21.1 18.9
Goodwill 111.8 25.0
Intangible assets, net 124.5 11.2
Deferred income tax assets 25.3 45.8
Other long-term assets 45.6 38.0
Total assets 1,367.2 1,043.6
Current liabilities:    
Current maturities of long-term debt 16.2 0.0
Short-term debt 12.1 13.3
Accounts payable 93.5 79.2
Customer deposits 83.7 77.3
Accrued product warranty 19.3 16.1
Accrued employee related liabilities 51.2 38.2
Other current liabilities 52.0 47.6
Total current liabilities 328.0 271.7
Long-term debt 319.6 105.0
Deferred income tax liabilities 6.7 2.4
Other long-term liabilities 31.3 26.9
Total liabilities 685.6 406.0
Commitments and contingencies (Note 16)
Shareholders' equity:    
Preferred stock – authorized 2,000,000 shares of $1.00 par value; none issued 0.0 0.0
Common stock – authorized 40,000,000 shares of $0.20 par value; issued and outstanding – 22,877,530 in 2025 and 22,803,976 in 2024 4.6 4.6
Additional paid-in capital 149.6 142.9
Accumulated other comprehensive loss (40.6) (51.1)
Company stock held by deferred compensation programs, at cost (0.2) (0.3)
Retained earnings 568.3 541.7
Shareholders' equity 681.7 637.8
Noncontrolling interest (0.1) (0.2)
Total equity 681.6 637.6
Total liabilities and equity $ 1,367.2 $ 1,043.6
v3.25.4
Consolidated Balance Sheets (Parenthetical) - $ / shares
Dec. 31, 2025
Dec. 31, 2024
Statement of Financial Position [Abstract]    
Preferred stock, authorized (in shares) 2,000,000 2,000,000
Preferred stock, par value (in dollars per share) $ 1.00 $ 1.00
Preferred stock, issued (in shares) 0 0
Common stock, authorized (in shares) 40,000,000 40,000,000
Common stock, par value (in dollars per share) $ 0.20 $ 0.20
Common stock, issued (in shares) 22,877,530 22,803,976
Common stock, outstanding (in shares) 22,877,530 22,803,976
v3.25.4
Consolidated Statements of Operations - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Statement [Abstract]      
Net sales $ 1,410.4 $ 1,305.1 $ 1,338.2
Cost of sales 1,036.2 977.2 1,007.4
Gross profit 374.2 327.9 330.8
Selling, general and administrative expenses 308.7 276.1 276.4
Goodwill impairment 0.0 20.2 0.0
Restructuring, impairment and other asset (gains) charges, net (0.4) 8.4 5.8
Income from operations 65.9 23.2 48.6
Other expenses, net:      
Interest expense (18.5) (10.7) (8.9)
Interest income 3.3 2.0 2.1
Other income (expenses), net 2.4 (0.6) 1.0
Income before income taxes 53.1 13.9 42.8
Income tax provision 14.3 9.8 9.1
Net income 38.8 4.1 33.7
Net loss (income) attributable to noncontrolling interest 0.0 0.2 (0.2)
Net income attributable to controlling interest $ 38.8 $ 4.3 $ 33.5
Per share data:      
Earnings per common share - Basic (in dollars per share) $ 1.70 $ 0.19 $ 1.47
Earnings per common share - Diluted (in dollars per share) $ 1.68 $ 0.19 $ 1.47
Weighted average shares outstanding - Basic (in shares) 22,873,536 22,799,071 22,719,900
Weighted average shares outstanding - Diluted (in shares) 23,100,506 22,853,451 22,781,369
v3.25.4
Consolidated Statements of Comprehensive Income (Loss) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Statement of Comprehensive Income [Abstract]      
Net income (loss) $ 38.8 $ 4.1 $ 33.7
Other comprehensive income (loss):      
Foreign currency translation adjustments 10.6 (13.3) 2.1
Other comprehensive income (loss) 10.6 (13.3) 2.1
Comprehensive (income) loss attributable to noncontrolling interest (0.1) 0.5 (0.3)
Comprehensive income (loss) attributable to controlling interest $ 49.3 $ (8.7) $ 35.5
v3.25.4
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities      
Net income $ 38.8 $ 4.1 $ 33.7
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 36.3 26.8 25.6
Amortization of acquisition-related inventory fair value step-up 7.4 0.0 0.0
Provision for credit losses 2.1 0.6 1.6
Provision for warranties 23.9 18.6 17.6
Deferred compensation expense (benefit) 0.1 (0.1) (0.1)
Share-based compensation 7.1 5.0 4.1
Deferred tax provision (benefit) 0.4 (6.8) (6.4)
Gain on sale of property and equipment, net (0.2) (1.1) (3.1)
Goodwill impairment 0.0 20.2 0.0
Other impairment charges 0.0 0.0 1.2
Amortization of debt issuance costs 1.2 0.3 0.3
Distributions to deferred compensation programs' participants (1.1) (1.1) (1.8)
Change in operating assets and liabilities, excluding the effects of acquisitions:      
Purchase of trading securities, net (0.2) (1.5) (0.3)
Receivables and other contract assets (28.4) (20.6) 20.5
Inventories 11.8 27.4 (63.0)
Prepaid expenses (2.2) (3.5) 2.2
Other assets (0.5) (0.9) (12.8)
Accounts payable (2.1) (35.9) 7.7
Accrued employee related liabilities 9.7 (5.4) 8.7
Other accrued liabilities (4.7) (2.9) 0.6
Accrued product warranty (21.8) (18.9) (13.1)
Customer deposits (12.7) 7.6 1.0
Income taxes payable/prepaid (3.5) 11.1 3.6
Net cash provided by operating activities 61.4 23.0 27.8
Cash flows from investing activities:      
Acquisitions, net of cash acquired (248.7) 0.0 0.0
Expenditures for property and equipment (40.7) (20.5) (34.1)
Proceeds from sale of property and equipment 0.8 2.3 20.3
Proceeds from insurance 0.7 0.4 0.0
Purchase of investments (0.9) (1.1) (1.0)
Sale of investments 1.0 0.9 1.9
Net cash used in investing activities (287.8) (18.0) (12.9)
Cash flows from financing activities:      
Payment of dividends (11.9) (11.9) (11.8)
Proceeds from borrowings on credit facilities and bank loans 459.1 215.6 240.6
Repayments of borrowings on credit facilities and bank loans (230.1) (179.2) (245.8)
Payment of debt issuance costs (10.4) 0.0 0.0
Sale of Company stock by deferred compensation programs, net 0.1 0.4 0.3
Withholding tax paid upon vesting of share-based compensation awards (0.7) (0.5) (1.6)
Net cash provided by (used in) financing activities 206.1 24.4 (18.3)
Effect of exchange rates on cash 1.5 (1.8) 0.6
(Decrease) increase in cash and cash equivalents and restricted cash (18.8) 27.6 (2.8)
Cash, cash equivalents and restricted cash, beginning of period 90.8 63.2 66.0
Cash, cash equivalents and restricted cash, end of period 72.0 90.8 63.2
Cash paid during the year for:      
Interest 16.1 8.5 7.0
Income taxes paid, net 19.7 8.2 13.8
Supplemental disclosures of non-cash items      
Capital expenditures in accounts payable 0.5 1.0 1.5
Additions to right-of-use assets and lease liabilities $ 5.0 $ 2.4 $ 0.8
v3.25.4
Consolidated Statements of Equity - USD ($)
$ in Millions
Total
Common Stock
Additional Paid-in-Capital
Accumulated Other Comprehensive Loss
Company Shares Held by DCP, at Cost
Retained Earnings
Noncontrolling Interest
Balance at beginning of period (in shares) at Dec. 31, 2022   22,624,031          
Balance at beginning of period at Dec. 31, 2022 $ 626.9 $ 4.5 $ 135.8 $ (40.1) $ (1.1) $ 527.8 $ 0.0
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income (loss) 33.7         33.5 0.2
Other comprehensive income (loss) 2.1     2.0     0.1
Dividends (11.8)   0.1     (11.9)  
Share-based compensation 4.1   4.1        
Issuance of common stock under incentive plan (in shares)   116,604          
Withholding tax paid upon equity award vesting (1.6)   (1.6)        
Deferred compensation programs' transactions, net 0.3       0.3    
Balance at end of period (in shares) at Dec. 31, 2023   22,740,635          
Balance at end of period at Dec. 31, 2023 653.7 $ 4.5 138.4 (38.1) (0.8) 549.4 0.3
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income (loss) 4.1         4.3 (0.2)
Other comprehensive income (loss) (13.3)     (13.0)     (0.3)
Dividends (11.9)   0.1     (12.0)  
Share-based compensation 5.0   5.0        
Issuance of common stock under incentive plan (in shares)   63,341          
Issuance of common stock under incentive plan 0.1 $ 0.1          
Withholding tax paid upon equity award vesting (0.5)   (0.5)        
Deferred compensation programs' transactions, net $ 0.4   (0.1)   0.5    
Balance at end of period (in shares) at Dec. 31, 2024 22,803,976 22,803,976          
Balance at end of period at Dec. 31, 2024 $ 637.6 $ 4.6 142.9 (51.1) (0.3) 541.7 (0.2)
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income (loss) 38.8         38.8 0.0
Other comprehensive income (loss) 10.6     10.5     0.1
Dividends (11.9)   0.3     (12.2)  
Share-based compensation 7.1   7.1        
Issuance of common stock under incentive plan (in shares)   73,554          
Withholding tax paid upon equity award vesting (0.7)   (0.7)        
Deferred compensation programs' transactions, net $ 0.1       0.1    
Balance at end of period (in shares) at Dec. 31, 2025 22,877,530 22,877,530          
Balance at end of period at Dec. 31, 2025 $ 681.6 $ 4.6 $ 149.6 $ (40.6) $ (0.2) $ 568.3 $ (0.1)
v3.25.4
Consolidated Statements of Equity (Parenthetical) - $ / shares
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Statement of Stockholders' Equity [Abstract]      
Common stock dividends (in dollars per share) $ 0.52 $ 0.52 $ 0.52
v3.25.4
Business and Organization
 12 Months Ended
Dec. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Business and Organization Business and Organization
Description of Business

Astec Industries, Inc. ("Astec" or the "Company") is a Tennessee corporation which was incorporated in 1972. The Company designs, engineers, manufactures, markets and services equipment and components used primarily in asphalt and concrete road building and related construction activities, as well as other products discussed below. The Company's products are used in each phase of road building, from quarrying and crushing the aggregate to application of the road surface. The Company's product portfolio includes both asphalt and concrete equipment. The Company also manufactures certain equipment and components unrelated to road construction, including equipment for the mining, quarrying, construction, demolition, land clearing, energy, hydro-electric and recycling industries and port and rail yard operators; industrial heat transfer equipment; commercial whole-tree pulpwood chippers; horizontal grinders; blower trucks; commercial and industrial burners; and combustion control systems.

The Company's products are marketed both domestically and internationally primarily to asphalt and concrete producers; highway and heavy equipment contractors; utility contractors; sand and gravel producers; construction, demolition, recycling and crushing contractors; forestry and environmental recycling contractors; mine and quarry operators; port and inland terminal authorities; power stations and domestic and foreign government agencies. In addition to equipment sales, the Company manufactures and sells replacement parts for equipment in each of its product lines and replacement parts for some competitors' equipment. The distribution and sale of replacement parts is an integral part of the Company's business.

The Company operates in two reportable segments - Infrastructure Solutions and Materials Solutions. The Company's two reportable business segments comprise sites based upon the nature of the products produced or services provided, the type of customer for the products, the similarity of economic characteristics, the manner in which management reviews results and the nature of the production process, among other considerations.

The Corporate and Other category consists primarily of the parent company and Astec Insurance Company ("Astec Insurance" or the "captive"), a captive insurance company, which do not meet the requirements as an operating segment or inclusion in one of the other reporting segments.
v3.25.4
Basis of Presentation and Significant Accounting Policies
 12 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
Basis of Presentation and Significant Accounting Policies Basis of Presentation and Significant Accounting Policies
Basis of Presentation and Principles of Consolidation

The accompanying consolidated financial statements include the accounts of Astec and its subsidiaries and have been prepared by the Company, pursuant to the rules and regulations of the U.S. Securities and Exchange Commission ("SEC"). The Company prepares its consolidated financial statements in accordance with generally accepted accounting principles in the United States of America ("U.S. GAAP"). All intercompany balances and transactions between the Company and its affiliates have been eliminated in consolidation.

Noncontrolling interest in the Company's consolidated financial statements represents the 7% interest in a consolidated subsidiary which is not owned by the Company. Since the Company controls this subsidiary, the subsidiary's financial statements are consolidated with those of the Company, and the noncontrolling owner's 7% share of the subsidiary's net assets and results of operations is deducted and reported as "Noncontrolling interest" in the Consolidated Balance Sheets and as "Net loss (income) attributable to noncontrolling interest" in the Consolidated Statements of Operations. The Company executed an agreement in February 2022 with the noncontrolling interest holder to acquire their outstanding interest in full for R$10.0M (approximately $2.0 million, subject to the effect of exchange rates). Completion of the transaction is subject to resolution of certain disputes between the parties.

Use of Estimates

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported and disclosed in the consolidated financial statements and accompanying notes. Significant items subject to such estimates and assumptions include excess and obsolete inventory, inventory net realizable value, product warranty obligations, capitalized implementation costs, fair value of assets acquired and liabilities assumed in a business combination, goodwill and other intangible assets impairment and the measurement of income tax assets and liabilities. The Company bases its estimates on historical experience and on various other assumptions that the Company believes to be reasonable under the circumstances. On an ongoing basis, the Company evaluates these assumptions, judgments and estimates. Actual results could differ from those estimates.

All dollar amounts, except per share amounts, are in millions of dollars unless otherwise indicated.
Significant Accounting Policies

Cash, Cash Equivalents and Restricted Cash - All highly liquid investments with an original maturity of three months or less when purchased are considered to be cash equivalents. The Company maintains cash balances with high credit quality institutions, the balances of which may exceed federally insured limits.

The Company had cash of $2.0 million and $2.5 million as of December 31, 2025 and 2024, respectively, that is restricted as to withdrawal or use primarily related to retention guarantees mainly held by its foreign subsidiaries, which is included in "Cash, cash equivalents and restricted cash" in the Consolidated Balance Sheets.

Investments - Investments consist primarily of investment-grade marketable securities. All investments held as of December 31, 2025 are classified as trading securities and are carried at fair value, with unrealized holding gains and losses included in "Other income (expenses), net" in the Consolidated Statements of Operations. Realized gains and losses are accounted for on the specific identification method. Purchases and sales are recorded on a trade-date basis. Management determines the appropriate classification of its investments at the time of acquisition and reevaluates such determination at each balance sheet date.

Accounts Receivable - The Company sells products to a wide variety of customers. Accounts receivable are carried at their outstanding principal amounts, less an allowance for credit losses. The Company extends credit to its customers based on an evaluation of the customers' financial condition generally without requiring collateral, although the Company normally requires advance payments or letters of credit on large equipment orders. A portion of the Company's credit risk is limited through credit insurance in certain international jurisdictions.

The Company held notes and other receivables, net totaling $4.5 million and $3.3 million as of December 31, 2025 and 2024, respectively in "Trade receivables, contract assets and other receivables, net" in the Consolidated Balance Sheets.

Allowance for Credit Losses - The Company measures its credit losses on receivables using an expected loss model. The Company currently monitors credit levels and financial conditions of customers on a continuing basis, considering historical trends for uncollectible accounts, current economic conditions and specific customer recent payment history and financial stability. An allowance for credit losses is maintained in "Trade receivables, contract assets and other receivables, net" in the Consolidated Balance Sheets at a level which management believes is sufficient to cover all probable future credit losses as of the balance sheet date based on a rolling twelve-month "look-back" and specific reserves. The Company applies the practical expedient to assume that current conditions as of the balance sheet date do not change for the remaining life of accounts receivable and contract assets. The corresponding provision for credit losses is recorded in "Selling, general and administrative expenses" in the Consolidated Statements of Operations.

Amounts are deemed past due when they exceed the payment terms agreed to by the customer in the sales contract. Past due amounts are charged off when reasonable collection efforts have been exhausted and the amounts are deemed uncollectible by management. The majority of the Company’s receivables are related to equipment that requires significant down payment with other terms allowing for payment shortly after shipment, typically 30 days, which the Company believes is short-term in nature.

The following table represents a rollforward of the allowance for credit losses related to trade receivables for the years ended December 31, 2025, 2024 and 2023:

Years Ended December 31,
(in millions)202520242023
Allowance balance, beginning of year$2.3 $3.3 $2.3 
Provision2.1 0.9 1.6 
Write offs(0.7)(1.8)(0.6)
Recoveries and other— (0.1)— 
Allowance balance, end of year$3.7 $2.3 $3.3 

Inventories - The Company's inventory is comprised of raw materials and parts, work-in-process, finished goods and used equipment.

Raw material and parts inventory comprises 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 inventory 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 inventory consists of completed equipment manufactured for sale to customers.

Used equipment inventory consists of equipment accepted in trade or purchased on the open market. This 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, the Company's normal gross margins, actions by the Company or its competitors, the condition of its used and rental equipment inventory and general economic factors. Once an inventory item's value has been deemed to be less than cost, a net realizable value allowance 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.

One of the most significant components 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 equipment 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 slow-moving or 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.

Assets Held for Sale - Assets are classified as held for sale when any ongoing operations have ceased, and the Company has committed to a plan to sell the assets in their current condition at a price that is reasonable in relation to the current fair value of the assets. Assets held for sale are generally expected to be sold within one year of meeting the designation criteria. Upon designation as held for sale, the assets are recorded at the lower of their carrying value or fair value less costs to sell, and related depreciation and amortization is ceased. The held for sale designation and carrying value of assets held for sale is periodically reviewed and adjusted as facts and circumstances indicate that a change may be necessary.

Property and Equipment - Property and equipment is stated at cost. Expenditures for maintenance, repairs and minor renewals are charged against earnings as incurred. Expenditures for major renewals and improvements that substantially extend the capacity or useful life of an asset are capitalized and are then depreciated. The cost and accumulated depreciation for property and equipment sold, retired or otherwise disposed of are relieved from the accounts and resulting gains or losses are reflected in earnings.

Property and equipment are depreciated over the estimated useful lives of the assets using the straight-line depreciation method for financial reporting and on accelerated methods for income tax purposes. Land is recorded at historical cost and is not depreciated. The useful lives are estimated based on historical experience with similar assets, considering anticipated technological or other changes. The Company periodically reviews these lives relative to physical factors and industry trends. If there are changes in the planned use of property or equipment or if technological changes were to occur more rapidly than anticipated, the useful lives assigned to these assets may need to be shortened, resulting in the recognition of accelerated depreciation expense in future periods.
Property and equipment are primarily depreciated over the following useful lives:

Years
Buildings and improvements
5 - 40
Airplanes and aviation equipment
5 - 20
Machinery, equipment and tooling
3 - 10
Furniture and fixtures
5 - 10
Computer hardware and software
3 - 5

Impairment of Long-Lived Assets - In the event that facts and circumstances indicate the carrying amounts of long-lived assets may be impaired, an evaluation of recoverability is performed. If an evaluation is required, the estimated future undiscounted cash flows associated with the asset are compared to the carrying amount for each asset (or group of assets) to determine if a write-down is required. If this review indicates that the assets will not be recoverable, the carrying values of the impaired assets are reduced to their estimated fair value. Fair value is estimated using discounted cash flows, prices for similar assets or other valuation techniques.

Leases - The Company leases certain real estate, material handling equipment, automobiles and other equipment. The Company determines if a contract is a lease (or contains an embedded lease) at the inception of the agreement. For a contract to be determined to be a lease or contain a lease, it must include explicitly or implicitly identified assets where the Company has the right to substantially all of the economic benefits of the assets and has the ability to direct how and for what purpose the assets are used during the lease term. Leases are classified as either operating or finance. For operating leases, the Company recognizes a lease liability equal to the present value of the remaining lease payments and a right-of-use ("ROU") asset equal to the lease liability, subject to certain adjustments, such as prepaid rent. ROU assets represent the right to use an underlying asset for the lease term, and lease liabilities represent the Company's obligation to make lease payments arising from the lease. As of December 31, 2025 and 2024, the Company did not have any finance leases.

The Company uses its incremental borrowing rate to determine the present value of the lease payments. The Company's incremental borrowing rate is the rate of interest that it would incur to borrow on a collateralized basis over a similar term an amount equal to the lease payments in a similar economic environment. The Company determines the incremental borrowing rates based upon secured borrowing rates quoted by the Company's banks for loans of a corresponding length to the lease.

The lease term at the lease commencement date is determined based on the non-cancellable period for which the Company has the right to use the underlying asset, together with any periods covered by an option to extend the lease if the Company is reasonably certain to exercise that option, periods covered by an option to terminate the lease if the Company is reasonably certain not to exercise that option and periods covered by an option to extend (or not to terminate) the lease in which the exercise of the option is controlled by the lessor. The Company considers a number of factors when evaluating whether the options in its lease contracts are reasonably certain of exercise, such as length of time before an option exercise, expected value of the leased asset at the end of the initial lease term, importance of the lease to the Company's operations, costs to negotiate a new lease and any contractual or economic penalties.

The Company does not recognize ROU assets or lease liabilities for leases with a term of 12 months or less.

Capitalization of Implementation Costs and Internal Use Software - Software development activities generally consist of three stages: (i) the preliminary project stage, (ii) the application development stage and (iii) the post implementation and operation stage. The Company capitalizes certain software development costs during the application development stage. These costs may include vendor hosted software costs, personnel expenses for employees and costs for third-party consulting services which are directly associated with the software development. Capitalization ends once the implementation is substantially complete, at which point the capitalized costs are amortized ratably over the remaining contract term plus any reasonably certain renewal periods. Software development costs that do not meet the qualification for capitalization are expensed as incurred and recorded in "Selling, general and administrative expenses" in the Consolidated Statements of Operations.

Goodwill and Other Intangible Assets - Goodwill represents the excess of the purchase price over the fair value of identifiable net assets of businesses acquired. Goodwill is not amortized but is tested at the reporting unit level for impairment annually on October 1, or more frequently, as events dictate. A reporting unit is an operating segment or, under certain circumstances, a component of an operating segment that constitutes a business, has available discrete financial information and whose operating results are regularly reviewed by management. Components of an operating segment are combined and aggregated as a single reporting unit if the components have similar economic characteristics.

Goodwill is tested for impairment by either performing a qualitative evaluation or a quantitative test. The qualitative evaluation is an assessment of factors that includes, but is not limited to, the macroeconomic conditions, industry and competitive environment conditions, overall financial performance, business specific events and market considerations. The Company may elect not to perform the qualitative assessment for some or all reporting units and perform the quantitative impairment test. If a
qualitative assessment indicates that it is more likely than not that a reporting unit's fair value is less than its carrying amount, the Company will perform a quantitative test.

The quantitative goodwill impairment test requires the comparison of the carrying value of the reporting unit's net assets to the fair value of the reporting unit. The Company determines fair values of each reporting unit using an equally weighted combination of the discounted cash flow method, a form of the income approach, and the guideline public company method, a form of the market approach. This analysis requires significant assumptions, including projected net sales, projected earnings before interest, tax, depreciation and amortization, terminal growth rates, the cost of capital, the selection of appropriate guideline companies and related valuation multiples. Management's estimates are subject to change given the inherent uncertainty in predicting future results. Additionally, the discount rate and the terminal growth rate are based on management's judgment of the rates that would be utilized by a hypothetical market participant. If a quantitative assessment indicates that it is more likely than not that a reporting unit's fair value is less than its carrying amount, a goodwill impairment charge would be recorded.

The Company's intangible assets have definite lives and are subject to amortization. Intangible assets are tested for impairment whenever events or changes in circumstances indicate that their carrying values may not be recoverable. The Company determines the useful lives of identifiable intangible assets after considering the specific facts and circumstances related to each intangible asset. Factors considered when determining useful lives include the contractual terms of agreements, the history of the asset, the Company's long-term strategy for the use of the asset, any laws or other local regulations which could impact the useful life of the asset and other economic factors, including competition and specific market conditions.

The Company tests intangible assets with definite lives for impairment if conditions exist that indicate the carrying value may not be recoverable. Such conditions may include an economic downturn in a geographic market or a change in the assessment of future operations. An impairment charge is recorded when the carrying value of the definite-lived intangible asset is not recoverable by the future undiscounted cash flows expected to be generated from the use of the asset, which are evaluated at the asset group level.

Intangible assets with definite lives are amortized on a straight-line basis over the following estimated useful lives:
Years
Dealer network and customer relationships
8 - 18
Trade names
3 - 10
Other
3 - 12

Product Warranty Reserve - The Company accrues for the estimated cost of product warranties at the time revenue is recognized. Warranty obligations by product line or model are evaluated based on historical warranty claims experience. For equipment, the Company's standard product warranty terms generally include post-sales support and repairs of products at no additional charge for periods ranging from three months to two years or up to a specified number of hours of operation. For parts from component suppliers, the Company relies on the original manufacturer's warranty that accompanies those parts. Generally, Company fabricated parts are not covered by specific warranty terms. Although failure of fabricated parts due to material or workmanship is rare, if it occurs, the Company's policy is to replace fabricated parts at no additional charge.

Estimated warranty obligations are based upon warranty terms, product failure rates, repair costs and current period machine shipments. If actual product failure rates, repair costs, service delivery costs or post-sales support costs differ from the Company's estimates, these estimates will be re-evaluated and adjustments to the estimated warranty liability will be made, if required.

Income Taxes - Income taxes are based on pretax financial accounting income. Deferred tax assets and liabilities are recognized for the expected tax consequences of temporary differences between the tax bases of assets and liabilities and their reported amounts. The Company periodically assesses the need to establish valuation allowances against its deferred tax assets to the extent the Company no longer believes it is more likely than not that the tax assets will be fully utilized.

The Company evaluates a tax position to determine whether it is more likely than not that the tax position will be sustained upon examination, based upon the technical merits of the position. A tax position that meets the more likely than not recognition threshold is subject to a measurement assessment to determine the amount of benefit to recognize and the appropriate reserve to establish, if any. If a tax position does not meet the more likely than not recognition threshold, no benefit is recognized. The Company is periodically audited by U.S. federal and state as well as foreign tax authorities. While it is often difficult to predict a final outcome or timing of resolution of any particular tax matter, the Company believes its reserve for uncertain tax positions is adequate to reduce the uncertain positions to the greatest amount of benefit that is more likely than not realizable.

Self-Insurance Reserves - The Company retains the risk for a portion of its workers' compensation claims and general liability claims by way of a captive insurance company, Astec Insurance. The objectives of Astec Insurance are to improve control over and reduce the cost of claims; to improve focus on risk reduction with the development of a program structure which rewards proactive loss control; and to ensure management participation in the defense and settlement process for claims.
For general liability claims, the captive is liable for the first $1.0 million per occurrence. The Company carries general liability, excess liability and umbrella policies for claims in excess of amounts covered by the captive.

For workers' compensation claims, the captive is liable for the first $0.35 million per occurrence. The Company utilizes a large national insurance company as third-party administrator for workers' compensation claims and carries insurance coverage for claims liabilities in excess of amounts covered by the captive.

The financial statements of the captive are included in the consolidated financial statements of the Company. The short-term and long-term reserves for claims and potential claims related to general liability and workers' compensation under the captive are included in "Other current liabilities" or "Other long-term liabilities" in the Consolidated Balance Sheets depending on the expected timing of future payments. The undiscounted reserves are actuarially determined to cover the ultimate cost of each claim 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. However, the Company does not believe it is reasonably likely that the reserve level will materially change in the foreseeable future.

The Company is self-insured for health and prescription claims under its Group Health Insurance Plan for all of the Company's domestic employees. The Company carries reinsurance coverage to limit its exposure for individual health claims above certain limits. Third parties administer health claims and prescription medication claims. The Company maintains a reserve for the self-insured health plan which is included in "Other current liabilities" in the Company's Consolidated Balance Sheets. This reserve includes both unpaid claims and an estimate of claims incurred but not reported, based on historical claims and payment experience. Historically, the reserves have been sufficient to provide for claims payments. Changes in actual claims experience or payment patterns could cause the reserve to change, but the Company does not believe it is reasonably likely that the reserve level will materially change in the near future.

Employees of the Company's foreign subsidiaries are insured under separate health plans. No reserves are necessary for these fully-insured health plans.

Accumulated Other Comprehensive Loss - Accumulated other comprehensive loss is comprised of foreign currency translation adjustments of $40.6 million and $51.1 million as of December 31, 2025 and 2024, respectively.

Revenue Recognition - Revenue is generally recognized when the Company satisfies a performance obligation by transferring control of goods or providing services. 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. The Company offers extended warranties for sale on certain equipment sold to its customers. Costs of obtaining sales contracts with an expected duration of one year or less are expensed as incurred. Revenue adjustments for a potential significant financing component or the costs to obtain the contract are not made for contracts that are paid within one year from the date of the contract fulfillment.

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 the Company has 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 the Company's dealer customers, payments for extended warranties or for obligations for future estimated returns to be allowed based upon historical trends. Other contract assets and liabilities are typically not material as a percentage of total assets or total liabilities, respectively.

When sales contain multiple performance obligations, revenue attributable to the sale of a product is recognized when the product is shipped, and the revenue attributable to services provided with respect to the product (such as installation services) is recognized when the service is performed. Consideration is allocated to deliverables using observable market prices from stand-alone performance obligations or a cost plus margin approach when one is not available. Otherwise, the Company uses third-party evidence of selling price or an estimate of the selling price for the deliverables. Sales with multiple performance obligations are evaluated to determine whether revenue related to individual elements should be recognized separately or as a combined unit.
The Company had orders totaling approximately $29.5 million, $24.5 million and $16.0 million in 2025, 2024 and 2023, respectively, on which revenue was recorded over time based upon the ratio of costs incurred to estimated total costs.

Certain contracts include terms and conditions pursuant to which the Company recognizes revenues upon the completion of production and, at the request of the customer, stores the equipment at the Company's facilities. Under the terms of such contracts, revenue is recorded upon the customer's assumption of title and risk of ownership and when the Company has a present right to payment. In addition, the equipment is segregated from the Company's inventory, specifically identified as belonging to the customer, ready for physical transfer to the customer and cannot be used by the Company or redirected to another customer. The Company has not retained any specific performance obligations such that the earnings process is not complete 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 typically obtained by trade-in on new equipment sales or as a separate purchase in the open market. Revenues from the sale of used equipment are recognized upon transfer of control to the customer at agreed upon pricing.

Freight Revenue - 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 floor plan interest reimbursements, extended warranty revenues and rental revenues.

Advertising Expense - The cost of advertising is expensed as incurred. The Company incurred $2.3 million, $2.1 million and $1.8 million in advertising costs during 2025, 2024 and 2023, respectively, which are included in "Selling, general and administrative expenses" in the Consolidated Statements of Operations.

Research and Development - Research and development costs primarily include employee compensation and prototype materials costs related to the development of new products and significant improvements to existing product lines. These costs are expensed as incurred. The Company incurred $26.9 million, $23.8 million and $22.0 million in research and development costs during 2025, 2024 and 2023, respectively, which are included in "Selling, general and administrative expenses" in the Consolidated Statements of Operations.

Share-Based Compensation - The grant date fair value of share-based compensation awards is based upon the closing market price of the Company's common stock on the day prior to the grant date, except for performance stock awards with a total shareholder return ("TSR") market metric for which the Company estimates fair value using a Monte-Carlo simulation model. The Company recognizes compensation expense for all awards over the requisite service period. Forfeitures are recognized as they occur. Compensation expense is based on the grant date fair value as described above, except for performance stock awards with a return on invested capital ("ROIC") performance metric. For these awards, compensation expense is based on the probable outcome of achieving the specified performance conditions. The Company reassesses whether achievement of the ROIC performance metric is probable at each reporting date. The Company's equity awards are further described in Note 17, Share-Based Compensation.

Restructuring - The Company continually reviews its organizational structure and operations to ensure they are optimized and aligned with achieving near-term and long-term operational and profitability targets. In connection with this review, significant restructuring actions may be implemented. These actions can include personnel terminations, reorganization efforts to simplify and consolidate the Company's operations or the divestiture of underperforming manufacturing sites or product lines. Employee severance and related termination benefits are primarily based on the Company's employment policies and substantive severance plans. The Company records liabilities related to severance programs when the actions are probable and the amounts are reasonably estimable, which typically is when a restructuring plan has been approved. Additional liabilities may be recorded if a restructuring plan is extended or additional benefits are provided. In the event that affected employees are required to render additional service in order to receive severance benefits at their termination dates, severance costs are measured at the date that benefits are communicated to the applicable employees and recognized as expense over the employees’ remaining service periods. Any incremental or recovery of expense related to stock compensation programs are recognized at the end of the employees' service periods. Restructuring costs include any ongoing costs related to exited businesses as such costs are incurred. Contract termination costs, if applicable, are recorded when contracts are terminated. See Note 21, Strategic Transformation and Restructuring, Impairment and Other Asset (Gains) Charges, net for additional discussion of the most recent restructuring actions taken.
Acquisitions - The Company accounts for business combinations using the acquisition method. Accordingly, intangible assets are recorded apart from goodwill if they arise from contractual or legal rights or if they are separable from goodwill. Acquisition costs are expensed as incurred and contingent consideration, if applicable, is booked at its fair value as part of the purchase price. See Note 3, Acquisition for additional information on the Company's most recent acquisition.

Derivatives and Hedging Activities - The Company recognizes all derivatives in the Consolidated Balance Sheets at their fair value. Derivatives that are not hedges are adjusted to fair value through income. If the derivative is a hedge, depending on the nature of the hedge, changes in the fair value of derivatives are either offset against the change in fair value of assets, liabilities or firm commitments through income or recognized in other comprehensive income (loss) until the hedged item is recognized in income. The ineffective portion of a derivative's change in fair value is immediately recognized in income. From time to time, the Company's foreign subsidiaries enter into foreign currency exchange contracts to mitigate exposure to fluctuation in currency exchange rates.

The Company is exposed to certain risks relating to its ongoing business operations. The primary risk managed by using derivative instruments is foreign currency risk. The fair value of the derivative financial instrument is recorded in the Consolidated Balance Sheets and is adjusted to fair value at each measurement date. The changes in fair value are recognized in the Consolidated Statements of Operations in the current period. The Company does not engage in speculative transactions, nor does it hold or issue derivative financial instruments for trading purposes. The weighted average U.S. dollar equivalent notional amount of outstanding foreign currency exchange contracts was $4.8 million during the year ended December 31, 2025. The Company reported no derivative assets or liabilities as of December 31, 2025 or 2024.

The Company recognized, as a component of "Other income (expenses), net", net losses on the change in fair value of derivative instruments of $0.7 million, $0.2 million and $0.4 million for the years ended December 31, 2025, 2024 and 2023, respectively. There were no derivatives that were designated as hedges as of December 31, 2025 or 2024.

Foreign Currency - Subsidiaries located in Australia, Belgium, Brazil, Canada, China, France, India, South Africa, Sweden and the United Kingdom operate primarily using local functional currencies. Accordingly, assets and liabilities of these subsidiaries are translated using exchange rates in effect at the end of the period, and revenues and costs are translated using average exchange rates in effect during the period. The resulting adjustments are presented as a separate component of "Accumulated other comprehensive loss". Foreign currency transaction gains and losses, net are included in "Other income (expenses), net" and amounted to a gain of $1.6 million, a loss of $1.0 million and a gain of $1.1 million in 2025, 2024 and 2023, respectively.

Earnings Per Share - Basic earnings per share is computed by dividing "Net income attributable to controlling interest" by the weighted average number of shares outstanding during the reported period. Deferred stock units are fully vested and, as such, are included in basic earnings per share. Diluted earnings per share includes the dilutive effect of common stock equivalents consisting of restricted stock units, performance stock units, related dividend equivalents and stock held in the Company's deferred compensation programs, using the treasury stock method. Potential common shares that have an antidilutive effect (i.e., those that increase income per share or decrease loss per share) are excluded from the calculation of diluted earnings per share. Performance stock units, which are considered contingently issuable, are considered dilutive when the related performance criterion has been met.

The following table sets forth a reconciliation of the number of shares used in the computation of basic and diluted earnings per share:

Years Ended December 31,
202520242023
Denominator:
Denominator for basic earnings per share22,873,536 22,799,071 22,719,900 
Effect of dilutive securities:
Restricted stock units79,209 24,644 31,847 
Unvested performance share units141,108 13,743 3,144 
Deferred compensation programs6,653 15,993 26,478 
Denominator for diluted earnings per share23,100,506 22,853,451 22,781,369 
Antidilutive securities excluded from the calculation of diluted earnings per share539 26,710 7,495 

Related Party Transactions - The Company had no material related party transactions during the years ended December 31, 2025, 2024 and 2023.

Adjustments - During the fourth quarter of 2024, the Company identified immaterial errors associated with the calculation of its income tax provisions in its historical financial statements. The cumulative effect of the errors generated in prior years was
corrected during the fourth quarter of 2024, resulting in an increase in "Income tax provision" of $2.7 million. These adjustments were not considered material to the Company's consolidated financial statements for the previously filed annual periods.
Recently Adopted Accounting Pronouncements

In November 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2023-07, "Segment Reporting (Topic 280): Improvement to Reportable Segment Disclosures", which requires entities to disclose significant segment expenses, other segment items, the title and position of the chief operating decision maker ("CODM") and information related to how the CODM assesses segment performance and allocates resources, among certain other required disclosures. Additionally, current annual disclosures will be required in interim periods. The new standard is effective, on a retrospective basis, for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The Company adopted this guidance beginning with the Annual Report on Form 10-K for the year ended December 31, 2024 for annual disclosures and the Quarterly Report on Form 10-Q for quarter ended March 31, 2025 for interim disclosures. See Note 19, Operations by Industry Segment and Geographic Area for additional information on the Company's reportable segments.

In December 2023, the FASB issued ASU 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures," which requires entities to disclose specific categories in the income tax rate reconciliation and provide additional information for reconciling items that meet a specified quantitative threshold. In addition, the new standard requires disclosure of the amount of income taxes paid disaggregated by federal, state and foreign taxes and by jurisdiction for exceeding a specified quantitative threshold. Additionally, income or loss from continuing operations before income tax will be required to be disaggregated between domestic and foreign classifications, and income tax expense will be required to be disaggregated between federal, state and foreign classifications. The new standard is effective for fiscal years beginning after December 15, 2024 on a prospective basis, with retrospective application permitted. The Company adopted this guidance prospectively beginning with the Form 10-K filing herein for the year ended December 31, 2025. See Note 15, Income Taxes for the required disclosures as stated in the ASU.

Recently Issued Accounting Pronouncements Not Yet Adopted

In November 2024, the FASB issued ASU 2024-03, "Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses", which requires entities to disclose specific types of expenses included in the expense captions presented on the face of the income statement, among other disclosures. The new guidance is effective for annual reporting periods beginning after December 15, 2026 and interim reporting periods beginning after December 15, 2027 on a prospective basis, with retrospective application permitted. The Company is currently evaluating the impact this ASU will have on its financial statement disclosures, but this standard will not impact the Company's results of operations, financial position or cash flows.

Recent accounting guidance not discussed above is not applicable, did not have or is not expected to have a material impact on the Company.
v3.25.4
Acquisition
 12 Months Ended
Dec. 31, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Acquisition Acquisition
On July 1, 2025, the Company completed the acquisition of TerraSource Holdings, LLC ("TerraSource"), a market-leading manufacturer of material processing equipment and related aftermarket parts serving complementary crushing, screening and separation applications (such acquisition, the "Acquisition"). Pursuant to the Acquisition, the Company acquired 100% of the equity interests of TerraSource. The total cash consideration paid for by the Company to the sellers of TerraSource was $252.6 million. The Acquisition provides the Company with access to adjacent markets in materials processing equipment and related aftermarket parts. The acquired TerraSource business is included in the Company's Materials Solutions reportable segment.

The Company financed the purchase price and related fees and expenses using net proceeds from a credit agreement entered into with Wells Fargo Bank, National Association, as administrative agent, and the lenders party thereto from time to time (the "2025 Credit Agreement"). See Note 11, Debt for additional details on financing transactions.

Acquisition-related costs of $5.9 million and $0.8 million were expensed as incurred during the years ended December 31, 2025 and 2024, respectively. These costs are recorded in "Selling, general and administrative expenses" in the Consolidated Statements of Operations. Additionally, $7.4 million related to the amortization of acquisition-related inventory fair-value step-up was recorded in "Cost of sales" during the year ended December 31, 2025.
The following table summarizes the preliminary purchase price allocation for the Acquisition, which is subject to change as the Company continues to evaluate the fair value of the assets acquired and liabilities assumed:

(in millions)Amount
Payment to equity holders$176.6 
Payment of TerraSource's outstanding debt71.9 
Transaction expenses paid on behalf of the seller4.1 
Aggregate purchase consideration252.6 
Identifiable assets acquired:
Cash, cash equivalents and restricted cash3.9 
Trade receivables, contract assets and other receivables, net21.4 
Inventories58.4 
Other current assets11.0 
Property and equipment, net20.4 
Intangible assets, net127.2 
Other long-term assets6.3 
Total assets acquired248.6 
Identifiable liabilities assumed:
Current liabilities47.2 
Long-term liabilities35.2 
Total liabilities assumed82.4 
Total identifiable net assets166.2 
Goodwill$86.4 

The preliminary purchase price allocation presented above was based on management's estimate of the fair values of the acquired assets and assumed liabilities using valuation techniques including the income, market and cost approaches. The goodwill is attributable to the differences between the estimated fair value of the consideration transferred and the estimated fair value of the assets acquired, and liabilities assumed. Goodwill of $17.4 million is expected to be deductible for tax purposes.

The following table summarizes the identifiable definite-lived intangible assets acquired. All intangible assets acquired in the TerraSource acquisition are subject to amortization:

(in millions except useful lives)Fair ValueEstimated Useful Life (in years)
Trade Names$7.8 10
Patents5.0 10
Customer Relationships110.0 10
Other4.4 
3 - 5
Total identifiable definite-lived intangible assets acquired$127.2 

The acquired TerraSource business contributed revenues and a net loss of $84.7 million and $2.7 million, respectively, during the year ended December 31, 2025.

Pro Forma Financial Information

The following unaudited pro forma summary information reflects the consolidated results of the Company's operations as if the Acquisition had been completed on January 1, 2024. The information presented below is provided for illustrative purposes only and does not purport to represent what the Company's consolidated results of operations would have been had the Acquisition actually occurred as of January 1, 2024.

Year Ended December 31,
(in millions)20252024
Revenue$1,477.3 $1,464.5 
Net income (loss)$42.1 $(19.4)

These pro forma amounts have been calculated after applying the Company's accounting policies and adjusting to illustrate the impact of amortization and depreciation expense related to acquired intangible and tangible assets, respectively, incremental
interest costs on the borrowings used to fund the Acquisition, amortization of an increase in the fair value of inventory acquired, transaction costs and the related tax impact associated with these adjustments.
v3.25.4
Inventories
 12 Months Ended
Dec. 31, 2025
Inventory Disclosure [Abstract]  
Inventories Inventories
Inventories consist of the following:

December 31,
(in millions)20252024
Raw materials and parts$309.6 $275.4 
Work-in-process70.6 60.9 
Finished goods76.6 83.5 
Used equipment9.2 2.9 
Total$466.0 $422.7 
v3.25.4
Fair Value Measurements
 12 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Fair Value Measurements Fair Value Measurements
The Company has various financial instruments that must be measured at fair value on a recurring basis, including marketable debt and equity securities held by Astec Insurance and marketable equity securities held in the Company's deferred compensation programs. The Company's deferred compensation programs ("DCP") include a non-qualified Supplemental Executive Retirement Plan ("SERP") and a separate non-qualified Deferred Compensation Plan. Although the DCP investments are allocated to individual participants, and investment decisions are made solely by those participants, they are non-qualified plans. Consequently, the Company owns the assets and the related offsetting liability for disbursement until such time as a participant makes a qualifying withdrawal. The DCP assets and related offsetting liabilities are recorded in non-current "Investments" and "Other long-term liabilities", respectively, in the Consolidated Balance Sheets. The Company's subsidiaries also occasionally enter into foreign currency exchange contracts to mitigate exposure to fluctuations in currency exchange rates.

The carrying amount of cash, cash equivalents and restricted cash, trade receivables and contract assets, other receivables, accounts payable, short-term debt and long-term debt approximates their fair value because of their short-term nature and/or interest rates associated with the instruments. Investments are carried at their fair value based on quoted market prices for identical or similar assets or, where no quoted prices exist, other observable inputs for the asset. The fair values of foreign currency exchange contracts are based on quotations from various banks for similar instruments using models with market-based inputs.

Financial assets and liabilities are categorized based on the level of judgment associated with the inputs used to measure their fair value. The inputs used to measure the fair value are identified in the following hierarchy:

Level 1 -Unadjusted quoted prices in active markets for identical assets or liabilities.
Level 2 -Unadjusted quoted prices in active markets for similar assets or liabilities; or unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active; or inputs other than quoted prices that are observable for the asset or liability.
Level 3 -Unobservable inputs that reflect management’s best estimate of what market participants would use in pricing the asset or liability at the measurement date.
As indicated in the tables below, the Company has determined that all of its financial assets and liabilities as of December 31, 2025 and 2024 are Level 1 and Level 2 in the fair value hierarchy as defined above:

December 31, 2025
(in millions)Level 1Level 2Total
Financial assets:
Trading equity securities:
Deferred compensation programs' mutual funds$5.9 $— $5.9 
Preferred stocks0.3 — 0.3 
Equity funds0.6 — 0.6 
Trading debt securities:
Corporate bonds3.6 — 3.6 
Agency bonds— 0.9 0.9 
U.S. government securities2.4 — 2.4 
Asset-backed securities— 8.5 8.5 
Exchange traded funds0.4 — 0.4 
Mortgage backed securities— 0.3 0.3 
Other— 0.3 0.3 
Total financial assets$13.2 $10.0 $23.2 
Financial liabilities:
Deferred compensation programs' liabilities$— $6.7 $6.7 
Total financial liabilities$— $6.7 $6.7 

December 31, 2024
(in millions)Level 1Level 2Total
Financial assets:
Trading equity securities:
Deferred compensation programs' mutual funds$5.1 $— $5.1 
Preferred stocks0.3 — 0.3 
Equity funds0.6 — 0.6 
Trading debt securities:
Corporate bonds3.2 — 3.2 
Agency bonds— 1.5 1.5 
U.S. government securities2.4 — 2.4 
Asset-backed securities— 7.1 7.1 
Exchange traded funds0.8 — 0.8 
Mortgage backed securities— 0.4 0.4 
Other0.2 0.3 0.5 
Total financial assets$12.6 $9.3 $21.9 
Financial liabilities:
Deferred compensation programs' liabilities— 6.1 6.1 
Total financial liabilities$— $6.1 $6.1 
v3.25.4
Investments
 12 Months Ended
Dec. 31, 2025
Investments, Debt and Equity Securities [Abstract]  
Investments Investments
The Company's trading securities consist of the following:

December 31, 2025
(in millions)Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value (Net Carrying Amount)
Trading equity securities$5.9 $0.9 $— $6.8 
Trading debt securities16.4 0.1 0.1 16.4 
Total$22.3 $1.0 $0.1 $23.2 
December 31, 2024
(in millions)Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value (Net Carrying Amount)
Trading equity securities$5.5 $0.5 $— $6.0 
Trading debt securities16.3 — 0.4 15.9 
Total$21.8 $0.5 $0.4 $21.9 

Trading equity investments are valued at their estimated fair value based on their quoted market prices, and 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 from a nationally recognized third-party pricing service. Additionally, a significant portion of the trading equity securities are in mutual funds and also comprise a portion of the Company's liability under its DCP. See Note 14, Employee Benefit Plans, for additional information on these investments and the DCP.

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.
v3.25.4
Goodwill
 12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill Goodwill
The Company tests goodwill for impairment annually on October 1, 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 between annual impairment tests. During the second quarter of 2024, the Company identified that indicators of goodwill impairment were present due to macroeconomic conditions at the time, including declines in the Company's publicly quoted share price and increased interest rates, as well as lower than expected operating results. These factors indicated that one or more of the Company's reporting units may have fallen below their carrying amounts. Management elected to perform a qualitative assessment on all reporting units, and the Company concluded that a further quantitative analysis was required for the Materials Solutions reporting unit.

The Company determined the fair value of the Materials Solutions reporting unit using an equally weighted combination of the discounted cash flow method, a form of the income approach, and the guideline public company method, a form of the market approach. The significant assumptions used under the discounted cash flow method are projected net sales, projected earnings before interest, tax, depreciation and amortization ("EBITDA"), terminal growth rates and the cost of capital. Projected net sales, projected EBITDA and terminal growth rates were determined to be significant assumptions because they are primary drivers of the projected cash flows in the discounted cash flow fair value model. Cost of capital was also determined to be a significant assumption as it is the discount rate used to calculate the current fair value of those projected cash flows. The Company calculates the discount rate based on a market-participant, risk-adjusted weighted average cost of capital, which considers industry specific rates of return on debt and equity capital for a target industry capital structure, adjusted for risks associated with business size, geography and other factors specific to the reporting unit. A change in the discount rate, as a result of a change in economic conditions or otherwise, could result in the carrying value of the reporting unit exceeding its fair value. For the guideline public company method, significant assumptions relate to the selection of appropriate guideline companies and related valuation multiples used in the market analysis.

Based on the quantitative impairment test, the Company determined that the carrying value of the Materials Solutions reporting unit exceeded its fair value as of June 30, 2024. As a result, the Company recognized a pretax non-cash goodwill impairment charge of $20.2 million in "Goodwill impairment" in the Consolidated Statements of Operations to fully impair the goodwill allocated to the Materials Solutions reporting unit.

The Company completed the Acquisition during the third quarter of 2025, which increased goodwill $86.4 million.

Management performed a qualitative assessment for the annual tests of goodwill impairment performed on October 1, 2025, 2024 and 2023 and concluded that there was no impairment of goodwill.
The changes in the carrying amount of goodwill and accumulated impairment losses by reporting segment during the years ended December 31, 2025 and 2024 are as follows:

(in millions)Infrastructure SolutionsMaterials SolutionsTotal
Balance, December 31, 2023:
Goodwill$48.0 $32.3 $80.3 
Accumulated impairment(21.8)(12.2)(34.0)
Net$26.2 $20.1 $46.3 
2024 Activity:
Foreign currency translation$(1.2)$0.1 $(1.1)
Impairment— (20.2)(20.2)
Total 2024 activity
$(1.2)$(20.1)$(21.3)
Balance, December 31, 2024:
Goodwill$46.8 $32.2 $79.0 
Accumulated impairment(21.8)(32.2)(54.0)
Net$25.0 $— $25.0 
2025 Activity:
Foreign currency translation$0.7 $(0.3)$0.4 
Acquisitions— 86.4 86.4 
Total 2025 activity
$0.7 $86.1 $86.8 
Balance, December 31, 2025:
Goodwill$47.5 $119.3 $166.8 
Accumulated impairment(21.8)(33.2)(55.0)
Net$25.7 $86.1 $111.8 
v3.25.4
Intangible Assets
 12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets Intangible Assets
Intangible assets consisted of the following as of December 31, 2025 and 2024:

20252024
(in millions)Gross Carrying ValueAccumulated AmortizationNet Carrying ValueGross Carrying ValueAccumulated AmortizationNet Carrying Value
Dealer network and customer relationships$151.8 $44.5 $107.3 $41.4 $32.0 $9.4 
Trade names18.2 10.8 7.4 10.3 10.3 — 
Other24.6 14.8 9.8 14.8 13.0 1.8 
Total$194.6 $70.1 $124.5 $66.5 $55.3 $11.2 

Amortization expense on intangible assets was $13.6 million, $4.8 million and $5.5 million for 2025, 2024 and 2023, respectively.

Future annual expected amortization expense on intangible assets as of December 31, 2025 are as follows (in millions):

(in millions)
2026$23.8 
202721.6 
202819.2 
202915.4 
203012.9 
2031 and thereafter31.6 
v3.25.4
Property and Equipment
 12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
Property and Equipment Property and Equipment
Property and equipment at cost, less accumulated depreciation, is as follows:

December 31,
(in millions)20252024
Land$15.5 $12.3 
Building and land improvements173.9 158.8 
Construction in progress15.5 3.9 
Manufacturing and office equipment288.9 266.7 
Aviation equipment13.5 4.6 
Less accumulated depreciation(285.0)(264.4)
Total$222.3 $181.9 

Depreciation expense was $22.7 million, $22.0 million and $20.1 million for the years ended December 31, 2025, 2024 and 2023, respectively.
v3.25.4
Leases
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Leases Leases
The Company records its operating lease ROU assets in "Other long-term assets" and its operating lease liabilities in "Other current liabilities" and "Other long-term liabilities". As of December 31, 2025 and 2024, the Company did not have any finance leases.

Additional information related to the Company’s operating leases is reflected in the tables below:

Years Ended December 31,
(in millions)202520242023
Operating lease expense$4.5 $3.2 $3.6 
Short-term lease expense3.4 3.1 2.5 
Cash paid for operating leases included in operating cash flows4.5 3.2 3.6 

December 31,
(in millions)20252024
Operating lease right-of-use asset$14.9 $7.8 
Operating lease short-term liability5.4 2.6 
Operating lease long-term liability9.7 5.5 
Weighted average remaining lease term (in years)3.173.61
Weighted average discount rate used in calculating right-of-use asset5.58 %5.04 %

Future annual minimum lease payments as of December 31, 2025 are as follows (in millions):

(in millions)
2026$6.1
20275.6
20282.6
20291.4
20300.5
2031 and thereafter0.3
Total lease payments$16.5
Less: Interest(1.4)
Operating lease liabilities$15.1
v3.25.4
Debt
 12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Debt Debt
On July 1, 2025 (the "Financing Effective Date"), the Company entered into the 2025 Credit Agreement with Wells Fargo Bank, National Association, as administrative agent, and the lenders party thereto from time to time that provides for (i) a revolving credit facility, a term loan facility, a swingline facility and a letter of credit facility, in an initial aggregate amount of up to $600.0 million and (ii) an incremental facilities limit in an aggregate amount not to exceed $150.0 million (collectively, the "2025 Credit
Facilities"). Loans advanced under the revolving credit facility and the term loan facility must be repaid on (i) July 1, 2030 or (ii) earlier as specified in the 2025 Credit Agreement. On the Financing Effective Date, the Company used the proceeds from the term loan facility, together with cash on hand, to (i) finance the Acquisition, (ii) repay existing indebtedness of the Company and its subsidiaries, including repayment of all amounts outstanding under the previous 2022 Credit Facilities, and (iii) the payment of transaction expenses incurred in connection with the Acquisition and the 2025 Credit Facilities.

At the Company’s election, revolving credit loans and term loans advanced under the 2025 Credit Agreement bear interest at a rate per annum equal to (i) a forward-looking term rate based on the secured overnight financing rate for the applicable interest period ("Term SOFR"), as selected by the Company, plus an applicable margin ranging between 1.75% and 2.75% per annum, or (ii) the highest of the Wells Fargo Bank, National Association prime rate, the Federal Funds rate plus 0.50%, and Term SOFR for a one month tenor in effect on such day plus 1.00% (“Base Rate”), plus an applicable margin ranging between 0.75% and 1.75% per annum. Swingline loans shall bear interest at the Base Rate, plus an applicable margin ranging between 0.75% and 1.75% per annum.

The Company also pays a commitment fee ranging from 0.15% to 0.35% per annum to the lenders under the revolving credit facility on the average amount by which the aggregate commitments of the lenders exceed utilization of the revolving credit facility. The applicable margins and the commitment fee are determined based on the Company's Consolidated Total Net Leverage Ratio (as defined in the 2025 Credit Agreement) at the relevant time.

The obligations of the Company in respect of the 2025 Credit Facilities are secured and are guaranteed by the U.S. domestic subsidiaries of the Company, subject to customary exceptions.

The 2025 Credit Agreement includes certain affirmative and negative covenants that impose restrictions on the Company's financial and business operations, including limitations on liens, indebtedness, fundamental changes and changes in the nature of the Company's business. These limitations are subject to customary exceptions. The Company will also be required to maintain a (i) Consolidated Total Net Leverage Ratio of not more than 3.50 to 1.00 as of the last day of any fiscal quarter, which may be increased to 4.00 to 1.00 in connection with a material permitted acquisition and subject to the terms of the 2025 Credit Agreement, and (ii) Consolidated Interest Coverage Ratio (as defined in the 2025 Credit Agreement) of at least 2.50 to 1.00 as of the last day of any fiscal quarter. The 2025 Credit Agreement also contains customary representations and warranties.

The 2025 Credit Agreement contains events of default customary for this type of financing, including a cross default and cross acceleration provision to certain other material indebtedness of the Company and its subsidiaries. Upon the occurrence of an event of default, the outstanding obligations under the 2025 Credit Agreement may be accelerated and become due and payable immediately. In addition, if certain change of control events occur with respect to the Company, the Company will be required to repay the loans outstanding under the 2025 Credit Facilities.

Additional details for the 2025 Credit Facilities and the previous 2022 Credit Facilities are summarized below:

December 31, 2025December 31, 2024
(in millions, except maturity date)2025 Credit Facilities2022 Credit Facilities
Revolving Line of Credit
Line of credit - maximum$250.0 $250.0 
Letters of credit - maximum30.0 30.0 
Borrowings outstanding— 105.0 
Amount of letters of credit outstanding5.3 5.2 
Line of credit, additional borrowing capacity244.7 139.8 
Unamortized debt issuance costs
"Prepaid expenses and other assets"
0.9 0.3 
"Other long-term assets"
3.0 0.6 
Term Loan
Current maturities$17.5 
Long-term maturities323.8 
Maturity dateJuly 1, 2030
Unamortized debt issuance costs
"Current maturities of long-term debt"
1.3 
"Long-term debt"
4.2 
Debt maturities for the Company's long-term debt are expected to be as follows:

(in millions)Maturity Amounts
2026$17.5
202721.9
202830.6
202935.0
2030236.3

Additionally, certain of the Company's international subsidiaries in Australia, Brazil, Canada, South Africa and the United Kingdom each have separate credit facilities with local financial institutions primarily to finance short-term working capital needs, as well as to cover foreign exchange contracts, performance letters of credit, advance payment and retention guarantees. In addition, the Brazilian subsidiary also enters into order anticipation agreements on a periodic basis. Both the outstanding borrowings under the credit facilities of the international subsidiaries and the order anticipation agreements are recorded in "Short-term debt" in the Company's Consolidated Balance Sheets. Each of the credit facilities are generally guaranteed by Astec Industries, Inc. and/or secured with certain assets of the local subsidiary.

Details for the Company's international credit facilities are summarized below:

(in millions, except interest rates)December 31, 2025December 31, 2024
Total credit line$23.4 $23.4 
Available credit line11.4 9.5 
Letters of credit - maximum13.5 12.7 
Amount of letters of credit outstanding3.0 2.9 
Short-term debt12.1 13.3 
Weighted average interest rate
10.62%
9.02%
v3.25.4
Product Warranty Reserves
 12 Months Ended
Dec. 31, 2025
Product Warranties Disclosures [Abstract]  
Product Warranty Reserves Product Warranty Reserves
The Company warrants its products against manufacturing defects and performance to specified standards. The warranty period and performance standards vary by market and uses of its products, but generally range from three months to two years or up to a specified number of hours of operation. The Company estimates the costs that may be incurred under its warranties and records a liability at the time product sales are recorded. The product warranty liability is primarily based on historical claim rates, nature of claims and the associated costs.

Changes in the Company's product warranty liability during 2025, 2024 and 2023 are as follows:

(in millions)202520242023
Reserve balance, January 1$16.1 $16.5 $11.9 
Warranty liabilities accrued23.9 18.6 17.6 
Warranty liabilities settled(21.8)(18.9)(13.1)
Other1.1 (0.1)0.1 
Reserve balance, December 31$19.3 $16.1 $16.5 
v3.25.4
Accrued Loss Reserves
 12 Months Ended
Dec. 31, 2025
Accrued Loss Reserves [Abstract]  
Accrued Loss Reserves Accrued Loss Reserves
The Company accrues 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.

Liabilities related to the Company's accrued loss reserves consist of the following:

(in millions)December 31, 2025December 31, 2024
"Other current liabilities"
$1.8 $1.7 
"Other long-term liabilities"
5.1 4.6 
Total accrued loss reserves$6.9 $6.3 
v3.25.4
Employee Benefit Plans
 12 Months Ended
Dec. 31, 2025
Retirement Benefits [Abstract]  
Employee Benefit Plans Employee Benefit Plans
Deferred Compensation Programs

The Company's DCP includes a non-qualified SERP and a separate non-qualified Deferred Compensation Plan.

Supplemental Executive Retirement Plan

The Company maintains a SERP for certain of its executive management. The SERP has been closed to new entrants since December 2020. This plan is a non-qualified deferred compensation plan administered by the Board of Directors of the Company, pursuant to which the Company makes cash contributions of a certain percentage of participants' compensation. Investments are self-directed by participants and can include Company stock. Upon retirement or termination, participants receive their apportioned share of the plan assets in the form of cash based on a pre-determined schedule of distributions.

Deferred Compensation Plan

The Company maintains a Deferred Compensation Plan for certain of its executive and senior management. This plan is a non-qualified deferred compensation plan administered by the Board of Directors of the Company, pursuant to which eligible employees can defer the receipt of base and bonus compensation to a future date. Investments are self-directed by participants and can include Company stock. Upon retirement or termination, participants receive their apportioned share of the plan assets in the form of cash based on a pre-determined schedule of distributions.

Assets of the Deferred Compensation Programs consist of the following:

December 31, 2025December 31, 2024
(in millions)CostMarketCostMarket
Money market fund$0.7 $0.7 $0.7 $0.7 
Company stock0.2 0.1 0.3 0.3 
Equity securities5.0 5.9 4.6 5.1 
Total$5.9 $6.7 $5.6 $6.1 

The Company records an adjustment to the deferred compensation liability related to the DCP such that the balance of the liability equals the total fair market value of all assets held by the trusts established under the programs each period. Such liabilities are included in "Other long-term liabilities" in the Consolidated Balance Sheets. The money market fund is included in "Cash, cash equivalents and restricted cash" in the Consolidated Balance Sheets. The equity securities are included in "Investments" in the Consolidated Balance Sheets and classified as trading equity securities. See Note 6, Investments, for additional information. The cost of the Company stock held by the plan is included in "Company stock held by deferred compensation programs, at cost" in the Consolidated Balance Sheets.

The change in the fair market value of Company stock held in the programs results in a charge or credit to "Selling, general and administrative expenses" in the Consolidated Statements of Operations because the acquisition cost of the Company stock in the programs is recorded in "Company stock held by deferred compensation programs, at cost" and is not adjusted to fair market value; however, the related liability is adjusted to the fair market value of the stock as of each period end. The Company recognized expense of $0.1 million in 2025 and income of $0.1 million in both 2024 and 2023 related to the change in the fair value of the Company stock held in the DCP.

401(k) Plan

The Company sponsors a 401(k) defined contribution plan to provide eligible employees with additional income upon retirement. The Company's contributions to the plan are based on employee contributions. The Company's contributions totaled $10.3 million, $10.1 million and $8.1 million in 2025, 2024 and 2023, respectively.
v3.25.4
Income Taxes
 12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
The income tax disclosures that follow are inclusive of the requirements set forth in ASU 2023-09, Income Taxes (Topic 740), which the Company adopted on a prospective basis.

For financial reporting purposes, income before income taxes includes the following components:

Years Ended December 31,
(in millions)202520242023
United States$63.7 $25.9 $36.4 
Foreign(10.6)(12.0)6.4 
Income before income taxes$53.1 $13.9 $42.8 

The provision for income taxes consists of the following:

Years Ended December 31,
(in millions)202520242023
Current provision:
Federal$7.8 $13.3 $8.2 
State2.5 0.9 4.5 
Foreign3.6 2.6 2.8 
Total current provision
13.9 16.8 15.5 
Deferred provision (benefit):
Federal3.6 (8.2)(3.6)
State— 0.8 (2.8)
Foreign(3.2)0.4 — 
Total deferred provision (benefit)
0.4 (7.0)(6.4)
Total provision:
Federal11.4 5.1 4.6 
State2.5 1.7 1.7 
Foreign0.4 3.0 2.8 
Total income tax provision
$14.3 $9.8 $9.1 

The Company's "Income tax provision" is computed based on the domestic and foreign federal statutory rates and the average state statutory rates, net of related federal benefit.
The provision for income taxes differs from the amount computed by applying the statutory federal income tax rate to income before income taxes. The reconciliation of the provision for income taxes at the statutory federal income tax rate to the amount provided for the year ended December 31, 2025 is as follows:

(in millions, except percentage data)Year Ended December 31, 2025
Tax expense at the statutory federal income tax rate$11.2 21.0 %
State and local income tax, net of federal income tax effect (1)
2.0 3.8 %
Foreign tax effects
Brazil
Change in valuation allowances(1.2)(2.3)%
Other1.3 2.4 %
United Kingdom
Change in valuation allowances2.5 4.7 %
Other(0.1)(0.2)%
Other foreign jurisdictions0.1 0.2 %
Effect of cross-border tax laws
Foreign-derived intangible income(1.0)(1.9)%
Other(0.2)(0.4)%
Research and development tax credits(3.7)(7.0)%
Changes in valuation allowances0.3 0.6 %
Nontaxable or nondeductible items1.5 2.8 %
Changes in unrecognized tax benefits1.2 2.3 %
Other items (2)
0.4 0.9 %
Total income tax provision$14.3 26.9 %
(1) State taxes in Tennessee, Illinois, California, Pennsylvania, Maine, Michigan and New York made up the majority (greater than 50 percent) of the tax effect in this category.
(2) Calculation includes the impact of a rounding adjustment.

The reconciliations of the provision for income taxes at the statutory federal income tax rate to the amount provided for the years ended December 31, 2024 and 2023 is as follows:

Years Ended December 31,
(in millions)20242023
Tax expense at the statutory federal income tax rate$2.9 $8.9 
State income tax, net of federal income tax3.9 0.4 
Research and development tax credits(2.8)(2.8)
Impact of uncertain tax positions(0.5)1.0 
Valuation allowance impact1.7 0.3 
Changes in tax rates0.7 0.8 
Share-based compensation0.1 0.6 
Foreign-derived intangible income deduction(0.4)(0.7)
Foreign tax credit(0.4)(0.5)
Goodwill impairment2.9 — 
Other items1.7 1.1 
Total income tax provision$9.8 $9.1 
Total cash paid for income taxes, net of refunds, disaggregated by jurisdiction for the year ended December 31, 2025 consists of the following:

(in millions)
Federal$12.1 
State4.9 
Foreign
Brazil1.1 
South Africa1.0 
Other foreign jurisdictions0.6 
Total cash paid for taxes$19.7 

Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company's deferred tax assets and liabilities are as follows:

December 31,
(in millions)20252024
Deferred tax assets:
Amortization of research and experimental expenditures$21.9 $30.7 
Inventory reserves9.1 7.6 
Warranty reserves4.6 3.7 
Credit loss reserves0.9 0.5 
State tax loss carryforwards13.2 11.5 
Accrued vacation1.9 1.4 
Deferred compensation1.0 1.0 
Share-based compensation2.1 1.3 
Goodwill0.4 2.8 
Foreign net operating loss11.0 8.3 
Lease obligation3.4 1.6 
Employee & insurance accruals3.1 3.1 
Domestic credit carryforwards4.1 1.5 
Uncertain tax provision reserve1.2 1.1 
Deferred revenue0.5 0.9 
Valuation allowances(17.1)(12.4)
Other2.5 — 
Total deferred tax assets63.8 64.6 
Deferred tax liabilities:
Property and equipment17.3 15.8 
Intangibles23.6 0.9 
Right-of-use assets3.4 1.5 
Post-retirement benefits0.9 0.8 
Other— 2.2 
Total deferred tax liabilities45.2 21.2 
Total net deferred assets$18.6 $43.4 

As of December 31, 2025, the Company had gross state net operating losses ("NOL") carryforwards of $260.0 million and gross foreign NOL carryforwards of approximately $40.2 million, which are available to offset future taxable income. If not used, these carryforwards will expire between 2026 and 2035. The Company does not have a federal net operating loss carryforward.

A significant portion of the valuation allowance for deferred tax assets relates to the future utilization of state and foreign NOL and state tax credit carryforwards. Future utilization of these NOL and state tax credit carryforwards is evaluated by the Company on a periodic basis, and the valuation allowance is adjusted accordingly. In 2025, the valuation allowance on these carryforwards increased by $4.7 million, primarily related to valuation allowances on the deferred tax assets related to NOLs generated by the Company's Brazil and United Kingdom subsidiaries.
The following table represents a rollforward of the deferred tax asset valuation allowance for the years ended December 31, 2025, 2024 and 2023:

Years Ended December 31,
(in millions)202520242023
Allowance balance, beginning of year$12.4 $12.5 $11.9 
Provision2.1 1.3 1.8 
Reversals(1.2)(1.5)(1.6)
Other3.8 0.1 0.4 
Allowance balance, end of year$17.1 $12.4 $12.5 

Undistributed foreign earnings are considered to be indefinitely reinvested outside the U.S. as of December 31, 2025. Because those earnings are considered to be indefinitely reinvested, no deferred income taxes have been provided thereon. If the Company were to make a distribution of any portion of those earnings in the form of dividends or otherwise, any such amounts would be subject to withholding taxes payable to various foreign jurisdictions; however, the amounts would not be subject to any additional U.S. income tax. As of December 31, 2025, the cumulative amount of undistributed U.S. GAAP earnings for the Company's foreign subsidiaries was $70.6 million.

The Company files income tax returns in the U.S. federal jurisdiction and in various state and foreign jurisdictions. The Company is currently under examination for the years 2013, 2014, 2016, 2017, 2018 and 2019 with taxing authorities in the United States. The Company is no longer subject to U.S. federal income tax examinations by authorities for years prior to 2013. With few exceptions, the Company is no longer subject to state and local or non-U.S. income tax examinations by authorities for years prior to 2021.

The Company has a liability for unrecognized tax benefits of $14.1 million and $16.8 million (excluding accrued interest and penalties) as of December 31, 2025 and 2024, respectively. The Company recognizes interest and penalties accrued related to unrecognized tax benefits in "Interest expense" and "Selling, general and administrative expenses", respectively, in the Consolidated Statements of Operations. The Company did not recognize any tax benefits for interest and penalties related to amounts that were settled for less than previously accrued in 2025 or 2024. The net amount of unrecognized tax benefits that, if recognized, would affect the Company’s effective tax rate was $18.9 million as of December 31, 2025, of which $11.5 million and $7.4 million were included in "Other current liabilities" and "Other long-term liabilities", respectively, in the Consolidated Balance Sheets. The net amount of these unrecognized tax benefits was $15.1 million as of December 31, 2024 of which $10.7 million and $9.5 million were included in "Other current liabilities" and "Other long-term liabilities", respectively, partially offset by $5.1 million included in "Deferred income tax assets" in the Consolidated Balance Sheets. Management believes it is reasonably possible that unrecognized tax liabilities will decrease by approximately $11.0 million within the next 12 months.

A reconciliation of the beginning and ending unrecognized tax benefits excluding interest and penalties is as follows:

Years Ended December 31,
(in millions)202520242023
Balance, beginning of year$16.8 $13.0 $12.0 
Additions for tax positions taken in current year1.1 5.2 0.9 
Additions for tax positions taken in prior period0.5 — 0.1 
Reductions due to lapse of statutes of limitations(4.3)(1.4)— 
Balance, end of year$14.1 $16.8 $13.0 

Jurisdictions in which the Company operates have enacted local legislation formally adopting the Global Anti-Base Erosion Model Rules ("Pillar Two"), which generally provide for a global minimum corporate tax rate of 15%, as established by the Organization for Economic Co-operation and Development ("OECD") Pillar Two Framework. The effective dates are generally January 1, 2024, and January 1, 2025, for different aspects of the rules and vary by jurisdiction. Pillar Two has not had a material impact on the Company's effective tax rate, consolidated results of operations, financial position or cash flows.

Additional jurisdictions are expected to implement the model rules under local law in the future, with varying effective dates. The Company is continuing to evaluate the potential effect on future periods of the Pillar Two implementation, pending legislative adoption by additional individual countries and the ongoing issuance of additional administrative guidance by the OECD.

On July 4, 2025, the One Big Beautiful Bill Act (the "OBBBA") was enacted into law in the United States. The OBBBA extends or makes permanent many expiring provisions of the 2017 Tax Cuts and Jobs Act and restores favorable tax treatment for certain business provisions. The effects of changes in tax laws are required to be recognized in the period in which the legislation is enacted. As such, the OBBBA had no significant impact on the Company's income tax rate as of December 31, 2025.
v3.25.4
Commitments and Contingencies
 12 Months Ended
Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
Certain customers have financed purchases of Company products through arrangements with third-party financing institutions in which the Company is contingently liable for customer debt of $0.6 million and $1.4 million as of December 31, 2025 and 2024, respectively. These arrangements expire at various dates through March 2030. The agreements provide that the Company will receive the lender's full security interest in the equipment financed if the Company is required to fulfill its contingent liability under these arrangements. The Company has recorded a liability of $0.1 million and $0.3 million related to these guarantees, which were included in "Other current liabilities" in the Consolidated Balance Sheets as of December 31, 2025 and 2024, respectively.

The Company reviews off-balance sheet guarantees individually. Prior history is considered with respect to the Company having to perform on any off-balance sheet guarantees, as well as future projections of individual customer credit worthiness with respect to assessing credit losses related to off-balance sheet guarantees.

In addition, the Company is contingently liable for letters of credit issued under its 2025 Credit Facilities totaling $5.3 million as of December 31, 2025. The outstanding letters of credit expire at various dates through November 2026. Unused letters of credit under the Credit Facilities are $24.7 million as of December 31, 2025. The Company is additionally contingently liable for a total of $4.1 million in performance letters of credit and retention guarantees primarily held by its foreign subsidiaries, which are secured by separate credit facilities with various financial institutions as of December 31, 2025. Unused letters of credit under these separate credit facilities are $10.5 million as of December 31, 2025.

The Company is currently a party, and may become a party, to various claims and legal proceedings in the ordinary course of business. If management believes that a loss arising from any claims and legal proceedings is probable and can reasonably be estimated, the Company records the amount of the loss (excluding estimated legal fees) or, when the loss is estimated using a range and no point within the range is more probable than another, the minimum estimated liability. As management becomes aware of additional information concerning such contingencies, any potential liability related to these matters is assessed, and the estimates are revised, if necessary. If management believes that a loss arising from such claims and legal proceedings is either (i) probable but cannot be reasonably estimated or (ii) reasonably estimable but not probable, the Company does not record the amount of the loss but does make specific disclosure of such matter.

Based upon currently available information and with the advice of counsel, management believes that the ultimate outcome of its current claims and legal proceedings, individually and in the aggregate, will not have a material adverse effect on the Company's financial position, cash flows or results of operations. However, claims and legal proceedings are subject to inherent uncertainties, and rulings unfavorable to the Company could occur. If an unfavorable ruling were to occur, there exists the possibility of a material adverse effect on the Company's financial position, cash flows or results of operations.

Previously Settled Matters

The Company and certain of its former executive officers were previously named as defendants in a putative shareholder class action lawsuit filed in 2019. In September 2024, the court formally approved the parties' agreement to settle the action for $13.7 million, which was funded entirely by the Company's insurance carriers, and the settlement agreement was entered into between the parties.

In September 2024, the Company reached an agreement to resolve the matter styled 37 Building Products, Ltd. v. Telsmith, Inc., et al. for $6.3 million, which the Company paid that same month. Upon settlement, the full loss contingency of $8.2 million, inclusive of post-judgment interest, which was recorded as of June 30, 2024 was released. The $1.9 million net benefit derived from the loss contingency release offset by the final settlement amount was recorded in Selling, general and administrative expenses in the Consolidated Statements of Operations during the third quarter of 2024.

In October 2024, the Company reached an agreement to resolve the action styled VenVer S.A. and Americas Coil Tubing LLP v. GEFCO, Inc. for $8.4 million, which was paid in the fourth quarter of 2024. In connection with this settlement, management recorded a loss in "Restructuring, impairment and other asset (gains) charges, net" in the Consolidated Statements of Operations during the third quarter of 2024.
v3.25.4
Share-Based Compensation
 12 Months Ended
Dec. 31, 2025
Stockholders' Equity Note [Abstract]  
Share-Based Compensation Share-Based Compensation
Prior to its termination on April 24, 2025, the Company's 2021 Equity Incentive Plan ("2021 Plan") provided for the grant of share-based awards. The 2021 Plan authorized the grant of options, share appreciation rights, restricted stock, restricted stock units, deferred stock units, performance awards, dividend equivalents and other share-based and cash awards. Under the 2021 Plan, the Company had restricted stock units, performance stock units and deferred stock units. Awards granted under the 2021 Plan provide for dividend equivalents, which are subject to the same forfeiture, transfer restrictions and deferral terms as apply to the award to which they relate.

On April 25, 2025 ("Plan Effective Date"), the Company's shareholders approved the 2025 Equity Incentive Plan ("2025 Plan"), which is administered by the Company's Compensation Committee of the Board of Directors (the "Compensation Committee"). The 2025 Plan provides for a total of 1,309,500 shares to be reserved and available for issuance pursuant to the grant of new
awards under the 2025 Plan. To the extent that all or a portion of an award is canceled, terminates, expires, is forfeited or lapses for any reason (including by reason of failure to meet time-based and/or performance-based vesting requirements), any unissued or forfeited shares originally subject to the award will be added back to the 2025 Plan share reserve and again be available for issuance pursuant to awards granted under the 2025 Plan. The 2025 Plan authorizes the grant of options, share appreciation rights, restricted stock, restricted stock units, deferred stock units, performance awards, dividend equivalents and other share-based and cash awards. Awards granted under the 2025 Plan provide for dividend equivalents, which are subject to the same forfeiture, transfer restrictions and deferral terms as apply to the award to which they relate.

Share-based compensation expense of $7.1 million, $5.0 million and $4.1 million was recorded in the years ended December 31, 2025, 2024 and 2023, respectively, and recognized in "Selling, general and administrative expenses" in the Consolidated Statements of Operations.

Restricted Stock Units ("RSUs")

Key members of management are awarded with RSUs each year based on a predetermined award value of the base salary of eligible employees aligned to a total compensation program. RSU awards generally vest ratably, at the end of each 12-month period, over a three-year service period. A participant generally must be employed by the Company on the vesting date of each award; however, awards will vest if employment terminates earlier on account of a qualifying employment termination event such as death, disability or retirement at or above age 65. Additional RSUs are granted on an annual basis to the Company's outside directors generally with a one-year vesting period.

Changes in restricted stock units during the year ended December 31, 2025 are as follows:

(in thousands, except weighted average grant date fair value)Restricted Stock UnitsWeighted Average Grant Date Fair Value
Unvested as of January 1, 2025170 $39.58 
Granted237 $37.34 
Vested(87)$41.47 
Forfeited(11)$35.90 
Unvested as of December 31, 2025309 $37.45 

The following additional activity occurred for the Company's restricted stock units:

Years Ended December 31,
(in millions, except weighted average grant date fair value per award granted)202520242023
Weighted average grant date fair value per award$37.34 $36.76 $43.50 
Fair value of awards vested and issued3.1 2.9 4.8 
Tax expense for restricted stock compensation expense(0.7)(0.7)(0.4)

As of December 31, 2025, the Company had $7.0 million of unrecognized compensation expense before tax related to RSUs, which is expected to be recognized over a weighted average period of 1.6 years.

Performance Stock Units ("PSUs")

PSUs are granted to officers and other key employees. Vesting is subject to both the continued employment of the participant with the Company and the achievement of certain performance metrics established by the Compensation Committee. A participant generally must be employed by the Company on the vesting date of each award; however, a portion of a participant's awards will vest if employment terminates earlier on account of a qualifying employment termination event such as death, disability or retirement at or above age 65.

Awards granted generally cliff vest three years from the date of grant. The number of PSUs that vest may range from zero to 200% of the target shares granted and is determined for each award based on the achievement of two equally weighted performance criteria: ROIC and TSR. The PSUs are settled in common stock of the Company, with holders receiving one common share for each PSU that vests.
Changes in PSUs during the year ended December 31, 2025 are as follows:

(in thousands, except weighted average grant date fair value)Performance Stock UnitsWeighted Average Grant Date Fair Value
Unvested as of January 1, 2025151 $41.56 
Granted135 $33.16 
Vested (1)
(22)$51.63 
Forfeited(14)$37.94 
Unvested as of December 31, 2025250 $36.36 
(1) The vested PSUs presented are based on the target amount of the award. In accordance with the terms of the underlying award agreements, no shares were earned and distributed for the performance period ended during 2025.

The following additional activity occurred for the Company's performance stock units:

Years Ended December 31,
(in millions, except weighted average grant date fair value per award granted)202520242023
Weighted average grant date fair value per award$33.16 $36.62 $43.19 
Fair value of awards vested and issued (2)
— — 1.6 
Tax expense for performance stock compensation expense— — (1.0)
(2) As noted above, in accordance with the terms of the underlying PSU award agreements, no shares were earned and distributed for the performance period ended during 2025.

As of December 31, 2025, the Company had $3.6 million of unrecognized compensation expense before tax related to PSUs, which is expected to be recognized over a weighted average period of 1.9 years.

Deferred Stock Units ("DSUs")

The Non-Employee Directors Compensation Plan allows for deferred delivery of shares granted as payment of directors' annual retainer. As of December 31, 2025, there were 19,051 fully vested deferred stock units, which were excluded from the tables above. The aggregate fair value of these units as of December 31, 2025 was $0.8 million.

The 2025 Plan and the 2021 Plan allow for certain participants to elect to receive vested units on a deferred basis. As of December 31, 2025, there were 1,426 fully vested deferred stock units, which are excluded from the unvested balances as of December 31, 2025 in the tables above. The aggregate fair value of these units as of December 31, 2025 was $0.1 million.
v3.25.4
Revenue Recognition
 12 Months Ended
Dec. 31, 2025
Revenue from Contract with Customer [Abstract]  
Revenue Recognition Revenue Recognition
The following tables disaggregate the Company's revenue by major source for the periods ended December 31, 2025, 2024 and 2023 (excluding intercompany sales):

For the Year Ended December 31, 2025
(in millions)Infrastructure SolutionsMaterials SolutionsTotal
Net Sales-Domestic:
Equipment sales$510.7 $209.4 $720.1 
Parts and component sales231.0 112.2 343.2 
Service and equipment installation revenue28.3 7.2 35.5 
Used equipment sales2.3 0.2 2.5 
Freight revenue25.7 7.0 32.7 
Other2.5 (6.3)(3.8)
Total domestic revenue800.5 329.7 1,130.2 
Net Sales-International:
Equipment sales39.2 133.4 172.6 
Parts and component sales15.7 73.8 89.5 
Service and equipment installation revenue0.8 12.9 13.7 
Used equipment sales— 0.2 0.2 
Freight revenue1.1 2.9 4.0 
Other0.1 0.1 0.2 
Total international revenue56.9 223.3 280.2 
Total net sales$857.4 $553.0 $1,410.4 

For the Year Ended December 31, 2024
(in millions)Infrastructure SolutionsMaterials SolutionsTotal
Net Sales-Domestic:
Equipment sales$510.9 $150.3 $661.2 
Parts and component sales220.3 80.8 301.1 
Service and equipment installation revenue23.5 0.8 24.3 
Used equipment sales3.4 — 3.4 
Freight revenue22.7 6.6 29.3 
Other2.3 (6.2)(3.9)
Total domestic revenue783.1 232.3 1,015.4 
Net Sales-International:
Equipment sales32.7 154.2 186.9 
Parts and component sales19.7 67.4 87.1 
Service and equipment installation revenue0.9 11.2 12.1 
Used equipment sales— 0.4 0.4 
Freight revenue0.9 2.5 3.4 
Other0.1 (0.3)(0.2)
Total international revenue54.3 235.4 289.7 
Total net sales$837.4 $467.7 $1,305.1 
For the Year Ended December 31, 2023
(in millions)Infrastructure SolutionsMaterials SolutionsTotal
Net Sales-Domestic:
Equipment sales$461.2 $252.5 $713.7 
Parts and component sales215.9 83.7 299.6 
Service and equipment installation revenue43.5 0.8 44.3 
Used equipment sales3.6 — 3.6 
Freight revenue22.6 8.0 30.6 
Other1.9 (10.3)(8.4)
Total domestic revenue748.7 334.7 1,083.4 
Net Sales-International:
Equipment sales30.5 125.7 156.2 
Parts and component sales18.7 62.4 81.1 
Service and equipment installation revenue1.3 11.9 13.2 
Used equipment sales— 0.2 0.2 
Freight revenue1.0 2.8 3.8 
Other0.2 0.1 0.3 
Total international revenue51.7 203.1 254.8 
Total net sales$800.4 $537.8 $1,338.2 

As of December 31, 2025, the Company had contract assets of $5.9 million and contract liabilities, excluding customer deposits, of $7.7 million, of which $1.4 million was deferred revenue related to extended warranties. As of December 31, 2024, the Company had contract assets of $6.6 million and contract liabilities, excluding customer deposits, of $5.8 million, of which $1.3 million was deferred revenue related to extended warranties. Total extended warranty sales were $1.0 million, $1.3 million and $1.1 million in 2025, 2024 and 2023, respectively.
v3.25.4
Operations by Industry Segment and Geographic Area
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Operations by Industry Segment and Geographic Area Operations by Industry Segment and Geographic Area
The Company has two operating and reportable segments, each of which comprise sites based upon the nature of the products produced or services provided, the type of customer for the products, the similarity of economic characteristics, the manner in which management reviews results and the nature of the production process, among other considerations.

Segment Operating Adjusted EBITDA is the measure of segment profit or loss used by the Company's Chief Executive Officer ("CEO"), who is the CODM, to evaluate performance and allocate resources to the reportable segments. The CODM uses this measure to allocate resources, including headcount, financial resources and capital resources, for each segment, predominantly in the annual budgeting process. Additionally, Segment Operating Adjusted EBITDA is believed to strongly correlate with shareholder returns and is, therefore, included as a key component in the compensation of certain employees. This metric is used to monitor actual results versus budget and forecast on a monthly basis to assess segment performance as compared to expectations. Segment Operating Adjusted EBITDA is defined as net income or loss before the impact of interest income or expense, income taxes, depreciation and amortization and certain other adjustments that are not considered by the CODM in the evaluation of ongoing operating performance.

A brief description of each segment is as follows:

Infrastructure Solutions - Sites within the Infrastructure Solutions segment design, engineer, manufacture and market a complete line of asphalt plants, concrete plants and their related components and ancillary equipment, including industrial automation controls and telematics platforms, as well as supply asphalt road construction equipment, industrial thermal systems, land clearing, recycling and other heavy equipment. The sites based in North America within the Infrastructure Solutions segment are primarily manufacturing operations, while those located outside of North America generally service and install equipment and provide parts in the regions in which they operate for many of the products produced by all of the Company's manufacturing sites. The primary purchasers of the products produced by this segment are asphalt and concrete producers, highway and heavy equipment contractors, commercial and residential paving contractors, utility contractors, forestry and environmental recycling contractors and domestic and foreign governmental agencies.

Materials Solutions - Sites within the Materials Solutions segment design and manufacture heavy equipment used in aggregate and minerals processing operations in addition to servicing, rebuilding and supplying parts. These operations support civil construction, energy, mining, hydro, recycling, ports, forestry and bulk handling markets. The sites within the Materials Solutions segment are primarily manufacturing operations, with sites in Australia, Canada, Chile, Sweden and Thailand functioning to market, service and install equipment and provide parts in the regions in which they operate for many of the products produced
by all the Company's manufacturing sites. Additionally, the Materials Solutions segment offers consulting and engineering services to provide complete "turnkey" processing systems. The principal purchasers of aggregate processing equipment include distributors, highway and heavy equipment contractors, sand and gravel producers, demolition, recycling and crushing contractors, open mine operators, quarry operators, port and inland terminal authorities, power stations and foreign and domestic governmental agencies. The acquired TerraSource business is included in the Material Solutions segment.

Segment Information: The accounting policies of the reportable segments are the same as those described in Note 2, Basis of Presentation and Significant Accounting Policies. Intersegment sales and transfers between foreign subsidiaries are valued at prices comparable to those for unrelated parties.

Information for the Company's reportable segments are set forth below:

Year Ended December 31, 2025
(in millions)Infrastructure SolutionsMaterials SolutionsTotal
Reportable segment revenues:
Revenues from external customers$857.4 $553.0 $1,410.4 
Intersegment revenues36.0 4.9 40.9 
Total revenues - reportable segments$893.4 $557.9 $1,451.3 
Significant reportable segment expenses:
Manufacturing operation costs:
Equipment$381.4 $246.5 $627.9 
Parts120.1 97.8 217.9 
Other100.9 56.2 157.1 
General and administrative55.3 42.5 97.8 
Sales and marketing44.3 34.4 78.7 
Quality costs (1)
23.2 10.7 33.9 
Research and development17.4 9.5 26.9 
Inventory period costs (2)
17.4 5.8 23.2 
Other segment items (3)
(0.9)(1.1)(2.0)
Reportable Segment Operating Adjusted EBITDA$134.3 $55.6 $189.9 
Reportable segment assets and capital expenditures:
Assets$1,210.4 $1,147.7 $2,358.1 
Capital expenditures25.1 6.1 31.2 
(1) Quality costs related to repair or other remediation expenses incurred for corrective action on product failures covered by warranties or voluntarily for certain warranty-type expenses occurring after the normal warranty period expires to help protect the reputation of the Company's products and maintain the goodwill of customers.
(2) Inventory period costs primarily relate to inventory reserves and adjustments and net scrap sales.
(3) Other segment items consists of foreign exchange gains and losses, investment income and loss and other income and expense amounts that are included in Segment Operating Adjusted EBITDA that are not considered to be significant segment expenses.
Year Ended December 31, 2024
(in millions)Infrastructure SolutionsMaterials SolutionsTotal
Reportable segment revenues:
Revenues from external customers$837.4 $467.7 $1,305.1 
Intersegment revenues48.3 7.0 55.3 
Total revenues - reportable segments$885.7 $474.7 $1,360.4 
Significant reportable segment expenses:
Manufacturing operation costs:
Equipment$397.8 $231.0 $628.8 
Parts121.5 80.7 202.2 
Other104.8 41.0 145.8 
General and administrative52.4 28.0 80.4 
Sales and marketing44.3 28.1 72.4 
Quality costs (1)
17.3 12.3 29.6 
Research and development16.1 7.7 23.8 
Inventory period costs (2)
10.3 7.8 18.1 
Other segment items (3)
(0.3)0.9 0.6 
Reportable Segment Operating Adjusted EBITDA$121.5 $37.2 $158.7 
Reportable segment assets and capital expenditures:
Assets$1,095.8 $772.3 $1,868.1 
Capital expenditures15.0 5.2 20.2 
(1) Quality costs related to repair or other remediation expenses incurred for corrective action on product failures covered by warranties or voluntarily for certain warranty-type expenses occurring after the normal warranty period expires to help protect the reputation of the Company's products and maintain the goodwill of customers.
(2) Inventory period costs primarily relate to inventory reserves and adjustments and net scrap sales.
(3) Other segment items consists of foreign exchange gains and losses, investment income and loss and other income and expense amounts that are included in Segment Operating Adjusted EBITDA that are not considered to be significant segment expenses.
Year Ended December 31, 2023
(in millions)Infrastructure SolutionsMaterials SolutionsTotal
Reportable segment revenues:
Revenues from external customers$800.4 $537.8 $1,338.2 
Intersegment revenues37.8 1.0 38.8 
Total revenues - reportable segments$838.2 $538.8 $1,377.0 
Significant reportable segment expenses:
Manufacturing operation costs:
Equipment$408.5 $274.4 $682.9 
Parts121.9 82.1 204.0 
Other65.8 41.8 107.6 
General and administrative53.5 39.2 92.7 
Sales and marketing44.6 27.6 72.2 
Quality costs (1)
15.1 12.1 27.2 
Research and development15.1 6.7 21.8 
Inventory period costs (2)
11.3 4.9 16.2 
Other segment items (3)
— (0.7)(0.7)
Reportable Segment Operating Adjusted EBITDA$102.4 $50.7 $153.1 
Reportable segment assets and capital expenditures:
Assets$1,041.5 $800.2 $1,841.7 
Capital expenditures24.8 8.9 33.7 
(1) Quality costs related to repair or other remediation expenses incurred for corrective action on product failures covered by warranties or voluntarily for certain warranty-type expenses occurring after the normal warranty period expires to help protect the reputation of the Company's products and maintain the goodwill of customers.
(2) Inventory period costs primarily relate to inventory reserves and adjustments and net scrap sales.
(3) Other segment items consists of foreign exchange gains and losses, investment income and loss and other income and expense amounts that are included in Segment Operating Adjusted EBITDA that are not considered to be significant segment expenses.
Reconciliations for the Company's reportable segment information are set forth below:

Years Ended December 31,
(in millions)202520242023
Reconciliation of reportable segment revenues to "Net sales"
Total revenues - reportable segments$1,451.3 $1,360.4 $1,377.0 
Elimination of intersegment revenues(40.9)(55.3)(38.8)
Net sales$1,410.4 $1,305.1 $1,338.2 
Reconciliation of Reportable Segment Operating Adjusted EBITDA to "Income before income taxes"
Segment Operating Adjusted EBITDA - reportable segments$189.9 $158.7 $153.1 
Corporate and Other expenses(49.2)(46.9)(43.1)
Transformation program(19.6)(32.8)(29.2)
Restructuring and other related charges0.2 (9.5)(7.7)
Goodwill impairment— (20.2)— 
Asset impairment— — (1.2)
Gain on sale of property, equipment and business, net0.2 1.1 3.1 
Acquisition and integration costs(16.9)(0.8)— 
Interest expense, net(15.2)(8.7)(6.8)
Depreciation and amortization(36.3)(26.8)(25.6)
Net income (loss) attributable to noncontrolling interest— (0.2)0.2 
Income before income taxes$53.1 $13.9 $42.8 
Reconciliation of reportable segment assets to "Total assets"
Total assets - reportable segments$2,358.1 $1,868.1 $1,841.7 
Corporate and Other1,133.0 864.4 770.9 
Elimination of intercompany receivables(1,304.6)(1,121.1)(999.4)
Elimination of investment in subsidiaries(775.6)(522.9)(521.5)
Other(43.7)(44.9)(32.4)
Total assets$1,367.2 $1,043.6 $1,059.3 
Reconciliation of reportable segment capital expenditures to "Expenditures for property and equipment"
Total capital expenditures - reportable segments$31.2 $20.2 $33.7 
Corporate and Other9.5 0.3 0.4 
Total capital expenditures$40.7 $20.5 $34.1 
"Net sales" into major geographic regions, attributable to the shipping location or the location where service was performed, were as follows:

Years Ended December 31,
(in millions)202520242023
United States$1,130.2 $1,015.4 $1,083.4 
Canada69.8 67.4 58.5 
Australia and Oceania41.9 52.3 55.7 
Africa39.6 40.5 36.6 
Brazil35.9 32.9 27.0 
Other European Countries24.6 23.7 26.2 
South America (excluding Brazil)22.1 17.8 19.8 
Other Asian Countries13.5 12.3 7.7 
Mexico9.2 23.8 8.4 
Japan and Korea7.2 — 0.3 
West Indies5.5 3.8 2.5 
Middle East3.6 1.8 4.9 
Post-Soviet States (excluding Russia)3.0 7.2 2.5 
India2.4 0.6 0.6 
Central America (excluding Mexico)1.9 5.6 4.1 
Total foreign280.2 289.7 254.8 
Total consolidated sales$1,410.4 $1,305.1 $1,338.2 

"Property and equipment, net" by major geographic region is as follows:

December 31,
(in millions)20252024
United States$185.6 $148.2 
United Kingdom17.0 16.5 
Brazil5.8 4.9 
South Africa5.0 4.1 
Australia4.3 4.0 
Canada 3.7 3.9 
Other0.9 0.3 
Total foreign36.7 33.7 
Total property and equipment, net$222.3 $181.9 
v3.25.4
Other Income and Expenses, net
 12 Months Ended
Dec. 31, 2025
Other Income and Expenses [Abstract]  
Other Income and Expenses, net Other Income and Expenses, net
Other income (expenses), net, consists of the following:

Years Ended December 31,
(in millions)202520242023
Foreign exchange gains (losses), net$0.9 $(1.2)$0.7 
Investment income, net0.3 — 0.2 
Other, net1.2 0.6 0.1 
Total$2.4 $(0.6)$1.0 
v3.25.4
Strategic Transformation and Restructuring, Impairment and Other Asset (Gains) Charges, net
 12 Months Ended
Dec. 31, 2025
Restructuring and Related Activities [Abstract]  
Strategic Transformation and Restructuring, Impairment and Other Asset (Gains) Charges, net Strategic Transformation and Restructuring, Impairment and Other Asset (Gains) Charges, net
The Company's strategic transformation program includes the ongoing multi-year phased implementation of a standardized enterprise resource planning ("ERP"), which is replacing much of the existing disparate core financial systems. The upgraded ERP will initially convert internal operations, manufacturing, finance, human capital resources management and customer relationship systems to cloud-based platforms. An implementation of this scale is a major financial undertaking and requires substantial time and attention of management and key employees.
Net capitalized implementation costs associated with the ERP implementation totaled $28.2 million, of which $3.6 million and $24.6 million were included in "Prepaid expenses and other assets" and "Other long-term assets", respectively, in the Consolidated Balance Sheets as of December 31, 2025. Net capitalized implementation costs totaled $31.9 million, of which $3.7 million and $28.2 million were included in "Prepaid expenses and other assets" and "Other long-term assets", respectively, in the Consolidated Balance Sheets as of December 31, 2024. Accumulated amortization associated with these capitalized implementation costs totaled $9.2 million and $5.5 million as of December 31, 2025 and 2024, respectively.

Costs associated with these strategic transformation programs are presented below:

Years Ended December 31,
(in millions)202520242023
Strategic transformation programs
"Selling, general and administrative expenses"$19.6 $33.0 $29.4 
"Cost of sales"0.1 0.5 0.3 
Total costs related to strategic transformation initiatives$19.7 $33.5 $29.7 
Amortization of capitalized implementation costs (1)
$3.7 $3.6 $1.9 
(1) Amortization of capitalized implementation costs is recorded in "Selling, general and administrative expenses" in the Consolidated Statements of Operations.

In addition, the Company periodically sells or disposes of its assets in the normal course of its business operations as they are no longer needed or used and may incur gains or losses on these disposals. Certain of the costs associated with these decisions are separately identified as restructuring. The Company reports asset impairment charges, excluding goodwill impairment, and gains or losses on the sales of property and equipment collectively, with restructuring charges in "Restructuring, impairment and other asset (gains) charges, net" in the Consolidated Statements of Operations to the extent they are experienced.

Restructuring, impairment and other asset (gains) charges, net incurred in 2025, 2024 and 2023 are as follows:

Years Ended December 31,
(in millions)202520242023
Restructuring (gains) charges, net:
(Gains) charges associated with exited operations – Enid$(0.2)$8.6 $0.4 
Workforce reductions— 0.9 — 
Charges associated with leadership change and overhead restructuring — — 7.3 
Total restructuring related (gains) charges, net(0.2)9.5 7.7 
Asset impairment charges:
Other impairment charges— — 1.2 
Total asset impairment charges— — 1.2 
Gain on sale of property and equipment, net:
Gain on sale of property and equipment, net(0.2)(1.1)(3.1)
Total gain on sale of property and equipment, net(0.2)(1.1)(3.1)
Restructuring, impairment and other asset (gains) charges, net$(0.4)$8.4 $5.8 

Net restructuring (gains) charges by reportable segment and the Corporate and Other category are as follows:

Years Ended December 31,
(in millions)202520242023
Infrastructure Solutions$(0.2)$9.0 $0.5 
Materials Solutions— 0.3 — 
Corporate and Other— 0.2 7.2 
Total restructuring related (gains) charges, net$(0.2)$9.5 $7.7 
Impairment charges by reportable segment and the Corporate and Other category are as follows:

Years Ended December 31,
(in millions)202520242023
Infrastructure Solutions$— $— $0.4 
Corporate and Other— — 0.8 
Total impairment charges$— $— $1.2 

The (gains) losses on sale of property and equipment by reportable segment are as follows:

Years Ended December 31,
(in millions)202520242023
Infrastructure Solutions$(0.2)$(0.3)$(3.1)
Materials Solutions0.1 (0.8)— 
Corporate and Other(0.1)— — 
Total gain on sale of property and equipment, net$(0.2)$(1.1)$(3.1)

In October 2024, the Company reached an agreement to resolve the action styled VenVer S.A. and Americas Coil Tubing LLP v. GEFCO, Inc., related to Enid for $8.4 million. In connection with the settlement, management recorded a loss of $8.4 million in "Restructuring, impairment and other asset (gains) charges, net" in the Consolidated Statements of Operations and "Other current liabilities" in the Consolidated Balance Sheets during the third quarter of 2024. See Note 16, Commitments and Contingencies for further discussion of this matter.

In January 2021, the Company announced plans to close the Tacoma facility in order to simplify and consolidate operations within the Infrastructure Solutions segment. The Company completed the sale of the Tacoma facility's land, building and certain equipment assets in the first quarter of 2023 for $19.9 million. The Company recorded a gain on the sale of $3.4 million, which was recorded in "Restructuring, impairment and other asset (gains) charges, net" in the Consolidated Statements of Operations.

Effective January 6, 2023, Mr. Barry A. Ruffalo's employment as President and Chief Executive Officer was terminated. In connection with his separation, the Company entered into an agreement with Mr. Ruffalo (the "Separation Agreement") pursuant to which, Mr. Ruffalo was entitled to certain severance payments and benefits. There were $1.8 million of restructuring costs, related to the modification of Mr. Ruffalo's equity awards and other third-party transition support costs incurred in the year ended December 31, 2023, which were recorded in "Restructuring, impairment and other asset (gains) charges, net" in the Consolidated Statements of Operations. The related recovery of $1.6 million of previously incurred share-based compensation expense was recorded in "Selling, general and administrative expenses" in the Consolidated Statements of Operations during the first quarter of 2023. The Separation Agreement also includes a release and waiver by Mr. Ruffalo and other customary provisions.

Management continually reviews the Company's organizational structure and operations to ensure they are optimized and aligned with achieving near-term and long-term operational and profitability targets. In connection with this review, the Company effected workforce reductions during the second quarter of 2024, whereby charges of $0.9 million were incurred and recorded in "Restructuring, impairment and other asset (gains) charges, net" in the Consolidated Statements of Operations. In February 2023, the Company implemented a limited restructuring plan to right-size and reduce the fixed cost structure of certain overhead departments. Total charges of $5.5 million for employee termination costs, including equity award modifications, were recorded in "Restructuring, impairment and other asset (gains) charges, net" in the Consolidated Statements of Operations. The related recovery of $1.0 million of previously incurred share-based compensation expense was recorded in "Selling, general and administrative expenses" in the Consolidated Statements of Operations.
v3.25.4
Subsequent Event
 12 Months Ended
Dec. 31, 2025
Subsequent Events [Abstract]  
Subsequent Event Subsequent Event
The Company has evaluated all events subsequent to the balance sheet date as of December 31, 2025 through the date of issuance of these consolidated financial statements and has determined that, except as set forth below, there are no subsequent events that require disclosure.

On January 1, 2026, the Company completed the acquisition of CWMF, LLC ("CWMF"), a manufacturer of portable and stationary asphalt plant equipment and parts. The acquisition increases production capacity in the Company's Infrastructure Solutions segment. The total cash consideration paid by the Company to the sellers of CWMF was $67.5 million, subject to a customary purchase price adjustment and was funded by a combination of incremental borrowings on the Company's 2025 Credit Facilities and cash on hand. The Company expects to account for this transaction as a business combination. The initial accounting, including the identification and allocation of consideration to assets acquired and liabilities assumed, is not complete given the proximity of the acquisition to the financial statement filing date. The acquisition is not expected to be material to the Company's Consolidated Statements of Operations.
v3.25.4
Insider Trading Arrangements
 3 Months Ended
Dec. 31, 2025
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.25.4
Insider Trading Policies and Procedures
 12 Months Ended
Dec. 31, 2025
Insider Trading Policies and Procedures [Line Items]  
Insider Trading Policies and Procedures Adopted true
v3.25.4
Cybersecurity Risk Management and Strategy Disclosure
 12 Months Ended
Dec. 31, 2025
Cybersecurity Risk Management, Strategy, and Governance [Line Items]  
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]
We have developed and implemented a comprehensive cybersecurity strategy and risk management program that is informed by the following key elements:

•Periodic cybersecurity program maturity assessments to evaluate the overall controls, processes, skills and platforms leveraged to assess, identify and manage material risks from cybersecurity threats.
•Periodic business impact assessments of key business processes and services that enable us to identify sensitive and critical aspects of the business, the impact of operational disruptions to those processes and services and the sensitivity of the data leveraged in those processes and services.
•Periodic penetration testing of our internal and external IT environment to validate the real-world efficacy of our cybersecurity program and mitigate the risks of new cybersecurity vulnerabilities.
The primary aspects of our cybersecurity program are managed by internal information technology resources. Our internal team is supported by external service providers and consultants as needed.

We utilize third-party service providers to manage portions of our business operations. We have established processes to review, identify and manage cybersecurity risks associated with the use of service providers. Prior to engaging these providers, we review the providers' SOC 2 Type II or other relevant security audit reports to ensure proper security controls are in place. We evaluate the service providers' controls for incident response strategy to identify any significant risks and adapt accordingly. We systematically review these assessments for any significant change throughout the relationship. Our risk management program consistently monitors for risk to our systems and services presented by these service providers and promotes strategies to address any threats identified.

To reduce the risk that we are materially impacted by a cybersecurity incident, we employ a multi-layered defense approach to cybersecurity leveraging our people, external resources, controls, tools and automated/monitored platforms to support the detection and response to cybersecurity incidents. We also have a cybersecurity incident response plan that outlines the steps we will take to respond to a cybersecurity incident, which is tested on a periodic basis. Additionally, we have a retainer for external forensics support if required for a material incident.

Finally, we conduct cybersecurity training and awareness programs for relevant employees, periodically conduct tabletop exercises leveraging actual scenarios to validate and improve our cybersecurity incident response plan and ensure that our management has a thorough understanding of and experience executing their roles and responsibilities if a cybersecurity incident were to occur.

Our cybersecurity strategy and risk management program is a component of our overarching enterprise risk management program and interfaces with other functional areas within the Company, including our business segments, legal, risk, human resources and internal audit departments.

While we have experienced cybersecurity incidents in the past, we do not believe that any risks from cybersecurity threats have materially affected or are reasonably likely to materially affect our business or financial condition. However, there can be no assurance that we will not suffer a significant event in the future that could materially affect our business, financial position, results of operations or cash flows. For more information on how cybersecurity risk may materially affect our business, financial positions, results of operations or cash flows, please refer to Part I, Item 1A. Risk Factors hereof.
Cybersecurity Risk Management Processes Integrated [Flag] true
Cybersecurity Risk Management Processes Integrated [Text Block]
We have developed and implemented a comprehensive cybersecurity strategy and risk management program that is informed by the following key elements:

•Periodic cybersecurity program maturity assessments to evaluate the overall controls, processes, skills and platforms leveraged to assess, identify and manage material risks from cybersecurity threats.
•Periodic business impact assessments of key business processes and services that enable us to identify sensitive and critical aspects of the business, the impact of operational disruptions to those processes and services and the sensitivity of the data leveraged in those processes and services.
•Periodic penetration testing of our internal and external IT environment to validate the real-world efficacy of our cybersecurity program and mitigate the risks of new cybersecurity vulnerabilities.
Cybersecurity Risk Management Third Party Engaged [Flag] true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] false
Cybersecurity Risk Board of Directors Oversight [Text Block] Our Audit Committee has primary responsibility for evaluating cybersecurity risk management, overseeing our major cybersecurity risk exposures and the steps management has taken to monitor and control these exposures, including policies and procedures for assessing and managing risk, as well as oversight of compliance related to legal and regulatory exposure.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]
The management positions responsible for assessing and managing cybersecurity risks include our Senior Director of IT Infrastructure and our Chief Information Officer ("CIO"), who reports directly to our Chief Financial Officer ("CFO"). Our CIO is responsible for ensuring that we have a cybersecurity risk management program in place that is fully aligned with business requirements and strategy. Our CIO and our Senior Director of IT Infrastructure have over 10 and 20 years of cybersecurity oversight experience, respectively. Our CIO previously served as CIO for a New York Stock Exchange listed building materials company prior to joining the Company.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]
The management positions responsible for assessing and managing cybersecurity risks include our Senior Director of IT Infrastructure and our Chief Information Officer ("CIO"), who reports directly to our Chief Financial Officer ("CFO"). Our CIO is responsible for ensuring that we have a cybersecurity risk management program in place that is fully aligned with business requirements and strategy. Our CIO and our Senior Director of IT Infrastructure have over 10 and 20 years of cybersecurity oversight experience, respectively. Our CIO previously served as CIO for a New York Stock Exchange listed building materials company prior to joining the Company.
Cybersecurity Risk Role of Management [Text Block]
The management positions responsible for assessing and managing cybersecurity risks include our Senior Director of IT Infrastructure and our Chief Information Officer ("CIO"), who reports directly to our Chief Financial Officer ("CFO"). Our CIO is responsible for ensuring that we have a cybersecurity risk management program in place that is fully aligned with business requirements and strategy. Our CIO and our Senior Director of IT Infrastructure have over 10 and 20 years of cybersecurity oversight experience, respectively. Our CIO previously served as CIO for a New York Stock Exchange listed building materials company prior to joining the Company.

As part of our defined cybersecurity policies and cybersecurity incident response plan, management is regularly updated on the status of the execution of our cybersecurity strategy and daily operations of the program. This includes regular reporting and evaluation of all cybersecurity incidents, not only those that may be deemed material.

Our CIO, supported by our Senior Director of IT Infrastructure, provides reports to the Audit Committee, which, generally include:

•Our cybersecurity risk profile;
•Any changes to our cybersecurity strategy;
•Status of the execution of the cybersecurity strategy; and
•Summary of any material cybersecurity incidents that have occurred over the past quarter, including the nature, impact and resolution of incidents.

In the event of a material cybersecurity incident, communication to the Audit Committee is provided pursuant to our cybersecurity incident response plan.
Cybersecurity Risk Management Positions or Committees Responsible [Flag] true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]
The management positions responsible for assessing and managing cybersecurity risks include our Senior Director of IT Infrastructure and our Chief Information Officer ("CIO"), who reports directly to our Chief Financial Officer ("CFO"). Our CIO is responsible for ensuring that we have a cybersecurity risk management program in place that is fully aligned with business requirements and strategy. Our CIO and our Senior Director of IT Infrastructure have over 10 and 20 years of cybersecurity oversight experience, respectively. Our CIO previously served as CIO for a New York Stock Exchange listed building materials company prior to joining the Company.

As part of our defined cybersecurity policies and cybersecurity incident response plan, management is regularly updated on the status of the execution of our cybersecurity strategy and daily operations of the program. This includes regular reporting and evaluation of all cybersecurity incidents, not only those that may be deemed material.

Our CIO, supported by our Senior Director of IT Infrastructure, provides reports to the Audit Committee, which, generally include:

•Our cybersecurity risk profile;
•Any changes to our cybersecurity strategy;
•Status of the execution of the cybersecurity strategy; and
•Summary of any material cybersecurity incidents that have occurred over the past quarter, including the nature, impact and resolution of incidents.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block] Our CIO and our Senior Director of IT Infrastructure have over 10 and 20 years of cybersecurity oversight experience, respectively. Our CIO previously served as CIO for a New York Stock Exchange listed building materials company prior to joining the Company.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]
The management positions responsible for assessing and managing cybersecurity risks include our Senior Director of IT Infrastructure and our Chief Information Officer ("CIO"), who reports directly to our Chief Financial Officer ("CFO"). Our CIO is responsible for ensuring that we have a cybersecurity risk management program in place that is fully aligned with business requirements and strategy. Our CIO and our Senior Director of IT Infrastructure have over 10 and 20 years of cybersecurity oversight experience, respectively. Our CIO previously served as CIO for a New York Stock Exchange listed building materials company prior to joining the Company.

As part of our defined cybersecurity policies and cybersecurity incident response plan, management is regularly updated on the status of the execution of our cybersecurity strategy and daily operations of the program. This includes regular reporting and evaluation of all cybersecurity incidents, not only those that may be deemed material.

Our CIO, supported by our Senior Director of IT Infrastructure, provides reports to the Audit Committee, which, generally include:

•Our cybersecurity risk profile;
•Any changes to our cybersecurity strategy;
•Status of the execution of the cybersecurity strategy; and
•Summary of any material cybersecurity incidents that have occurred over the past quarter, including the nature, impact and resolution of incidents.

In the event of a material cybersecurity incident, communication to the Audit Committee is provided pursuant to our cybersecurity incident response plan.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] true
v3.25.4
Basis of Presentation and Significant Accounting Policies (Policies)
 12 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
Basis of Presentation and Principles of Consolidation
Basis of Presentation and Principles of Consolidation

The accompanying consolidated financial statements include the accounts of Astec and its subsidiaries and have been prepared by the Company, pursuant to the rules and regulations of the U.S. Securities and Exchange Commission ("SEC"). The Company prepares its consolidated financial statements in accordance with generally accepted accounting principles in the United States of America ("U.S. GAAP"). All intercompany balances and transactions between the Company and its affiliates have been eliminated in consolidation.

Noncontrolling interest in the Company's consolidated financial statements represents the 7% interest in a consolidated subsidiary which is not owned by the Company. Since the Company controls this subsidiary, the subsidiary's financial statements are consolidated with those of the Company, and the noncontrolling owner's 7% share of the subsidiary's net assets and results of operations is deducted and reported as "Noncontrolling interest" in the Consolidated Balance Sheets and as "Net loss (income) attributable to noncontrolling interest" in the Consolidated Statements of Operations. The Company executed an agreement in February 2022 with the noncontrolling interest holder to acquire their outstanding interest in full for R$10.0M (approximately $2.0 million, subject to the effect of exchange rates). Completion of the transaction is subject to resolution of certain disputes between the parties.
Use of Estimates
Use of Estimates

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported and disclosed in the consolidated financial statements and accompanying notes. Significant items subject to such estimates and assumptions include excess and obsolete inventory, inventory net realizable value, product warranty obligations, capitalized implementation costs, fair value of assets acquired and liabilities assumed in a business combination, goodwill and other intangible assets impairment and the measurement of income tax assets and liabilities. The Company bases its estimates on historical experience and on various other assumptions that the Company believes to be reasonable under the circumstances. On an ongoing basis, the Company evaluates these assumptions, judgments and estimates. Actual results could differ from those estimates.
Cash, Cash Equivalents and Restricted Cash Cash, Cash Equivalents and Restricted Cash - All highly liquid investments with an original maturity of three months or less when purchased are considered to be cash equivalents. The Company maintains cash balances with high credit quality institutions, the balances of which may exceed federally insured limits.
Investments
Investments - Investments consist primarily of investment-grade marketable securities. All investments held as of December 31, 2025 are classified as trading securities and are carried at fair value, with unrealized holding gains and losses included in "Other income (expenses), net" in the Consolidated Statements of Operations. Realized gains and losses are accounted for on the specific identification method. Purchases and sales are recorded on a trade-date basis. Management determines the appropriate classification of its investments at the time of acquisition and reevaluates such determination at each balance sheet date.
Accounts Receivable
Accounts Receivable - The Company sells products to a wide variety of customers. Accounts receivable are carried at their outstanding principal amounts, less an allowance for credit losses. The Company extends credit to its customers based on an evaluation of the customers' financial condition generally without requiring collateral, although the Company normally requires advance payments or letters of credit on large equipment orders. A portion of the Company's credit risk is limited through credit insurance in certain international jurisdictions.

The Company held notes and other receivables, net totaling $4.5 million and $3.3 million as of December 31, 2025 and 2024, respectively in "Trade receivables, contract assets and other receivables, net" in the Consolidated Balance Sheets.
Allowance for Credit Losses
Allowance for Credit Losses - The Company measures its credit losses on receivables using an expected loss model. The Company currently monitors credit levels and financial conditions of customers on a continuing basis, considering historical trends for uncollectible accounts, current economic conditions and specific customer recent payment history and financial stability. An allowance for credit losses is maintained in "Trade receivables, contract assets and other receivables, net" in the Consolidated Balance Sheets at a level which management believes is sufficient to cover all probable future credit losses as of the balance sheet date based on a rolling twelve-month "look-back" and specific reserves. The Company applies the practical expedient to assume that current conditions as of the balance sheet date do not change for the remaining life of accounts receivable and contract assets. The corresponding provision for credit losses is recorded in "Selling, general and administrative expenses" in the Consolidated Statements of Operations.
Amounts are deemed past due when they exceed the payment terms agreed to by the customer in the sales contract. Past due amounts are charged off when reasonable collection efforts have been exhausted and the amounts are deemed uncollectible by management. The majority of the Company’s receivables are related to equipment that requires significant down payment with other terms allowing for payment shortly after shipment, typically 30 days, which the Company believes is short-term in nature.
Inventories
Inventories - The Company's inventory is comprised of raw materials and parts, work-in-process, finished goods and used equipment.

Raw material and parts inventory comprises 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 inventory 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 inventory consists of completed equipment manufactured for sale to customers.

Used equipment inventory consists of equipment accepted in trade or purchased on the open market. This 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, the Company's normal gross margins, actions by the Company or its competitors, the condition of its used and rental equipment inventory and general economic factors. Once an inventory item's value has been deemed to be less than cost, a net realizable value allowance 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.

One of the most significant components 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 equipment 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 slow-moving or 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.
Assets Held for Sale Assets Held for Sale - Assets are classified as held for sale when any ongoing operations have ceased, and the Company has committed to a plan to sell the assets in their current condition at a price that is reasonable in relation to the current fair value of the assets. Assets held for sale are generally expected to be sold within one year of meeting the designation criteria. Upon designation as held for sale, the assets are recorded at the lower of their carrying value or fair value less costs to sell, and related depreciation and amortization is ceased. The held for sale designation and carrying value of assets held for sale is periodically reviewed and adjusted as facts and circumstances indicate that a change may be necessary.
Property and Equipment
Property and Equipment - Property and equipment is stated at cost. Expenditures for maintenance, repairs and minor renewals are charged against earnings as incurred. Expenditures for major renewals and improvements that substantially extend the capacity or useful life of an asset are capitalized and are then depreciated. The cost and accumulated depreciation for property and equipment sold, retired or otherwise disposed of are relieved from the accounts and resulting gains or losses are reflected in earnings.

Property and equipment are depreciated over the estimated useful lives of the assets using the straight-line depreciation method for financial reporting and on accelerated methods for income tax purposes. Land is recorded at historical cost and is not depreciated. The useful lives are estimated based on historical experience with similar assets, considering anticipated technological or other changes. The Company periodically reviews these lives relative to physical factors and industry trends. If there are changes in the planned use of property or equipment or if technological changes were to occur more rapidly than anticipated, the useful lives assigned to these assets may need to be shortened, resulting in the recognition of accelerated depreciation expense in future periods.
Property and equipment are primarily depreciated over the following useful lives:

Years
Buildings and improvements
5 - 40
Airplanes and aviation equipment
5 - 20
Machinery, equipment and tooling
3 - 10
Furniture and fixtures
5 - 10
Computer hardware and software
3 - 5
Impairment of Long-Lived Assets
Impairment of Long-Lived Assets - In the event that facts and circumstances indicate the carrying amounts of long-lived assets may be impaired, an evaluation of recoverability is performed. If an evaluation is required, the estimated future undiscounted cash flows associated with the asset are compared to the carrying amount for each asset (or group of assets) to determine if a write-down is required. If this review indicates that the assets will not be recoverable, the carrying values of the impaired assets are reduced to their estimated fair value. Fair value is estimated using discounted cash flows, prices for similar assets or other valuation techniques.
Leases
Leases - The Company leases certain real estate, material handling equipment, automobiles and other equipment. The Company determines if a contract is a lease (or contains an embedded lease) at the inception of the agreement. For a contract to be determined to be a lease or contain a lease, it must include explicitly or implicitly identified assets where the Company has the right to substantially all of the economic benefits of the assets and has the ability to direct how and for what purpose the assets are used during the lease term. Leases are classified as either operating or finance. For operating leases, the Company recognizes a lease liability equal to the present value of the remaining lease payments and a right-of-use ("ROU") asset equal to the lease liability, subject to certain adjustments, such as prepaid rent. ROU assets represent the right to use an underlying asset for the lease term, and lease liabilities represent the Company's obligation to make lease payments arising from the lease. As of December 31, 2025 and 2024, the Company did not have any finance leases.

The Company uses its incremental borrowing rate to determine the present value of the lease payments. The Company's incremental borrowing rate is the rate of interest that it would incur to borrow on a collateralized basis over a similar term an amount equal to the lease payments in a similar economic environment. The Company determines the incremental borrowing rates based upon secured borrowing rates quoted by the Company's banks for loans of a corresponding length to the lease.

The lease term at the lease commencement date is determined based on the non-cancellable period for which the Company has the right to use the underlying asset, together with any periods covered by an option to extend the lease if the Company is reasonably certain to exercise that option, periods covered by an option to terminate the lease if the Company is reasonably certain not to exercise that option and periods covered by an option to extend (or not to terminate) the lease in which the exercise of the option is controlled by the lessor. The Company considers a number of factors when evaluating whether the options in its lease contracts are reasonably certain of exercise, such as length of time before an option exercise, expected value of the leased asset at the end of the initial lease term, importance of the lease to the Company's operations, costs to negotiate a new lease and any contractual or economic penalties.

The Company does not recognize ROU assets or lease liabilities for leases with a term of 12 months or less.
Capitalization of Implementation Costs and Internal Use Software
Capitalization of Implementation Costs and Internal Use Software - Software development activities generally consist of three stages: (i) the preliminary project stage, (ii) the application development stage and (iii) the post implementation and operation stage. The Company capitalizes certain software development costs during the application development stage. These costs may include vendor hosted software costs, personnel expenses for employees and costs for third-party consulting services which are directly associated with the software development. Capitalization ends once the implementation is substantially complete, at which point the capitalized costs are amortized ratably over the remaining contract term plus any reasonably certain renewal periods. Software development costs that do not meet the qualification for capitalization are expensed as incurred and recorded in "Selling, general and administrative expenses" in the Consolidated Statements of Operations.
Goodwill and Other Intangible Assets
Goodwill and Other Intangible Assets - Goodwill represents the excess of the purchase price over the fair value of identifiable net assets of businesses acquired. Goodwill is not amortized but is tested at the reporting unit level for impairment annually on October 1, or more frequently, as events dictate. A reporting unit is an operating segment or, under certain circumstances, a component of an operating segment that constitutes a business, has available discrete financial information and whose operating results are regularly reviewed by management. Components of an operating segment are combined and aggregated as a single reporting unit if the components have similar economic characteristics.

Goodwill is tested for impairment by either performing a qualitative evaluation or a quantitative test. The qualitative evaluation is an assessment of factors that includes, but is not limited to, the macroeconomic conditions, industry and competitive environment conditions, overall financial performance, business specific events and market considerations. The Company may elect not to perform the qualitative assessment for some or all reporting units and perform the quantitative impairment test. If a
qualitative assessment indicates that it is more likely than not that a reporting unit's fair value is less than its carrying amount, the Company will perform a quantitative test.

The quantitative goodwill impairment test requires the comparison of the carrying value of the reporting unit's net assets to the fair value of the reporting unit. The Company determines fair values of each reporting unit using an equally weighted combination of the discounted cash flow method, a form of the income approach, and the guideline public company method, a form of the market approach. This analysis requires significant assumptions, including projected net sales, projected earnings before interest, tax, depreciation and amortization, terminal growth rates, the cost of capital, the selection of appropriate guideline companies and related valuation multiples. Management's estimates are subject to change given the inherent uncertainty in predicting future results. Additionally, the discount rate and the terminal growth rate are based on management's judgment of the rates that would be utilized by a hypothetical market participant. If a quantitative assessment indicates that it is more likely than not that a reporting unit's fair value is less than its carrying amount, a goodwill impairment charge would be recorded.

The Company's intangible assets have definite lives and are subject to amortization. Intangible assets are tested for impairment whenever events or changes in circumstances indicate that their carrying values may not be recoverable. The Company determines the useful lives of identifiable intangible assets after considering the specific facts and circumstances related to each intangible asset. Factors considered when determining useful lives include the contractual terms of agreements, the history of the asset, the Company's long-term strategy for the use of the asset, any laws or other local regulations which could impact the useful life of the asset and other economic factors, including competition and specific market conditions.

The Company tests intangible assets with definite lives for impairment if conditions exist that indicate the carrying value may not be recoverable. Such conditions may include an economic downturn in a geographic market or a change in the assessment of future operations. An impairment charge is recorded when the carrying value of the definite-lived intangible asset is not recoverable by the future undiscounted cash flows expected to be generated from the use of the asset, which are evaluated at the asset group level.

Intangible assets with definite lives are amortized on a straight-line basis over the following estimated useful lives:
Years
Dealer network and customer relationships
8 - 18
Trade names
3 - 10
Other
3 - 12
Product Warranty Reserve
Product Warranty Reserve - The Company accrues for the estimated cost of product warranties at the time revenue is recognized. Warranty obligations by product line or model are evaluated based on historical warranty claims experience. For equipment, the Company's standard product warranty terms generally include post-sales support and repairs of products at no additional charge for periods ranging from three months to two years or up to a specified number of hours of operation. For parts from component suppliers, the Company relies on the original manufacturer's warranty that accompanies those parts. Generally, Company fabricated parts are not covered by specific warranty terms. Although failure of fabricated parts due to material or workmanship is rare, if it occurs, the Company's policy is to replace fabricated parts at no additional charge.

Estimated warranty obligations are based upon warranty terms, product failure rates, repair costs and current period machine shipments. If actual product failure rates, repair costs, service delivery costs or post-sales support costs differ from the Company's estimates, these estimates will be re-evaluated and adjustments to the estimated warranty liability will be made, if required.
Income Taxes
Income Taxes - Income taxes are based on pretax financial accounting income. Deferred tax assets and liabilities are recognized for the expected tax consequences of temporary differences between the tax bases of assets and liabilities and their reported amounts. The Company periodically assesses the need to establish valuation allowances against its deferred tax assets to the extent the Company no longer believes it is more likely than not that the tax assets will be fully utilized.

The Company evaluates a tax position to determine whether it is more likely than not that the tax position will be sustained upon examination, based upon the technical merits of the position. A tax position that meets the more likely than not recognition threshold is subject to a measurement assessment to determine the amount of benefit to recognize and the appropriate reserve to establish, if any. If a tax position does not meet the more likely than not recognition threshold, no benefit is recognized. The Company is periodically audited by U.S. federal and state as well as foreign tax authorities. While it is often difficult to predict a final outcome or timing of resolution of any particular tax matter, the Company believes its reserve for uncertain tax positions is adequate to reduce the uncertain positions to the greatest amount of benefit that is more likely than not realizable.
Self-Insurance Reserves
Self-Insurance Reserves - The Company retains the risk for a portion of its workers' compensation claims and general liability claims by way of a captive insurance company, Astec Insurance. The objectives of Astec Insurance are to improve control over and reduce the cost of claims; to improve focus on risk reduction with the development of a program structure which rewards proactive loss control; and to ensure management participation in the defense and settlement process for claims.
For general liability claims, the captive is liable for the first $1.0 million per occurrence. The Company carries general liability, excess liability and umbrella policies for claims in excess of amounts covered by the captive.

For workers' compensation claims, the captive is liable for the first $0.35 million per occurrence. The Company utilizes a large national insurance company as third-party administrator for workers' compensation claims and carries insurance coverage for claims liabilities in excess of amounts covered by the captive.

The financial statements of the captive are included in the consolidated financial statements of the Company. The short-term and long-term reserves for claims and potential claims related to general liability and workers' compensation under the captive are included in "Other current liabilities" or "Other long-term liabilities" in the Consolidated Balance Sheets depending on the expected timing of future payments. The undiscounted reserves are actuarially determined to cover the ultimate cost of each claim 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. However, the Company does not believe it is reasonably likely that the reserve level will materially change in the foreseeable future.

The Company is self-insured for health and prescription claims under its Group Health Insurance Plan for all of the Company's domestic employees. The Company carries reinsurance coverage to limit its exposure for individual health claims above certain limits. Third parties administer health claims and prescription medication claims. The Company maintains a reserve for the self-insured health plan which is included in "Other current liabilities" in the Company's Consolidated Balance Sheets. This reserve includes both unpaid claims and an estimate of claims incurred but not reported, based on historical claims and payment experience. Historically, the reserves have been sufficient to provide for claims payments. Changes in actual claims experience or payment patterns could cause the reserve to change, but the Company does not believe it is reasonably likely that the reserve level will materially change in the near future.

Employees of the Company's foreign subsidiaries are insured under separate health plans. No reserves are necessary for these fully-insured health plans.
Accumulated Other Comprehensive Loss Accumulated Other Comprehensive Loss - Accumulated other comprehensive loss is comprised of foreign currency translation adjustments
Revenue Recognition
Revenue Recognition - Revenue is generally recognized when the Company satisfies a performance obligation by transferring control of goods or providing services. 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. The Company offers extended warranties for sale on certain equipment sold to its customers. Costs of obtaining sales contracts with an expected duration of one year or less are expensed as incurred. Revenue adjustments for a potential significant financing component or the costs to obtain the contract are not made for contracts that are paid within one year from the date of the contract fulfillment.

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 the Company has 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 the Company's dealer customers, payments for extended warranties or for obligations for future estimated returns to be allowed based upon historical trends. Other contract assets and liabilities are typically not material as a percentage of total assets or total liabilities, respectively.

When sales contain multiple performance obligations, revenue attributable to the sale of a product is recognized when the product is shipped, and the revenue attributable to services provided with respect to the product (such as installation services) is recognized when the service is performed. Consideration is allocated to deliverables using observable market prices from stand-alone performance obligations or a cost plus margin approach when one is not available. Otherwise, the Company uses third-party evidence of selling price or an estimate of the selling price for the deliverables. Sales with multiple performance obligations are evaluated to determine whether revenue related to individual elements should be recognized separately or as a combined unit.
The Company had orders totaling approximately $29.5 million, $24.5 million and $16.0 million in 2025, 2024 and 2023, respectively, on which revenue was recorded over time based upon the ratio of costs incurred to estimated total costs.

Certain contracts include terms and conditions pursuant to which the Company recognizes revenues upon the completion of production and, at the request of the customer, stores the equipment at the Company's facilities. Under the terms of such contracts, revenue is recorded upon the customer's assumption of title and risk of ownership and when the Company has a present right to payment. In addition, the equipment is segregated from the Company's inventory, specifically identified as belonging to the customer, ready for physical transfer to the customer and cannot be used by the Company or redirected to another customer. The Company has not retained any specific performance obligations such that the earnings process is not complete 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 typically obtained by trade-in on new equipment sales or as a separate purchase in the open market. Revenues from the sale of used equipment are recognized upon transfer of control to the customer at agreed upon pricing.

Freight Revenue - 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 floor plan interest reimbursements, extended warranty revenues and rental revenues.
Advertising Expense Advertising Expense - The cost of advertising is expensed as incurred.
Research and Development Research and Development - Research and development costs primarily include employee compensation and prototype materials costs related to the development of new products and significant improvements to existing product lines. These costs are expensed as incurred.
Share-based Compensation
Share-Based Compensation - The grant date fair value of share-based compensation awards is based upon the closing market price of the Company's common stock on the day prior to the grant date, except for performance stock awards with a total shareholder return ("TSR") market metric for which the Company estimates fair value using a Monte-Carlo simulation model. The Company recognizes compensation expense for all awards over the requisite service period. Forfeitures are recognized as they occur. Compensation expense is based on the grant date fair value as described above, except for performance stock awards with a return on invested capital ("ROIC") performance metric. For these awards, compensation expense is based on the probable outcome of achieving the specified performance conditions. The Company reassesses whether achievement of the ROIC performance metric is probable at each reporting date. The Company's equity awards are further described in Note 17, Share-Based Compensation.
Restructuring
Restructuring - The Company continually reviews its organizational structure and operations to ensure they are optimized and aligned with achieving near-term and long-term operational and profitability targets. In connection with this review, significant restructuring actions may be implemented. These actions can include personnel terminations, reorganization efforts to simplify and consolidate the Company's operations or the divestiture of underperforming manufacturing sites or product lines. Employee severance and related termination benefits are primarily based on the Company's employment policies and substantive severance plans. The Company records liabilities related to severance programs when the actions are probable and the amounts are reasonably estimable, which typically is when a restructuring plan has been approved. Additional liabilities may be recorded if a restructuring plan is extended or additional benefits are provided. In the event that affected employees are required to render additional service in order to receive severance benefits at their termination dates, severance costs are measured at the date that benefits are communicated to the applicable employees and recognized as expense over the employees’ remaining service periods. Any incremental or recovery of expense related to stock compensation programs are recognized at the end of the employees' service periods. Restructuring costs include any ongoing costs related to exited businesses as such costs are incurred. Contract termination costs, if applicable, are recorded when contracts are terminated. See Note 21, Strategic Transformation and Restructuring, Impairment and Other Asset (Gains) Charges, net for additional discussion of the most recent restructuring actions taken.
Acquisitions
Acquisitions - The Company accounts for business combinations using the acquisition method. Accordingly, intangible assets are recorded apart from goodwill if they arise from contractual or legal rights or if they are separable from goodwill. Acquisition costs are expensed as incurred and contingent consideration, if applicable, is booked at its fair value as part of the purchase price. See Note 3, Acquisition for additional information on the Company's most recent acquisition.
Derivatives and Hedging Activities
Derivatives and Hedging Activities - The Company recognizes all derivatives in the Consolidated Balance Sheets at their fair value. Derivatives that are not hedges are adjusted to fair value through income. If the derivative is a hedge, depending on the nature of the hedge, changes in the fair value of derivatives are either offset against the change in fair value of assets, liabilities or firm commitments through income or recognized in other comprehensive income (loss) until the hedged item is recognized in income. The ineffective portion of a derivative's change in fair value is immediately recognized in income. From time to time, the Company's foreign subsidiaries enter into foreign currency exchange contracts to mitigate exposure to fluctuation in currency exchange rates.
The Company is exposed to certain risks relating to its ongoing business operations. The primary risk managed by using derivative instruments is foreign currency risk. The fair value of the derivative financial instrument is recorded in the Consolidated Balance Sheets and is adjusted to fair value at each measurement date. The changes in fair value are recognized in the Consolidated Statements of Operations in the current period. The Company does not engage in speculative transactions, nor does it hold or issue derivative financial instruments for trading purposes.
Foreign Currency Translation Foreign Currency - Subsidiaries located in Australia, Belgium, Brazil, Canada, China, France, India, South Africa, Sweden and the United Kingdom operate primarily using local functional currencies. Accordingly, assets and liabilities of these subsidiaries are translated using exchange rates in effect at the end of the period, and revenues and costs are translated using average exchange rates in effect during the period. The resulting adjustments are presented as a separate component of "Accumulated other comprehensive loss".
Earnings Per Share
Earnings Per Share - Basic earnings per share is computed by dividing "Net income attributable to controlling interest" by the weighted average number of shares outstanding during the reported period. Deferred stock units are fully vested and, as such, are included in basic earnings per share. Diluted earnings per share includes the dilutive effect of common stock equivalents consisting of restricted stock units, performance stock units, related dividend equivalents and stock held in the Company's deferred compensation programs, using the treasury stock method. Potential common shares that have an antidilutive effect (i.e., those that increase income per share or decrease loss per share) are excluded from the calculation of diluted earnings per share. Performance stock units, which are considered contingently issuable, are considered dilutive when the related performance criterion has been met.
Recently Adopted Accounting Pronouncements
Recently Adopted Accounting Pronouncements

In November 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2023-07, "Segment Reporting (Topic 280): Improvement to Reportable Segment Disclosures", which requires entities to disclose significant segment expenses, other segment items, the title and position of the chief operating decision maker ("CODM") and information related to how the CODM assesses segment performance and allocates resources, among certain other required disclosures. Additionally, current annual disclosures will be required in interim periods. The new standard is effective, on a retrospective basis, for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The Company adopted this guidance beginning with the Annual Report on Form 10-K for the year ended December 31, 2024 for annual disclosures and the Quarterly Report on Form 10-Q for quarter ended March 31, 2025 for interim disclosures. See Note 19, Operations by Industry Segment and Geographic Area for additional information on the Company's reportable segments.

In December 2023, the FASB issued ASU 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures," which requires entities to disclose specific categories in the income tax rate reconciliation and provide additional information for reconciling items that meet a specified quantitative threshold. In addition, the new standard requires disclosure of the amount of income taxes paid disaggregated by federal, state and foreign taxes and by jurisdiction for exceeding a specified quantitative threshold. Additionally, income or loss from continuing operations before income tax will be required to be disaggregated between domestic and foreign classifications, and income tax expense will be required to be disaggregated between federal, state and foreign classifications. The new standard is effective for fiscal years beginning after December 15, 2024 on a prospective basis, with retrospective application permitted. The Company adopted this guidance prospectively beginning with the Form 10-K filing herein for the year ended December 31, 2025. See Note 15, Income Taxes for the required disclosures as stated in the ASU.

Recently Issued Accounting Pronouncements Not Yet Adopted

In November 2024, the FASB issued ASU 2024-03, "Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses", which requires entities to disclose specific types of expenses included in the expense captions presented on the face of the income statement, among other disclosures. The new guidance is effective for annual reporting periods beginning after December 15, 2026 and interim reporting periods beginning after December 15, 2027 on a prospective basis, with retrospective application permitted. The Company is currently evaluating the impact this ASU will have on its financial statement disclosures, but this standard will not impact the Company's results of operations, financial position or cash flows.

Recent accounting guidance not discussed above is not applicable, did not have or is not expected to have a material impact on the Company.
Fair Value of Financial Instruments
Level 1 -Unadjusted quoted prices in active markets for identical assets or liabilities.
Level 2 -Unadjusted quoted prices in active markets for similar assets or liabilities; or unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active; or inputs other than quoted prices that are observable for the asset or liability.
Level 3 -Unobservable inputs that reflect management’s best estimate of what market participants would use in pricing the asset or liability at the measurement date.
v3.25.4
Basis of Presentation and Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
Schedule of Allowance for Doubtful Accounts
The following table represents a rollforward of the allowance for credit losses related to trade receivables for the years ended December 31, 2025, 2024 and 2023:

Years Ended December 31,
(in millions)202520242023
Allowance balance, beginning of year$2.3 $3.3 $2.3 
Provision2.1 0.9 1.6 
Write offs(0.7)(1.8)(0.6)
Recoveries and other— (0.1)— 
Allowance balance, end of year$3.7 $2.3 $3.3 
Schedule of Property, Plant and Equipment
Property and equipment are primarily depreciated over the following useful lives:

Years
Buildings and improvements
5 - 40
Airplanes and aviation equipment
5 - 20
Machinery, equipment and tooling
3 - 10
Furniture and fixtures
5 - 10
Computer hardware and software
3 - 5
Property and equipment at cost, less accumulated depreciation, is as follows:

December 31,
(in millions)20252024
Land$15.5 $12.3 
Building and land improvements173.9 158.8 
Construction in progress15.5 3.9 
Manufacturing and office equipment288.9 266.7 
Aviation equipment13.5 4.6 
Less accumulated depreciation(285.0)(264.4)
Total$222.3 $181.9 
Schedule of Intangible Assets
Intangible assets with definite lives are amortized on a straight-line basis over the following estimated useful lives:
Years
Dealer network and customer relationships
8 - 18
Trade names
3 - 10
Other
3 - 12
Intangible assets consisted of the following as of December 31, 2025 and 2024:

20252024
(in millions)Gross Carrying ValueAccumulated AmortizationNet Carrying ValueGross Carrying ValueAccumulated AmortizationNet Carrying Value
Dealer network and customer relationships$151.8 $44.5 $107.3 $41.4 $32.0 $9.4 
Trade names18.2 10.8 7.4 10.3 10.3 — 
Other24.6 14.8 9.8 14.8 13.0 1.8 
Total$194.6 $70.1 $124.5 $66.5 $55.3 $11.2 
Schedule of Computation of Earnings Per Share
The following table sets forth a reconciliation of the number of shares used in the computation of basic and diluted earnings per share:

Years Ended December 31,
202520242023
Denominator:
Denominator for basic earnings per share22,873,536 22,799,071 22,719,900 
Effect of dilutive securities:
Restricted stock units79,209 24,644 31,847 
Unvested performance share units141,108 13,743 3,144 
Deferred compensation programs6,653 15,993 26,478 
Denominator for diluted earnings per share23,100,506 22,853,451 22,781,369 
Antidilutive securities excluded from the calculation of diluted earnings per share539 26,710 7,495 
v3.25.4
Acquisition (Tables)
 12 Months Ended
Dec. 31, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Schedule of Business Combination, Recognized Asset Acquired and Liability Assumed
The following table summarizes the preliminary purchase price allocation for the Acquisition, which is subject to change as the Company continues to evaluate the fair value of the assets acquired and liabilities assumed:

(in millions)Amount
Payment to equity holders$176.6 
Payment of TerraSource's outstanding debt71.9 
Transaction expenses paid on behalf of the seller4.1 
Aggregate purchase consideration252.6 
Identifiable assets acquired:
Cash, cash equivalents and restricted cash3.9 
Trade receivables, contract assets and other receivables, net21.4 
Inventories58.4 
Other current assets11.0 
Property and equipment, net20.4 
Intangible assets, net127.2 
Other long-term assets6.3 
Total assets acquired248.6 
Identifiable liabilities assumed:
Current liabilities47.2 
Long-term liabilities35.2 
Total liabilities assumed82.4 
Total identifiable net assets166.2 
Goodwill$86.4 
Schedule of Business Combination, Intangible Asset, Acquired, Finite-Lived
The following table summarizes the identifiable definite-lived intangible assets acquired. All intangible assets acquired in the TerraSource acquisition are subject to amortization:

(in millions except useful lives)Fair ValueEstimated Useful Life (in years)
Trade Names$7.8 10
Patents5.0 10
Customer Relationships110.0 10
Other4.4 
3 - 5
Total identifiable definite-lived intangible assets acquired$127.2 
Schedule of Business Combination, Pro Forma Information
Year Ended December 31,
(in millions)20252024
Revenue$1,477.3 $1,464.5 
Net income (loss)$42.1 $(19.4)
v3.25.4
Inventories (Tables)
 12 Months Ended
Dec. 31, 2025
Inventory Disclosure [Abstract]  
Schedule of Inventory
Inventories consist of the following:

December 31,
(in millions)20252024
Raw materials and parts$309.6 $275.4 
Work-in-process70.6 60.9 
Finished goods76.6 83.5 
Used equipment9.2 2.9 
Total$466.0 $422.7 
v3.25.4
Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Schedule of Assets and Liabilities Measured at Fair Value
As indicated in the tables below, the Company has determined that all of its financial assets and liabilities as of December 31, 2025 and 2024 are Level 1 and Level 2 in the fair value hierarchy as defined above:

December 31, 2025
(in millions)Level 1Level 2Total
Financial assets:
Trading equity securities:
Deferred compensation programs' mutual funds$5.9 $— $5.9 
Preferred stocks0.3 — 0.3 
Equity funds0.6 — 0.6 
Trading debt securities:
Corporate bonds3.6 — 3.6 
Agency bonds— 0.9 0.9 
U.S. government securities2.4 — 2.4 
Asset-backed securities— 8.5 8.5 
Exchange traded funds0.4 — 0.4 
Mortgage backed securities— 0.3 0.3 
Other— 0.3 0.3 
Total financial assets$13.2 $10.0 $23.2 
Financial liabilities:
Deferred compensation programs' liabilities$— $6.7 $6.7 
Total financial liabilities$— $6.7 $6.7 

December 31, 2024
(in millions)Level 1Level 2Total
Financial assets:
Trading equity securities:
Deferred compensation programs' mutual funds$5.1 $— $5.1 
Preferred stocks0.3 — 0.3 
Equity funds0.6 — 0.6 
Trading debt securities:
Corporate bonds3.2 — 3.2 
Agency bonds— 1.5 1.5 
U.S. government securities2.4 — 2.4 
Asset-backed securities— 7.1 7.1 
Exchange traded funds0.8 — 0.8 
Mortgage backed securities— 0.4 0.4 
Other0.2 0.3 0.5 
Total financial assets$12.6 $9.3 $21.9 
Financial liabilities:
Deferred compensation programs' liabilities— 6.1 6.1 
Total financial liabilities$— $6.1 $6.1 
v3.25.4
Investments (Tables)
 12 Months Ended
Dec. 31, 2025
Investments, Debt and Equity Securities [Abstract]  
Schedule of Trading Securities
The Company's trading securities consist of the following:

December 31, 2025
(in millions)Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value (Net Carrying Amount)
Trading equity securities$5.9 $0.9 $— $6.8 
Trading debt securities16.4 0.1 0.1 16.4 
Total$22.3 $1.0 $0.1 $23.2 
December 31, 2024
(in millions)Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value (Net Carrying Amount)
Trading equity securities$5.5 $0.5 $— $6.0 
Trading debt securities16.3 — 0.4 15.9 
Total$21.8 $0.5 $0.4 $21.9 
v3.25.4
Goodwill (Tables)
 12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill by Reporting Segment
(in millions)Infrastructure SolutionsMaterials SolutionsTotal
Balance, December 31, 2023:
Goodwill$48.0 $32.3 $80.3 
Accumulated impairment(21.8)(12.2)(34.0)
Net$26.2 $20.1 $46.3 
2024 Activity:
Foreign currency translation$(1.2)$0.1 $(1.1)
Impairment— (20.2)(20.2)
Total 2024 activity
$(1.2)$(20.1)$(21.3)
Balance, December 31, 2024:
Goodwill$46.8 $32.2 $79.0 
Accumulated impairment(21.8)(32.2)(54.0)
Net$25.0 $— $25.0 
2025 Activity:
Foreign currency translation$0.7 $(0.3)$0.4 
Acquisitions— 86.4 86.4 
Total 2025 activity
$0.7 $86.1 $86.8 
Balance, December 31, 2025:
Goodwill$47.5 $119.3 $166.8 
Accumulated impairment(21.8)(33.2)(55.0)
Net$25.7 $86.1 $111.8 
v3.25.4
Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Intangible Assets
Intangible assets with definite lives are amortized on a straight-line basis over the following estimated useful lives:
Years
Dealer network and customer relationships
8 - 18
Trade names
3 - 10
Other
3 - 12
Intangible assets consisted of the following as of December 31, 2025 and 2024:

20252024
(in millions)Gross Carrying ValueAccumulated AmortizationNet Carrying ValueGross Carrying ValueAccumulated AmortizationNet Carrying Value
Dealer network and customer relationships$151.8 $44.5 $107.3 $41.4 $32.0 $9.4 
Trade names18.2 10.8 7.4 10.3 10.3 — 
Other24.6 14.8 9.8 14.8 13.0 1.8 
Total$194.6 $70.1 $124.5 $66.5 $55.3 $11.2 
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense
Future annual expected amortization expense on intangible assets as of December 31, 2025 are as follows (in millions):

(in millions)
2026$23.8 
202721.6 
202819.2 
202915.4 
203012.9 
2031 and thereafter31.6 
v3.25.4
Property and Equipment (Tables)
 12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
Schedule of Property and Equipment
Property and equipment are primarily depreciated over the following useful lives:

Years
Buildings and improvements
5 - 40
Airplanes and aviation equipment
5 - 20
Machinery, equipment and tooling
3 - 10
Furniture and fixtures
5 - 10
Computer hardware and software
3 - 5
Property and equipment at cost, less accumulated depreciation, is as follows:

December 31,
(in millions)20252024
Land$15.5 $12.3 
Building and land improvements173.9 158.8 
Construction in progress15.5 3.9 
Manufacturing and office equipment288.9 266.7 
Aviation equipment13.5 4.6 
Less accumulated depreciation(285.0)(264.4)
Total$222.3 $181.9 
v3.25.4
Leases (Tables)
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Schedule of Operating Lease Cost
Additional information related to the Company’s operating leases is reflected in the tables below:

Years Ended December 31,
(in millions)202520242023
Operating lease expense$4.5 $3.2 $3.6 
Short-term lease expense3.4 3.1 2.5 
Cash paid for operating leases included in operating cash flows4.5 3.2 3.6 
Schedule of Assets and Liabilities
December 31,
(in millions)20252024
Operating lease right-of-use asset$14.9 $7.8 
Operating lease short-term liability5.4 2.6 
Operating lease long-term liability9.7 5.5 
Weighted average remaining lease term (in years)3.173.61
Weighted average discount rate used in calculating right-of-use asset5.58 %5.04 %
Schedule of Future Minimum Lease Payments
Future annual minimum lease payments as of December 31, 2025 are as follows (in millions):

(in millions)
2026$6.1
20275.6
20282.6
20291.4
20300.5
2031 and thereafter0.3
Total lease payments$16.5
Less: Interest(1.4)
Operating lease liabilities$15.1
v3.25.4
Debt (Tables)
 12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Schedule of Line of Credit Facilities
Additional details for the 2025 Credit Facilities and the previous 2022 Credit Facilities are summarized below:

December 31, 2025December 31, 2024
(in millions, except maturity date)2025 Credit Facilities2022 Credit Facilities
Revolving Line of Credit
Line of credit - maximum$250.0 $250.0 
Letters of credit - maximum30.0 30.0 
Borrowings outstanding— 105.0 
Amount of letters of credit outstanding5.3 5.2 
Line of credit, additional borrowing capacity244.7 139.8 
Unamortized debt issuance costs
"Prepaid expenses and other assets"
0.9 0.3 
"Other long-term assets"
3.0 0.6 
Term Loan
Current maturities$17.5 
Long-term maturities323.8 
Maturity dateJuly 1, 2030
Unamortized debt issuance costs
"Current maturities of long-term debt"
1.3 
"Long-term debt"
4.2 
Details for the Company's international credit facilities are summarized below:

(in millions, except interest rates)December 31, 2025December 31, 2024
Total credit line$23.4 $23.4 
Available credit line11.4 9.5 
Letters of credit - maximum13.5 12.7 
Amount of letters of credit outstanding3.0 2.9 
Short-term debt12.1 13.3 
Weighted average interest rate
10.62%
9.02%
Schedule of Maturities of Long-Term Debt
Debt maturities for the Company's long-term debt are expected to be as follows:

(in millions)Maturity Amounts
2026$17.5
202721.9
202830.6
202935.0
2030236.3
v3.25.4
Product Warranty Reserves (Tables)
 12 Months Ended
Dec. 31, 2025
Product Warranties Disclosures [Abstract]  
Schedule of Product Warranty Reserves
Changes in the Company's product warranty liability during 2025, 2024 and 2023 are as follows:

(in millions)202520242023
Reserve balance, January 1$16.1 $16.5 $11.9 
Warranty liabilities accrued23.9 18.6 17.6 
Warranty liabilities settled(21.8)(18.9)(13.1)
Other1.1 (0.1)0.1 
Reserve balance, December 31$19.3 $16.1 $16.5 
v3.25.4
Accrued Loss Reserves (Tables)
 12 Months Ended
Dec. 31, 2025
Accrued Loss Reserves [Abstract]  
Schedule of Liability for Unpaid Claims and Claims Adjustment Expense
Liabilities related to the Company's accrued loss reserves consist of the following:

(in millions)December 31, 2025December 31, 2024
"Other current liabilities"
$1.8 $1.7 
"Other long-term liabilities"
5.1 4.6 
Total accrued loss reserves$6.9 $6.3 
v3.25.4
Employee Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2025
Retirement Benefits [Abstract]  
Schedule of Assets of Deferred Compensation Programs
Assets of the Deferred Compensation Programs consist of the following:

December 31, 2025December 31, 2024
(in millions)CostMarketCostMarket
Money market fund$0.7 $0.7 $0.7 $0.7 
Company stock0.2 0.1 0.3 0.3 
Equity securities5.0 5.9 4.6 5.1 
Total$5.9 $6.7 $5.6 $6.1 
v3.25.4
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Schedule of Income (Loss) Before Income Taxes
For financial reporting purposes, income before income taxes includes the following components:

Years Ended December 31,
(in millions)202520242023
United States$63.7 $25.9 $36.4 
Foreign(10.6)(12.0)6.4 
Income before income taxes$53.1 $13.9 $42.8 
Schedule of Provision for Income Tax
The provision for income taxes consists of the following:

Years Ended December 31,
(in millions)202520242023
Current provision:
Federal$7.8 $13.3 $8.2 
State2.5 0.9 4.5 
Foreign3.6 2.6 2.8 
Total current provision
13.9 16.8 15.5 
Deferred provision (benefit):
Federal3.6 (8.2)(3.6)
State— 0.8 (2.8)
Foreign(3.2)0.4 — 
Total deferred provision (benefit)
0.4 (7.0)(6.4)
Total provision:
Federal11.4 5.1 4.6 
State2.5 1.7 1.7 
Foreign0.4 3.0 2.8 
Total income tax provision
$14.3 $9.8 $9.1 
Schedule of Reconciliation of Provision for Income Taxes at Statutory Federal Income Tax Rate reconciliation of the provision for income taxes at the statutory federal income tax rate to the amount provided for the year ended December 31, 2025 is as follows:
(in millions, except percentage data)Year Ended December 31, 2025
Tax expense at the statutory federal income tax rate$11.2 21.0 %
State and local income tax, net of federal income tax effect (1)
2.0 3.8 %
Foreign tax effects
Brazil
Change in valuation allowances(1.2)(2.3)%
Other1.3 2.4 %
United Kingdom
Change in valuation allowances2.5 4.7 %
Other(0.1)(0.2)%
Other foreign jurisdictions0.1 0.2 %
Effect of cross-border tax laws
Foreign-derived intangible income(1.0)(1.9)%
Other(0.2)(0.4)%
Research and development tax credits(3.7)(7.0)%
Changes in valuation allowances0.3 0.6 %
Nontaxable or nondeductible items1.5 2.8 %
Changes in unrecognized tax benefits1.2 2.3 %
Other items (2)
0.4 0.9 %
Total income tax provision$14.3 26.9 %
(1) State taxes in Tennessee, Illinois, California, Pennsylvania, Maine, Michigan and New York made up the majority (greater than 50 percent) of the tax effect in this category.
(2) Calculation includes the impact of a rounding adjustment.

The reconciliations of the provision for income taxes at the statutory federal income tax rate to the amount provided for the years ended December 31, 2024 and 2023 is as follows:

Years Ended December 31,
(in millions)20242023
Tax expense at the statutory federal income tax rate$2.9 $8.9 
State income tax, net of federal income tax3.9 0.4 
Research and development tax credits(2.8)(2.8)
Impact of uncertain tax positions(0.5)1.0 
Valuation allowance impact1.7 0.3 
Changes in tax rates0.7 0.8 
Share-based compensation0.1 0.6 
Foreign-derived intangible income deduction(0.4)(0.7)
Foreign tax credit(0.4)(0.5)
Goodwill impairment2.9 — 
Other items1.7 1.1 
Total income tax provision$9.8 $9.1 
Schedule of Cash Flow, Supplemental Disclosures
Total cash paid for income taxes, net of refunds, disaggregated by jurisdiction for the year ended December 31, 2025 consists of the following:

(in millions)
Federal$12.1 
State4.9 
Foreign
Brazil1.1 
South Africa1.0 
Other foreign jurisdictions0.6 
Total cash paid for taxes$19.7 
Schedule of Significant Components of Company's Deferred Tax Assets and Liabilities Significant components of the Company's deferred tax assets and liabilities are as follows:
December 31,
(in millions)20252024
Deferred tax assets:
Amortization of research and experimental expenditures$21.9 $30.7 
Inventory reserves9.1 7.6 
Warranty reserves4.6 3.7 
Credit loss reserves0.9 0.5 
State tax loss carryforwards13.2 11.5 
Accrued vacation1.9 1.4 
Deferred compensation1.0 1.0 
Share-based compensation2.1 1.3 
Goodwill0.4 2.8 
Foreign net operating loss11.0 8.3 
Lease obligation3.4 1.6 
Employee & insurance accruals3.1 3.1 
Domestic credit carryforwards4.1 1.5 
Uncertain tax provision reserve1.2 1.1 
Deferred revenue0.5 0.9 
Valuation allowances(17.1)(12.4)
Other2.5 — 
Total deferred tax assets63.8 64.6 
Deferred tax liabilities:
Property and equipment17.3 15.8 
Intangibles23.6 0.9 
Right-of-use assets3.4 1.5 
Post-retirement benefits0.9 0.8 
Other— 2.2 
Total deferred tax liabilities45.2 21.2 
Total net deferred assets$18.6 $43.4 
Schedule of Rollforward of Deferred Tax Assets Valuation Allowance
The following table represents a rollforward of the deferred tax asset valuation allowance for the years ended December 31, 2025, 2024 and 2023:

Years Ended December 31,
(in millions)202520242023
Allowance balance, beginning of year$12.4 $12.5 $11.9 
Provision2.1 1.3 1.8 
Reversals(1.2)(1.5)(1.6)
Other3.8 0.1 0.4 
Allowance balance, end of year$17.1 $12.4 $12.5 
Schedule of Reconciliation of Unrecognized Tax Benefit
A reconciliation of the beginning and ending unrecognized tax benefits excluding interest and penalties is as follows:

Years Ended December 31,
(in millions)202520242023
Balance, beginning of year$16.8 $13.0 $12.0 
Additions for tax positions taken in current year1.1 5.2 0.9 
Additions for tax positions taken in prior period0.5 — 0.1 
Reductions due to lapse of statutes of limitations(4.3)(1.4)— 
Balance, end of year$14.1 $16.8 $13.0 
v3.25.4
Share-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2025
Stockholders' Equity Note [Abstract]  
Schedule of Changes in Restricted Stock Units
Changes in restricted stock units during the year ended December 31, 2025 are as follows:

(in thousands, except weighted average grant date fair value)Restricted Stock UnitsWeighted Average Grant Date Fair Value
Unvested as of January 1, 2025170 $39.58 
Granted237 $37.34 
Vested(87)$41.47 
Forfeited(11)$35.90 
Unvested as of December 31, 2025309 $37.45 
Schedule of Disclosure of Share-based Compensation Arrangements by Share-based Payment Award
The following additional activity occurred for the Company's restricted stock units:

Years Ended December 31,
(in millions, except weighted average grant date fair value per award granted)202520242023
Weighted average grant date fair value per award$37.34 $36.76 $43.50 
Fair value of awards vested and issued3.1 2.9 4.8 
Tax expense for restricted stock compensation expense(0.7)(0.7)(0.4)
The following additional activity occurred for the Company's performance stock units:

Years Ended December 31,
(in millions, except weighted average grant date fair value per award granted)202520242023
Weighted average grant date fair value per award$33.16 $36.62 $43.19 
Fair value of awards vested and issued (2)
— — 1.6 
Tax expense for performance stock compensation expense— — (1.0)
(2) As noted above, in accordance with the terms of the underlying PSU award agreements, no shares were earned and distributed for the performance period ended during 2025.
Schedule of Share-based Payment Arrangement, Performance Shares, Activity
Changes in PSUs during the year ended December 31, 2025 are as follows:

(in thousands, except weighted average grant date fair value)Performance Stock UnitsWeighted Average Grant Date Fair Value
Unvested as of January 1, 2025151 $41.56 
Granted135 $33.16 
Vested (1)
(22)$51.63 
Forfeited(14)$37.94 
Unvested as of December 31, 2025250 $36.36 
(1) The vested PSUs presented are based on the target amount of the award. In accordance with the terms of the underlying award agreements, no shares were earned and distributed for the performance period ended during 2025.
v3.25.4
Revenue Recognition (Tables)
 12 Months Ended
Dec. 31, 2025
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregation of Revenue
The following tables disaggregate the Company's revenue by major source for the periods ended December 31, 2025, 2024 and 2023 (excluding intercompany sales):

For the Year Ended December 31, 2025
(in millions)Infrastructure SolutionsMaterials SolutionsTotal
Net Sales-Domestic:
Equipment sales$510.7 $209.4 $720.1 
Parts and component sales231.0 112.2 343.2 
Service and equipment installation revenue28.3 7.2 35.5 
Used equipment sales2.3 0.2 2.5 
Freight revenue25.7 7.0 32.7 
Other2.5 (6.3)(3.8)
Total domestic revenue800.5 329.7 1,130.2 
Net Sales-International:
Equipment sales39.2 133.4 172.6 
Parts and component sales15.7 73.8 89.5 
Service and equipment installation revenue0.8 12.9 13.7 
Used equipment sales— 0.2 0.2 
Freight revenue1.1 2.9 4.0 
Other0.1 0.1 0.2 
Total international revenue56.9 223.3 280.2 
Total net sales$857.4 $553.0 $1,410.4 

For the Year Ended December 31, 2024
(in millions)Infrastructure SolutionsMaterials SolutionsTotal
Net Sales-Domestic:
Equipment sales$510.9 $150.3 $661.2 
Parts and component sales220.3 80.8 301.1 
Service and equipment installation revenue23.5 0.8 24.3 
Used equipment sales3.4 — 3.4 
Freight revenue22.7 6.6 29.3 
Other2.3 (6.2)(3.9)
Total domestic revenue783.1 232.3 1,015.4 
Net Sales-International:
Equipment sales32.7 154.2 186.9 
Parts and component sales19.7 67.4 87.1 
Service and equipment installation revenue0.9 11.2 12.1 
Used equipment sales— 0.4 0.4 
Freight revenue0.9 2.5 3.4 
Other0.1 (0.3)(0.2)
Total international revenue54.3 235.4 289.7 
Total net sales$837.4 $467.7 $1,305.1 
For the Year Ended December 31, 2023
(in millions)Infrastructure SolutionsMaterials SolutionsTotal
Net Sales-Domestic:
Equipment sales$461.2 $252.5 $713.7 
Parts and component sales215.9 83.7 299.6 
Service and equipment installation revenue43.5 0.8 44.3 
Used equipment sales3.6 — 3.6 
Freight revenue22.6 8.0 30.6 
Other1.9 (10.3)(8.4)
Total domestic revenue748.7 334.7 1,083.4 
Net Sales-International:
Equipment sales30.5 125.7 156.2 
Parts and component sales18.7 62.4 81.1 
Service and equipment installation revenue1.3 11.9 13.2 
Used equipment sales— 0.2 0.2 
Freight revenue1.0 2.8 3.8 
Other0.2 0.1 0.3 
Total international revenue51.7 203.1 254.8 
Total net sales$800.4 $537.8 $1,338.2 
v3.25.4
Operations by Industry Segment and Geographic Area (Tables)
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Schedule of Significant Reportable Segment Expenses
Information for the Company's reportable segments are set forth below:

Year Ended December 31, 2025
(in millions)Infrastructure SolutionsMaterials SolutionsTotal
Reportable segment revenues:
Revenues from external customers$857.4 $553.0 $1,410.4 
Intersegment revenues36.0 4.9 40.9 
Total revenues - reportable segments$893.4 $557.9 $1,451.3 
Significant reportable segment expenses:
Manufacturing operation costs:
Equipment$381.4 $246.5 $627.9 
Parts120.1 97.8 217.9 
Other100.9 56.2 157.1 
General and administrative55.3 42.5 97.8 
Sales and marketing44.3 34.4 78.7 
Quality costs (1)
23.2 10.7 33.9 
Research and development17.4 9.5 26.9 
Inventory period costs (2)
17.4 5.8 23.2 
Other segment items (3)
(0.9)(1.1)(2.0)
Reportable Segment Operating Adjusted EBITDA$134.3 $55.6 $189.9 
Reportable segment assets and capital expenditures:
Assets$1,210.4 $1,147.7 $2,358.1 
Capital expenditures25.1 6.1 31.2 
(1) Quality costs related to repair or other remediation expenses incurred for corrective action on product failures covered by warranties or voluntarily for certain warranty-type expenses occurring after the normal warranty period expires to help protect the reputation of the Company's products and maintain the goodwill of customers.
(2) Inventory period costs primarily relate to inventory reserves and adjustments and net scrap sales.
(3) Other segment items consists of foreign exchange gains and losses, investment income and loss and other income and expense amounts that are included in Segment Operating Adjusted EBITDA that are not considered to be significant segment expenses.
Year Ended December 31, 2024
(in millions)Infrastructure SolutionsMaterials SolutionsTotal
Reportable segment revenues:
Revenues from external customers$837.4 $467.7 $1,305.1 
Intersegment revenues48.3 7.0 55.3 
Total revenues - reportable segments$885.7 $474.7 $1,360.4 
Significant reportable segment expenses:
Manufacturing operation costs:
Equipment$397.8 $231.0 $628.8 
Parts121.5 80.7 202.2 
Other104.8 41.0 145.8 
General and administrative52.4 28.0 80.4 
Sales and marketing44.3 28.1 72.4 
Quality costs (1)
17.3 12.3 29.6 
Research and development16.1 7.7 23.8 
Inventory period costs (2)
10.3 7.8 18.1 
Other segment items (3)
(0.3)0.9 0.6 
Reportable Segment Operating Adjusted EBITDA$121.5 $37.2 $158.7 
Reportable segment assets and capital expenditures:
Assets$1,095.8 $772.3 $1,868.1 
Capital expenditures15.0 5.2 20.2 
(1) Quality costs related to repair or other remediation expenses incurred for corrective action on product failures covered by warranties or voluntarily for certain warranty-type expenses occurring after the normal warranty period expires to help protect the reputation of the Company's products and maintain the goodwill of customers.
(2) Inventory period costs primarily relate to inventory reserves and adjustments and net scrap sales.
(3) Other segment items consists of foreign exchange gains and losses, investment income and loss and other income and expense amounts that are included in Segment Operating Adjusted EBITDA that are not considered to be significant segment expenses.
Year Ended December 31, 2023
(in millions)Infrastructure SolutionsMaterials SolutionsTotal
Reportable segment revenues:
Revenues from external customers$800.4 $537.8 $1,338.2 
Intersegment revenues37.8 1.0 38.8 
Total revenues - reportable segments$838.2 $538.8 $1,377.0 
Significant reportable segment expenses:
Manufacturing operation costs:
Equipment$408.5 $274.4 $682.9 
Parts121.9 82.1 204.0 
Other65.8 41.8 107.6 
General and administrative53.5 39.2 92.7 
Sales and marketing44.6 27.6 72.2 
Quality costs (1)
15.1 12.1 27.2 
Research and development15.1 6.7 21.8 
Inventory period costs (2)
11.3 4.9 16.2 
Other segment items (3)
— (0.7)(0.7)
Reportable Segment Operating Adjusted EBITDA$102.4 $50.7 $153.1 
Reportable segment assets and capital expenditures:
Assets$1,041.5 $800.2 $1,841.7 
Capital expenditures24.8 8.9 33.7 
(1) Quality costs related to repair or other remediation expenses incurred for corrective action on product failures covered by warranties or voluntarily for certain warranty-type expenses occurring after the normal warranty period expires to help protect the reputation of the Company's products and maintain the goodwill of customers.
(2) Inventory period costs primarily relate to inventory reserves and adjustments and net scrap sales.
(3) Other segment items consists of foreign exchange gains and losses, investment income and loss and other income and expense amounts that are included in Segment Operating Adjusted EBITDA that are not considered to be significant segment expenses.
Schedule of Totals Segment Information for all Reportable Segments Reconciled to Consolidated Totals
Reconciliations for the Company's reportable segment information are set forth below:

Years Ended December 31,
(in millions)202520242023
Reconciliation of reportable segment revenues to "Net sales"
Total revenues - reportable segments$1,451.3 $1,360.4 $1,377.0 
Elimination of intersegment revenues(40.9)(55.3)(38.8)
Net sales$1,410.4 $1,305.1 $1,338.2 
Reconciliation of Reportable Segment Operating Adjusted EBITDA to "Income before income taxes"
Segment Operating Adjusted EBITDA - reportable segments$189.9 $158.7 $153.1 
Corporate and Other expenses(49.2)(46.9)(43.1)
Transformation program(19.6)(32.8)(29.2)
Restructuring and other related charges0.2 (9.5)(7.7)
Goodwill impairment— (20.2)— 
Asset impairment— — (1.2)
Gain on sale of property, equipment and business, net0.2 1.1 3.1 
Acquisition and integration costs(16.9)(0.8)— 
Interest expense, net(15.2)(8.7)(6.8)
Depreciation and amortization(36.3)(26.8)(25.6)
Net income (loss) attributable to noncontrolling interest— (0.2)0.2 
Income before income taxes$53.1 $13.9 $42.8 
Reconciliation of reportable segment assets to "Total assets"
Total assets - reportable segments$2,358.1 $1,868.1 $1,841.7 
Corporate and Other1,133.0 864.4 770.9 
Elimination of intercompany receivables(1,304.6)(1,121.1)(999.4)
Elimination of investment in subsidiaries(775.6)(522.9)(521.5)
Other(43.7)(44.9)(32.4)
Total assets$1,367.2 $1,043.6 $1,059.3 
Reconciliation of reportable segment capital expenditures to "Expenditures for property and equipment"
Total capital expenditures - reportable segments$31.2 $20.2 $33.7 
Corporate and Other9.5 0.3 0.4 
Total capital expenditures$40.7 $20.5 $34.1 
Schedule of Reconciliation of Assets from Segment to Consolidated Totals
Reconciliations for the Company's reportable segment information are set forth below:

Years Ended December 31,
(in millions)202520242023
Reconciliation of reportable segment revenues to "Net sales"
Total revenues - reportable segments$1,451.3 $1,360.4 $1,377.0 
Elimination of intersegment revenues(40.9)(55.3)(38.8)
Net sales$1,410.4 $1,305.1 $1,338.2 
Reconciliation of Reportable Segment Operating Adjusted EBITDA to "Income before income taxes"
Segment Operating Adjusted EBITDA - reportable segments$189.9 $158.7 $153.1 
Corporate and Other expenses(49.2)(46.9)(43.1)
Transformation program(19.6)(32.8)(29.2)
Restructuring and other related charges0.2 (9.5)(7.7)
Goodwill impairment— (20.2)— 
Asset impairment— — (1.2)
Gain on sale of property, equipment and business, net0.2 1.1 3.1 
Acquisition and integration costs(16.9)(0.8)— 
Interest expense, net(15.2)(8.7)(6.8)
Depreciation and amortization(36.3)(26.8)(25.6)
Net income (loss) attributable to noncontrolling interest— (0.2)0.2 
Income before income taxes$53.1 $13.9 $42.8 
Reconciliation of reportable segment assets to "Total assets"
Total assets - reportable segments$2,358.1 $1,868.1 $1,841.7 
Corporate and Other1,133.0 864.4 770.9 
Elimination of intercompany receivables(1,304.6)(1,121.1)(999.4)
Elimination of investment in subsidiaries(775.6)(522.9)(521.5)
Other(43.7)(44.9)(32.4)
Total assets$1,367.2 $1,043.6 $1,059.3 
Reconciliation of reportable segment capital expenditures to "Expenditures for property and equipment"
Total capital expenditures - reportable segments$31.2 $20.2 $33.7 
Corporate and Other9.5 0.3 0.4 
Total capital expenditures$40.7 $20.5 $34.1 
Schedule of Sales into Major Geographic Regions
"Net sales" into major geographic regions, attributable to the shipping location or the location where service was performed, were as follows:

Years Ended December 31,
(in millions)202520242023
United States$1,130.2 $1,015.4 $1,083.4 
Canada69.8 67.4 58.5 
Australia and Oceania41.9 52.3 55.7 
Africa39.6 40.5 36.6 
Brazil35.9 32.9 27.0 
Other European Countries24.6 23.7 26.2 
South America (excluding Brazil)22.1 17.8 19.8 
Other Asian Countries13.5 12.3 7.7 
Mexico9.2 23.8 8.4 
Japan and Korea7.2 — 0.3 
West Indies5.5 3.8 2.5 
Middle East3.6 1.8 4.9 
Post-Soviet States (excluding Russia)3.0 7.2 2.5 
India2.4 0.6 0.6 
Central America (excluding Mexico)1.9 5.6 4.1 
Total foreign280.2 289.7 254.8 
Total consolidated sales$1,410.4 $1,305.1 $1,338.2 
Schedule of Long-Lived Assets by Major Geographic Region
"Property and equipment, net" by major geographic region is as follows:

December 31,
(in millions)20252024
United States$185.6 $148.2 
United Kingdom17.0 16.5 
Brazil5.8 4.9 
South Africa5.0 4.1 
Australia4.3 4.0 
Canada 3.7 3.9 
Other0.9 0.3 
Total foreign36.7 33.7 
Total property and equipment, net$222.3 $181.9 
v3.25.4
Other Income and Expenses, net (Tables)
 12 Months Ended
Dec. 31, 2025
Other Income and Expenses [Abstract]  
Schedule of Other Income, Net of Expenses
Other income (expenses), net, consists of the following:

Years Ended December 31,
(in millions)202520242023
Foreign exchange gains (losses), net$0.9 $(1.2)$0.7 
Investment income, net0.3 — 0.2 
Other, net1.2 0.6 0.1 
Total$2.4 $(0.6)$1.0 
v3.25.4
Strategic Transformation and Restructuring, Impairment and Other Asset (Gains) Charges, net (Tables)
 12 Months Ended
Dec. 31, 2025
Restructuring and Related Activities [Abstract]  
Schedule of Costs Associated With Strategic Transformation Programs
Costs associated with these strategic transformation programs are presented below:

Years Ended December 31,
(in millions)202520242023
Strategic transformation programs
"Selling, general and administrative expenses"$19.6 $33.0 $29.4 
"Cost of sales"0.1 0.5 0.3 
Total costs related to strategic transformation initiatives$19.7 $33.5 $29.7 
Amortization of capitalized implementation costs (1)
$3.7 $3.6 $1.9 
(1) Amortization of capitalized implementation costs is recorded in "Selling, general and administrative expenses" in the Consolidated Statements of Operations.
Schedule of Restructuring and Asset Impairment Charges
Restructuring, impairment and other asset (gains) charges, net incurred in 2025, 2024 and 2023 are as follows:

Years Ended December 31,
(in millions)202520242023
Restructuring (gains) charges, net:
(Gains) charges associated with exited operations – Enid$(0.2)$8.6 $0.4 
Workforce reductions— 0.9 — 
Charges associated with leadership change and overhead restructuring — — 7.3 
Total restructuring related (gains) charges, net(0.2)9.5 7.7 
Asset impairment charges:
Other impairment charges— — 1.2 
Total asset impairment charges— — 1.2 
Gain on sale of property and equipment, net:
Gain on sale of property and equipment, net(0.2)(1.1)(3.1)
Total gain on sale of property and equipment, net(0.2)(1.1)(3.1)
Restructuring, impairment and other asset (gains) charges, net$(0.4)$8.4 $5.8 

Net restructuring (gains) charges by reportable segment and the Corporate and Other category are as follows:

Years Ended December 31,
(in millions)202520242023
Infrastructure Solutions$(0.2)$9.0 $0.5 
Materials Solutions— 0.3 — 
Corporate and Other— 0.2 7.2 
Total restructuring related (gains) charges, net$(0.2)$9.5 $7.7 
Schedule of Asset Impairment Charges
Impairment charges by reportable segment and the Corporate and Other category are as follows:

Years Ended December 31,
(in millions)202520242023
Infrastructure Solutions$— $— $0.4 
Corporate and Other— — 0.8 
Total impairment charges$— $— $1.2 
Schedule of Fixed Asset Sales
The (gains) losses on sale of property and equipment by reportable segment are as follows:

Years Ended December 31,
(in millions)202520242023
Infrastructure Solutions$(0.2)$(0.3)$(3.1)
Materials Solutions0.1 (0.8)— 
Corporate and Other(0.1)— — 
Total gain on sale of property and equipment, net$(0.2)$(1.1)$(3.1)
v3.25.4
Business and Organization (Details)
 12 Months Ended
Dec. 31, 2025
segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Number of reportable segments 2
v3.25.4
Basis of Presentation and Significant Accounting Policies - Narrative (Details)
$ in Thousands, R$ in Millions
 1 Months Ended 3 Months Ended 12 Months Ended
Feb. 28, 2022
BRL (R$)
Dec. 31, 2024
USD ($)
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Product Information [Line Items]          
Noncontrolling interest, estimated decrease from redemptions or purchase of interests R$ 10.0   $ 2,000    
Restricted cash   $ 2,500 2,000 $ 2,500  
Other receivables, net current   3,300 4,500 3,300  
Foreign currency translation adjustment   51,100 40,600 51,100  
Revenue from contract with customer, total orders     29,500 24,500 $ 16,000
Advertising expense     2,300 2,100 1,800
Research and development expense     26,900 23,800 22,000
Derivative asset   0 0 0  
Derivative liabilities   0 0 0  
Income tax provision     $ 14,300 9,800 9,100
Astec do Brasil Fabricacao de Equipamentos LTDA          
Product Information [Line Items]          
Consolidation less than wholly owned subsidiary parent ownership percentage     93.00%    
Adjustment          
Product Information [Line Items]          
Income tax provision   $ 2,700      
Nonoperating Income (Expense)          
Product Information [Line Items]          
Foreign currency transaction gain (loss), before tax     $ 1,600 (1,000) 1,100
Foreign Exchange Contract          
Product Information [Line Items]          
Average notional amount     4,800    
Foreign Exchange Contract | Not Designated as Hedging Instrument | Other Operating Income (Expense)          
Product Information [Line Items]          
Gain/(loss) of derivative financial instruments recognized in income, net     (700) $ (200) $ (400)
General Liability          
Product Information [Line Items]          
Amount captive is liable per occurrence of claims     1,000    
Workers' Compensation Insurance          
Product Information [Line Items]          
Amount captive is liable per occurrence of claims     $ 350    
Minimum          
Product Information [Line Items]          
Standard product warranty description     three months    
Maximum          
Product Information [Line Items]          
Standard product warranty description     two years    
Subsidiary          
Product Information [Line Items]          
Noncontrolling interest, ownership percentage by parent     7.00%    
v3.25.4
Basis of Presentation and Significant Accounting Policies - Schedule Of Allowance For Doubtful Accounts (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Accounts Receivable, Allowance for Credit Loss [Roll Forward]      
Allowance balance, beginning of year $ 2.3 $ 3.3 $ 2.3
Provision 2.1 0.9 1.6
Write offs (0.7) (1.8) (0.6)
Recoveries and other 0.0 (0.1) 0.0
Allowance balance, end of year $ 3.7 $ 2.3 $ 3.3
v3.25.4
Basis of Presentation and Significant Accounting Policies - Schedule of Estimated Useful Lives (Details)
Dec. 31, 2025
Minimum | Dealer network and customer relationships  
Property, Plant and Equipment [Line Items]  
Useful life of intangible assets 8 years
Minimum | Trade names  
Property, Plant and Equipment [Line Items]  
Useful life of intangible assets 3 years
Minimum | Other  
Property, Plant and Equipment [Line Items]  
Useful life of intangible assets 3 years
Minimum | Buildings and improvements  
Property, Plant and Equipment [Line Items]  
Property, plant and equipment, useful life 5 years
Minimum | Airplanes and aviation equipment  
Property, Plant and Equipment [Line Items]  
Property, plant and equipment, useful life 5 years
Minimum | Machinery, equipment and tooling  
Property, Plant and Equipment [Line Items]  
Property, plant and equipment, useful life 3 years
Minimum | Furniture and fixtures  
Property, Plant and Equipment [Line Items]  
Property, plant and equipment, useful life 5 years
Minimum | Computer hardware and software  
Property, Plant and Equipment [Line Items]  
Property, plant and equipment, useful life 3 years
Maximum | Dealer network and customer relationships  
Property, Plant and Equipment [Line Items]  
Useful life of intangible assets 18 years
Maximum | Trade names  
Property, Plant and Equipment [Line Items]  
Useful life of intangible assets 10 years
Maximum | Other  
Property, Plant and Equipment [Line Items]  
Useful life of intangible assets 12 years
Maximum | Buildings and improvements  
Property, Plant and Equipment [Line Items]  
Property, plant and equipment, useful life 40 years
Maximum | Airplanes and aviation equipment  
Property, Plant and Equipment [Line Items]  
Property, plant and equipment, useful life 20 years
Maximum | Machinery, equipment and tooling  
Property, Plant and Equipment [Line Items]  
Property, plant and equipment, useful life 10 years
Maximum | Furniture and fixtures  
Property, Plant and Equipment [Line Items]  
Property, plant and equipment, useful life 10 years
Maximum | Computer hardware and software  
Property, Plant and Equipment [Line Items]  
Property, plant and equipment, useful life 5 years
v3.25.4
Basis of Presentation and Significant Accounting Policies - Schedule of Earnings Per Share Basic and Diluted (Details) - shares
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Denominator:      
Denominator for basic earnings per share (in shares) 22,873,536 22,799,071 22,719,900
Effect of dilutive securities:      
Deferred compensation programs (in shares) 6,653 15,993 26,478
Denominator for diluted earnings per share (in shares) 23,100,506 22,853,451 22,781,369
Antidilutive securities excluded from the calculation of diluted earnings per share (in shares) 539 26,710 7,495
Restricted Stock      
Effect of dilutive securities:      
Unvested stock units (in shares) 79,209 24,644 31,847
Performance Shares      
Effect of dilutive securities:      
Unvested stock units (in shares) 141,108 13,743 3,144
v3.25.4
Acquisition - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Jul. 01, 2025
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Business Combination [Line Items]        
Net sales   $ 1,410.4 $ 1,305.1 $ 1,338.2
Net (loss) income   38.8 4.1 $ 33.7
TerraSource Holdings LLC        
Business Combination [Line Items]        
Equity interests acquired, percent 100.00%      
Aggregate purchase consideration $ 252.6      
Goodwill, expected tax deductible $ 17.4      
Net sales   84.7    
Net (loss) income   (2.7)    
TerraSource Holdings LLC | "Cost of sales"        
Business Combination [Line Items]        
Transactions cost   7.4    
TerraSource Holdings LLC | "Selling, general and administrative expenses"        
Business Combination [Line Items]        
Acquisition and integration related costs   $ 5.9 $ 0.8  
v3.25.4
Acquisition - Schedule of Business Combination, Recognized Asset Acquired and Liability Assumed (Details) - USD ($)
$ in Millions
Jul. 01, 2025
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Identifiable assets acquired:        
Goodwill   $ 111.8 $ 25.0 $ 46.3
TerraSource Holdings LLC        
Business Combination [Line Items]        
Payment to equity holders $ 176.6      
Payment of TerraSource's outstanding debt 71.9      
Transaction expenses paid on behalf of the seller 4.1      
Aggregate purchase consideration 252.6      
Identifiable assets acquired:        
Cash, cash equivalents and restricted cash 3.9      
Trade receivables, contract assets and other receivables, net 21.4      
Inventories 58.4      
Other current assets 11.0      
Property and equipment, net 20.4      
Intangible assets, net 127.2      
Other long-term assets 6.3      
Total assets acquired 248.6      
Current liabilities 47.2      
Long-term liabilities 35.2      
Total liabilities assumed 82.4      
Total identifiable net assets 166.2      
Goodwill $ 86.4      
v3.25.4
Acquisition - Schedule of Business Combination, Intangible Asset, Acquired, Finite-Lived (Details) - TerraSource Holdings LLC
$ in Millions
Jul. 01, 2025
USD ($)
Business Combination [Line Items]  
Fair Value $ 127.2
Trade Names  
Business Combination [Line Items]  
Fair Value $ 7.8
Estimated Useful Life (in years) 10 years
Patents  
Business Combination [Line Items]  
Fair Value $ 5.0
Estimated Useful Life (in years) 10 years
Customer Relationships  
Business Combination [Line Items]  
Fair Value $ 110.0
Estimated Useful Life (in years) 10 years
Other  
Business Combination [Line Items]  
Fair Value $ 4.4
Other | Minimum  
Business Combination [Line Items]  
Estimated Useful Life (in years) 3 years
Other | Maximum  
Business Combination [Line Items]  
Estimated Useful Life (in years) 5 years
v3.25.4
Acquisition - Schedule of Business Combination, Pro Forma Information (Details) - TerraSource Holdings LLC - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Business Combination [Line Items]    
Revenue $ 1,477.3 $ 1,464.5
Net income (loss) $ 42.1 $ (19.4)
v3.25.4
Inventories (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Inventory Disclosure [Abstract]    
Raw materials and parts $ 309.6 $ 275.4
Work-in-process 70.6 60.9
Finished goods 76.6 83.5
Used equipment 9.2 2.9
Total $ 466.0 $ 422.7
v3.25.4
Fair Value Measurements (Details) - Measured at Fair Value on a Recurring Basis - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Financial Assets [Abstract]    
Total financial assets $ 23.2 $ 21.9
Financial liabilities:    
Deferred compensation programs' liabilities 6.7 6.1
Total financial liabilities 6.7 6.1
Corporate bonds    
Financial Assets [Abstract]    
Trading debt securities 3.6 3.2
Agency bonds    
Financial Assets [Abstract]    
Trading debt securities 0.9 1.5
U.S. government securities    
Financial Assets [Abstract]    
Trading debt securities 2.4 2.4
Asset-backed securities    
Financial Assets [Abstract]    
Trading debt securities 8.5 7.1
Exchange traded funds    
Financial Assets [Abstract]    
Trading debt securities 0.4 0.8
Mortgage backed securities    
Financial Assets [Abstract]    
Trading debt securities 0.3 0.4
Other    
Financial Assets [Abstract]    
Trading debt securities 0.3 0.5
Preferred stocks    
Financial Assets [Abstract]    
Trading equity securities 0.3 0.3
Equity funds    
Financial Assets [Abstract]    
Trading equity securities 0.6 0.6
Supplemental Employee Retirement Plan | Deferred compensation programs' mutual funds    
Financial Assets [Abstract]    
Trading equity securities 5.9 5.1
Level 1    
Financial Assets [Abstract]    
Total financial assets 13.2 12.6
Financial liabilities:    
Deferred compensation programs' liabilities 0.0 0.0
Total financial liabilities 0.0 0.0
Level 1 | Corporate bonds    
Financial Assets [Abstract]    
Trading debt securities 3.6 3.2
Level 1 | Agency bonds    
Financial Assets [Abstract]    
Trading debt securities 0.0 0.0
Level 1 | U.S. government securities    
Financial Assets [Abstract]    
Trading debt securities 2.4 2.4
Level 1 | Asset-backed securities    
Financial Assets [Abstract]    
Trading debt securities 0.0 0.0
Level 1 | Exchange traded funds    
Financial Assets [Abstract]    
Trading debt securities 0.4 0.8
Level 1 | Mortgage backed securities    
Financial Assets [Abstract]    
Trading debt securities 0.0 0.0
Level 1 | Other    
Financial Assets [Abstract]    
Trading debt securities 0.0 0.2
Level 1 | Preferred stocks    
Financial Assets [Abstract]    
Trading equity securities 0.3 0.3
Level 1 | Equity funds    
Financial Assets [Abstract]    
Trading equity securities 0.6 0.6
Level 1 | Supplemental Employee Retirement Plan | Deferred compensation programs' mutual funds    
Financial Assets [Abstract]    
Trading equity securities 5.9 5.1
Level 2    
Financial Assets [Abstract]    
Total financial assets 10.0 9.3
Financial liabilities:    
Deferred compensation programs' liabilities 6.7 6.1
Total financial liabilities 6.7 6.1
Level 2 | Corporate bonds    
Financial Assets [Abstract]    
Trading debt securities 0.0 0.0
Level 2 | Agency bonds    
Financial Assets [Abstract]    
Trading debt securities 0.9 1.5
Level 2 | U.S. government securities    
Financial Assets [Abstract]    
Trading debt securities 0.0 0.0
Level 2 | Asset-backed securities    
Financial Assets [Abstract]    
Trading debt securities 8.5 7.1
Level 2 | Exchange traded funds    
Financial Assets [Abstract]    
Trading debt securities 0.0 0.0
Level 2 | Mortgage backed securities    
Financial Assets [Abstract]    
Trading debt securities 0.3 0.4
Level 2 | Other    
Financial Assets [Abstract]    
Trading debt securities 0.3 0.3
Level 2 | Preferred stocks    
Financial Assets [Abstract]    
Trading equity securities 0.0 0.0
Level 2 | Equity funds    
Financial Assets [Abstract]    
Trading equity securities 0.0 0.0
Level 2 | Supplemental Employee Retirement Plan | Deferred compensation programs' mutual funds    
Financial Assets [Abstract]    
Trading equity securities $ 0.0 $ 0.0
v3.25.4
Investments (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Trading Securities    
Amortized Cost    
Amortized Cost $ 22.3 $ 21.8
Gross Unrealized Gains and Losses    
Gross Unrealized Gains 1.0 0.5
Gross Unrealized Losses 0.1 0.4
Fair Value (Net Carrying Amount)    
Fair Value (Net Carrying Amount) 23.2 21.9
Trading equity securities    
Amortized Cost    
Amortized Cost 5.9 5.5
Gross Unrealized Gains and Losses    
Gross Unrealized Gains 0.9 0.5
Gross Unrealized Losses 0.0 0.0
Fair Value (Net Carrying Amount)    
Fair Value (Net Carrying Amount) 6.8 6.0
Trading debt securities    
Amortized Cost    
Amortized Cost 16.4 16.3
Gross Unrealized Gains and Losses    
Gross Unrealized Gains 0.1 0.0
Gross Unrealized Losses 0.1 0.4
Fair Value (Net Carrying Amount)    
Fair Value (Net Carrying Amount) $ 16.4 $ 15.9
v3.25.4
Goodwill - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Oct. 01, 2025
Oct. 01, 2024
Oct. 01, 2023
Sep. 30, 2025
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Goodwill [Line Items]              
Goodwill impairment $ 0.0 $ 0.0 $ 0.0   $ 0.0 $ 20.2 $ 0.0
Acquisitions       $ 86.4 $ 86.4    
Materials Solutions              
Goodwill [Line Items]              
Goodwill impairment           $ 20.2  
v3.25.4
Goodwill - Schedule of Goodwill by Reporting Segment (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Oct. 01, 2025
Oct. 01, 2024
Oct. 01, 2023
Sep. 30, 2025
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Goodwill [Abstract]              
Goodwill         $ 166.8 $ 79.0 $ 80.3
Accumulated impairment         (55.0) (54.0) (34.0)
Net         111.8 25.0 46.3
Foreign currency translation         0.4 (1.1)  
Acquisitions       $ 86.4 86.4    
Impairment $ 0.0 $ 0.0 $ 0.0   0.0 (20.2) 0.0
Goodwill, period increase (decrease)         86.8 (21.3)  
Operating Segments              
Goodwill [Abstract]              
Impairment         0.0 (20.2) 0.0
Infrastructure Solutions              
Goodwill [Abstract]              
Acquisitions         0.0    
Impairment           0.0  
Infrastructure Solutions | Operating Segments              
Goodwill [Abstract]              
Goodwill         47.5 46.8 48.0
Accumulated impairment         (21.8) (21.8) (21.8)
Net         25.7 25.0 26.2
Foreign currency translation         0.7 (1.2)  
Goodwill, period increase (decrease)         0.7 (1.2)  
Materials Solutions              
Goodwill [Abstract]              
Acquisitions         86.4    
Impairment           (20.2)  
Materials Solutions | Operating Segments              
Goodwill [Abstract]              
Goodwill         119.3 32.2 32.3
Accumulated impairment         (33.2) (32.2) (12.2)
Net         86.1 0.0 $ 20.1
Foreign currency translation         (0.3) 0.1  
Goodwill, period increase (decrease)         $ 86.1 $ (20.1)  
v3.25.4
Intangible Assets - Schedule Of Intangible Assets (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Intangible assets [Abstract]    
Gross Carrying Value $ 194.6 $ 66.5
Accumulated Amortization 70.1 55.3
Net Carrying Value 124.5 11.2
Dealer network and customer relationships    
Intangible assets [Abstract]    
Gross Carrying Value 151.8 41.4
Accumulated Amortization 44.5 32.0
Net Carrying Value 107.3 9.4
Trade names    
Intangible assets [Abstract]    
Gross Carrying Value 18.2 10.3
Accumulated Amortization 10.8 10.3
Net Carrying Value 7.4 0.0
Other    
Intangible assets [Abstract]    
Gross Carrying Value 24.6 14.8
Accumulated Amortization 14.8 13.0
Net Carrying Value $ 9.8 $ 1.8
v3.25.4
Intangible Assets - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]      
Amortization expense on intangible assets $ 13.6 $ 4.8 $ 5.5
v3.25.4
Intangible Assets - Schedule of Future Annual Expected Amortization Expense on Intangible Assets (Details)
$ in Millions
Dec. 31, 2025
USD ($)
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]  
2026 $ 23.8
2027 21.6
2028 19.2
2029 15.4
2030 12.9
2031 and thereafter $ 31.6
v3.25.4
Property and Equipment - Schedule of Property and Equipment (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Property, Plant and Equipment, Net [Abstract]    
Less accumulated depreciation $ (285.0) $ (264.4)
Total 222.3 181.9
Land    
Property, Plant and Equipment, Net [Abstract]    
Property and equipment, gross 15.5 12.3
Building and land improvements    
Property, Plant and Equipment, Net [Abstract]    
Property and equipment, gross 173.9 158.8
Construction in progress    
Property, Plant and Equipment, Net [Abstract]    
Property and equipment, gross 15.5 3.9
Manufacturing and office equipment    
Property, Plant and Equipment, Net [Abstract]    
Property and equipment, gross 288.9 266.7
Aviation equipment    
Property, Plant and Equipment, Net [Abstract]    
Property and equipment, gross $ 13.5 $ 4.6
v3.25.4
Property and Equipment - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Property, Plant and Equipment [Abstract]      
Depreciation expense $ 22.7 $ 22.0 $ 20.1
v3.25.4
Leases - Schedule of Lease Costs (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Leases [Abstract]      
Operating lease expense $ 4.5 $ 3.2 $ 3.6
Short-term lease expense 3.4 3.1 2.5
Cash paid for operating leases included in operating cash flows $ 4.5 $ 3.2 $ 3.6
v3.25.4
Leases - Schedule of Operating Lease Right-of-use Assets (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Leases [Abstract]    
Operating lease right-of-use asset $ 14.9 $ 7.8
Operating lease short-term liability 5.4 2.6
Operating lease long-term liability $ 9.7 $ 5.5
Weighted average remaining lease term (in years) 3 years 2 months 1 day 3 years 7 months 9 days
Weighted average discount rate used in calculating right-of-use asset 5.58% 5.04%
Operating lease, right-of-Use asset, statement of financial position Other long-term assets Other long-term assets
Operating lease, liability, current, statement of financial position Other current liabilities Other current liabilities
Operating lease, liability, noncurrent, statement of financial position Other long-term liabilities Other long-term liabilities
v3.25.4
Leases - Schedule of Future Annual Minimum Lease Payments (Details)
$ in Millions
Dec. 31, 2025
USD ($)
Lessee, Operating Lease, Liability, Payment, Due [Abstract]  
2026 $ 6.1
2027 5.6
2028 2.6
2029 1.4
2030 0.5
2031 and thereafter 0.3
Total lease payments 16.5
Less: Interest (1.4)
Operating lease liabilities $ 15.1
v3.25.4
Debt - Narrative (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2025
USD ($)
Credit Facility | Line of Credit  
Line of Credit Facility [Line Items]  
Line of credit facility, accordion feature, increase limit $ 150.0
Credit Agreement  
Line of Credit Facility [Line Items]  
Maximum consolidated net leverage ratio 3.50
Increased consolidated net leverage ratio 4.00
Minimum interest coverage ratio 2.50
Term Loans and Revolving Credit Facility  
Line of Credit Facility [Line Items]  
Line of credit and letters of credit - maximum $ 600.0
Term Loans and Revolving Credit Facility | Credit Agreement | Line of Credit  
Line of Credit Facility [Line Items]  
Debt Instrument, adjusted SOFR term 1.00%
Term Loans and Revolving Credit Facility | Secured Overnight Financing Rate (SOFR) | Minimum | Credit Agreement | Line of Credit  
Line of Credit Facility [Line Items]  
Additional rate over base, percentage 1.75%
Debt instrument, basis spread on variable rate 0.75%
Term Loans and Revolving Credit Facility | Secured Overnight Financing Rate (SOFR) | Maximum | Credit Agreement | Line of Credit  
Line of Credit Facility [Line Items]  
Additional rate over base, percentage 2.75%
Debt instrument, basis spread on variable rate 1.75%
Term Loans and Revolving Credit Facility | Fed Funds Effective Rate Overnight Index Swap Rate | Credit Agreement | Line of Credit  
Line of Credit Facility [Line Items]  
Debt instrument, basis spread on variable rate 0.50%
Swingline Loans | Secured Overnight Financing Rate (SOFR) | Minimum | Credit Agreement | Line of Credit  
Line of Credit Facility [Line Items]  
Debt instrument, basis spread on variable rate 0.75%
Swingline Loans | Secured Overnight Financing Rate (SOFR) | Maximum | Credit Agreement | Line of Credit  
Line of Credit Facility [Line Items]  
Debt instrument, basis spread on variable rate 1.75%
Revolving Credit Facility | Secured Overnight Financing Rate (SOFR) | Minimum | Credit Agreement | Line of Credit  
Line of Credit Facility [Line Items]  
Unused facility fee as a percentage of line of credit 0.15%
Revolving Credit Facility | Secured Overnight Financing Rate (SOFR) | Maximum | Credit Agreement | Line of Credit  
Line of Credit Facility [Line Items]  
Unused facility fee as a percentage of line of credit 0.35%
v3.25.4
Debt - Schedule of Credit Facilities (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Line of Credit Facility [Line Items]    
Current maturities $ 16.2 $ 0.0
Long-term debt 319.6 105.0
Line of Credit | 2025 Credit Facilities    
Line of Credit Facility [Line Items]    
Line of credit and letters of credit - maximum 250.0  
Borrowings outstanding 0.0  
Line of credit, additional borrowing capacity 244.7  
Line of Credit | 2022 Credit Facilities    
Line of Credit Facility [Line Items]    
Line of credit and letters of credit - maximum   250.0
Borrowings outstanding   105.0
Line of credit, additional borrowing capacity   139.8
Line of Credit | Prepaid Expenses and Other Current Assets | 2025 Credit Facilities    
Line of Credit Facility [Line Items]    
Unamortized debt issuance costs 0.9  
Line of Credit | Prepaid Expenses and Other Current Assets | 2022 Credit Facilities    
Line of Credit Facility [Line Items]    
Unamortized debt issuance costs   0.3
Line of Credit | Other long-term assets | 2025 Credit Facilities    
Line of Credit Facility [Line Items]    
Unamortized debt issuance costs 3.0  
Line of Credit | Other long-term assets | 2022 Credit Facilities    
Line of Credit Facility [Line Items]    
Unamortized debt issuance costs   0.6
Letter of Credit | 2025 Credit Facilities    
Line of Credit Facility [Line Items]    
Line of credit and letters of credit - maximum 30.0  
Amount of letters of credit outstanding 5.3  
Letter of Credit | 2022 Credit Facilities    
Line of Credit Facility [Line Items]    
Line of credit and letters of credit - maximum   30.0
Amount of letters of credit outstanding   $ 5.2
Secured Debt | 2025 Credit Facilities    
Line of Credit Facility [Line Items]    
Current maturities 17.5  
Long-term debt 323.8  
Secured Debt | Current Maturities Of Long-Term Debt | 2025 Credit Facilities    
Line of Credit Facility [Line Items]    
Unamortized debt issuance costs 1.3  
Secured Debt | Long-Term Debt | 2025 Credit Facilities    
Line of Credit Facility [Line Items]    
Unamortized debt issuance costs $ 4.2  
v3.25.4
Debt - Schedule of Debt Maturities (Details)
$ in Millions
Dec. 31, 2025
USD ($)
Debt Disclosure [Abstract]  
2026 $ 17.5
2027 21.9
2028 30.6
2029 35.0
2030 $ 236.3
v3.25.4
Debt - Schedule of International Credit Facilities (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Line of Credit Facility [Line Items]    
Short-term debt $ 12.1 $ 13.3
Foreign Line of Credit    
Line of Credit Facility [Line Items]    
Total credit line 23.4 23.4
Available credit line 11.4 9.5
Letters of credit - maximum 13.5 12.7
Amount of letters of credit outstanding 3.0 2.9
Short-term debt $ 12.1 $ 13.3
Weighted average interest rate 10.62% 9.02%
v3.25.4
Product Warranty Reserves - Narrative (Details)
 12 Months Ended
Dec. 31, 2025
Minimum  
Standard Product Warranty Disclosure [Abstract]  
Standard product warranty description three months
Maximum  
Standard Product Warranty Disclosure [Abstract]  
Standard product warranty description two years
v3.25.4
Product Warranty Reserves - Schedule Of Product Warranty Liability (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Movement in Standard and Extended Product Warranty Accrual, Increase (Decrease) [Roll Forward]      
Reserve balance, January 1 $ 16.1 $ 16.5 $ 11.9
Warranty liabilities accrued 23.9 18.6 17.6
Warranty liabilities settled (21.8) (18.9) (13.1)
Other 1.1 (0.1) 0.1
Reserve balance, December 31 $ 19.3 $ 16.1 $ 16.5
v3.25.4
Accrued Loss Reserves (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Accrued Loss Reserves [Abstract]    
"Other current liabilities" $ 1.8 $ 1.7
"Other long-term liabilities" 5.1 4.6
Total accrued loss reserves $ 6.9 $ 6.3
v3.25.4
Employee Benefit Plans - Schedule of Supplemental Employee Retirement Plan Assets (Details) - Supplemental Employee Retirement Plan - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Cost    
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items]    
Plan assets $ 5.9 $ 5.6
Market    
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items]    
Plan assets 6.7 6.1
Money market fund | Cost    
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items]    
Plan assets 0.7 0.7
Money market fund | Market    
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items]    
Plan assets 0.7 0.7
Company stock | Cost    
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items]    
Plan assets 0.2 0.3
Company stock | Market    
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items]    
Plan assets 0.1 0.3
Equity securities | Cost    
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items]    
Plan assets 5.0 4.6
Equity securities | Market    
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items]    
Plan assets $ 5.9 $ 5.1
v3.25.4
Employee Benefit Plans - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Retirement Benefits [Abstract]      
Income (expense) due to change in the fair market value of company stock held in the SERP $ (0.1) $ 0.1 $ 0.1
Company's 401(K) contributions for the year $ 10.3 $ 10.1 $ 8.1
v3.25.4
Income Taxes - Schedule of Income (Loss) Before Income Taxes (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Tax Disclosure [Abstract]      
United States $ 63.7 $ 25.9 $ 36.4
Foreign (10.6) (12.0) 6.4
Income before income taxes $ 53.1 $ 13.9 $ 42.8
v3.25.4
Income Taxes - Schedule of Provision for Income Tax (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Current provision:      
Federal $ 7.8 $ 13.3 $ 8.2
State 2.5 0.9 4.5
Foreign 3.6 2.6 2.8
Total current provision 13.9 16.8 15.5
Deferred provision (benefit):      
Federal 3.6 (8.2) (3.6)
State 0.0 0.8 (2.8)
Foreign (3.2) 0.4 0.0
Total deferred provision (benefit) 0.4 (7.0) (6.4)
Total provision:      
Federal 11.4 5.1 4.6
State 2.5 1.7 1.7
Foreign 0.4 3.0 2.8
Total income tax provision $ 14.3 $ 9.8 $ 9.1
v3.25.4
Income Taxes - Schedule of Reconciliation of Provision for Income Taxes at Statutory Federal Income Tax Rate (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Amount      
Tax expense at the statutory federal income tax rate $ 11.2 $ 2.9 $ 8.9
State income tax, net of federal income tax 2.0 3.9 0.4
Change in valuation allowances 0.3 1.7 0.3
Other items 0.4 1.7 1.1
Effect of cross-border tax laws      
Foreign-derived intangible income deduction (1.0) (0.4) (0.7)
Other (0.2)    
Research and development tax credits (3.7) (2.8) (2.8)
Nontaxable or nondeductible items 1.5    
Changes in unrecognized tax benefits 1.2    
Impact of uncertain tax positions   (0.5) 1.0
Changes in tax rates   0.7 0.8
Share-based compensation   0.1 0.6
Foreign tax credit   (0.4) (0.5)
Goodwill impairment   2.9 0.0
Total income tax provision $ 14.3 $ 9.8 $ 9.1
Percent      
Tax expense at the statutory federal income tax rate 21.00%    
State income tax, net of federal income tax 3.80%    
Valuation allowance impact 0.60%    
Other items 0.90%    
Effect of cross-border tax laws      
Foreign-derived intangible income (1.90%)    
Other (0.40%)    
Research and development tax credits (7.00%)    
Nontaxable or nondeductible items 2.80%    
Changes in unrecognized tax benefits 2.30%    
Total income tax provision 26.90%    
Brazil      
Amount      
Change in valuation allowances $ (1.2)    
Other items $ 1.3    
Percent      
Valuation allowance impact (2.30%)    
Other items 2.40%    
United Kingdom      
Amount      
Change in valuation allowances $ 2.5    
Other items $ (0.1)    
Percent      
Valuation allowance impact 4.70%    
Other items (0.20%)    
Other foreign jurisdictions      
Amount      
Other foreign jurisdictions $ 0.1    
Percent      
Other foreign jurisdictions 0.20%    
v3.25.4
Income Taxes - Schedule of Cash Paid for Income Taxes (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Operating Loss Carryforwards [Line Items]      
Federal $ 12.1    
State 4.9    
Foreign      
Total cash paid for taxes 19.7 $ 8.2 $ 13.8
Brazil      
Foreign      
Foreign 1.1    
South Africa      
Foreign      
Foreign 1.0    
Other foreign jurisdictions      
Foreign      
Foreign $ 0.6    
v3.25.4
Income Taxes - Schedule of Significant components of Deferred Tax Assets And Liabilities (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Deferred tax assets:        
Amortization of research and experimental expenditures $ 21.9 $ 30.7    
Inventory reserves 9.1 7.6    
Warranty reserves 4.6 3.7    
Credit loss reserves 0.9 0.5    
State tax loss carryforwards 13.2 11.5    
Accrued vacation 1.9 1.4    
Deferred compensation 1.0 1.0    
Share-based compensation 2.1 1.3    
Goodwill 0.4 2.8    
Foreign net operating loss 11.0 8.3    
Lease obligation 3.4 1.6    
Employee & insurance accruals 3.1 3.1    
Domestic credit carryforwards 4.1 1.5    
Uncertain tax provision reserve 1.2 1.1    
Deferred revenue 0.5 0.9    
Valuation allowances (17.1) (12.4) $ (12.5) $ (11.9)
Other 2.5 0.0    
Total deferred tax assets 63.8 64.6    
Deferred tax liabilities:        
Property and equipment 17.3 15.8    
Intangibles 23.6 0.9    
Right-of-use assets 3.4 1.5    
Post-retirement benefits 0.9 0.8    
Other 0.0 2.2    
Total deferred tax liabilities 45.2 21.2    
Total net deferred assets $ 18.6 $ 43.4    
v3.25.4
Income Taxes - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating Loss Carryforwards [Line Items]        
Valuation allowance, deferred tax asset, increase, amount $ 4.7      
Undistributed earnings of foreign subsidiaries 70.6      
Unrecognized tax benefits 14.1 $ 16.8 $ 13.0 $ 12.0
Unrecognized tax benefits, if recognized that would effect the effective rate 18.9 15.1    
Other Current Liabilities        
Operating Loss Carryforwards [Line Items]        
Unrecognized tax benefits, if recognized that would effect the effective rate (11.5) (10.7)    
Other Noncurrent Liabilities        
Operating Loss Carryforwards [Line Items]        
Unrecognized tax benefits, if recognized that would effect the effective rate (7.4) (9.5)    
Deferred Income Tax Assets, Net        
Operating Loss Carryforwards [Line Items]        
Unrecognized tax benefits, if recognized that would effect the effective rate   $ 5.1    
Unrecognized Tax Liabilities        
Operating Loss Carryforwards [Line Items]        
Decrease in unrecognized tax benefits is reasonably possible 11.0      
State and Local Jurisdiction        
Operating Loss Carryforwards [Line Items]        
Net operating loss carryforwards 260.0      
Foreign Tax Jurisdiction        
Operating Loss Carryforwards [Line Items]        
Net operating loss carryforwards 40.2      
Domestic Tax Jurisdiction        
Operating Loss Carryforwards [Line Items]        
Net operating loss carryforwards $ 0.0      
v3.25.4
Income Taxes - Schedule of Roll Forward of the Deferred Tax Asset Valuation Allowance (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]      
Allowance balance, beginning of year $ 12.4 $ 12.5 $ 11.9
Provision 2.1 1.3 1.8
Reversals (1.2) (1.5) (1.6)
Other 3.8 0.1 0.4
Allowance balance, end of year $ 17.1 $ 12.4 $ 12.5
v3.25.4
Income Taxes - Schedule of Reconciliation of Beginning and Ending Unrecognized Tax Benefits (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Unrecognized Tax Benefits [Roll Forward]      
Balance, beginning of year $ 16.8 $ 13.0 $ 12.0
Additions for tax positions taken in current year 1.1 5.2 0.9
Additions for tax positions taken in prior period 0.5 0.0 0.1
Reductions due to lapse of statutes of limitations (4.3) (1.4) 0.0
Balance, end of year $ 14.1 $ 16.8 $ 13.0
v3.25.4
Commitments and Contingencies (Details) - USD ($)
$ in Millions
 1 Months Ended 3 Months Ended
Oct. 31, 2024
Sep. 30, 2024
Sep. 30, 2024
Dec. 31, 2025
Dec. 31, 2024
Sep. 10, 2024
Jun. 30, 2024
Other Commitments [Line Items]              
Contingent liability for customer debt       $ 0.6 $ 1.4    
Liability recorded related to guarantees       0.1 $ 0.3    
Settlement assets, current           $ 13.7  
Settlement, amount $ 8.4            
Telsmith              
Other Commitments [Line Items]              
Loss contingency, estimate of possible loss             $ 8.2
Payments for legal settlements   $ 6.3          
Loss contingency final settlement     $ 1.9        
Letter of Credit | Unused lines of Credit              
Other Commitments [Line Items]              
Letters of credit outstanding, amount       24.7      
Letter of Credit Lender              
Other Commitments [Line Items]              
Letters of credit outstanding, amount       5.3      
Performance Letters of Credit              
Other Commitments [Line Items]              
Letters of credit on behalf of foreign subsidiaries       4.1      
Performance Letters of Credit | Letter of Credit | Unused lines of Credit              
Other Commitments [Line Items]              
Letters of credit on behalf of foreign subsidiaries       $ 10.5      
v3.25.4
Share-Based Compensation - Narrative (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2025
USD ($)
age
shares
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Apr. 25, 2025
shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Capital shares reserved for future issuance | shares       1,309,500
Compensation expense $ 7.1 $ 5.0 $ 4.1  
Restricted Stock Units (RSUs)        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Vesting period 3 years      
Retirement age | age 65      
Anticipated additional compensation costs to be recognized in future periods $ 7.0      
Weighted average period over which additional compensation cost will be expensed 1 year 7 months 6 days      
Restricted Stock Units (RSUs) | Non-Employee Directors Compensation Plan        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Vesting period 1 year      
Performance Shares        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Vesting period 3 years      
Anticipated additional compensation costs to be recognized in future periods $ 3.6      
Weighted average period over which additional compensation cost will be expensed 1 year 10 months 24 days      
Performance Shares | Minimum        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Awards vesting target percentage 0.00%      
Performance Shares | Maximum        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Awards vesting target percentage 200.00%      
Deferred Share Units | Non-Employee Directors Compensation Plan        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Outstanding awards (in shares) | shares 19,051      
Outstanding awards, fair value $ 0.8      
Deferred Share Units | 2025 Plan and 2021 Plan        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Outstanding awards (in shares) | shares 1,426      
Outstanding awards, fair value $ 0.1      
v3.25.4
Share-Based Compensation - Schedule Of Change In RSUs (Details) - Restricted Stock Units (RSUs) - $ / shares
shares in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Restricted Stock Units      
Unvested beginning of year (in shares) 170    
Granted (in shares) 237    
Vested (in shares) (87)    
Forfeited (in shares) (11)    
Unvested end of year (in shares) 309 170  
Weighted Average Grant Date Fair Value      
Beginning balance (in dollars per share) $ 39.58    
Granted (in dollars per share) 37.34 $ 36.76 $ 43.50
Vested (in dollars per share) 41.47    
Forfeited (in dollars per share) 35.90    
Ending balance (in dollars per share) $ 37.45 $ 39.58  
v3.25.4
Share-Based Compensation - Schedule of Additional RSUs Shares Activity (Details) - Restricted Stock Units (RSUs) - USD ($)
$ / shares in Units, $ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Weighted average grant date fair value per award (in dollars per share) $ 37.34 $ 36.76 $ 43.50
Fair value of awards vested and issued $ 3.1 $ 2.9 $ 4.8
Tax expense for restricted stock compensation expense $ (0.7) $ (0.7) $ (0.4)
v3.25.4
Share-Based Compensation - Schedule Of Change In PSUs (Details) - Performance Shares - $ / shares
shares in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Performance Stock Units      
Unvested beginning of year (in shares) 151    
Granted (in shares) 135    
Vested (in shares) (22)    
Forfeited (in shares) (14)    
Unvested end of year (in shares) 250 151  
Weighted Average Grant Date Fair Value      
Beginning balance (in dollars per share) $ 41.56    
Granted (in dollars per share) 33.16 $ 36.62 $ 43.19
Vested (in dollars per share) 51.63    
Forfeited (in dollars per share) 37.94    
Ending balance (in dollars per share) $ 36.36 $ 41.56  
Share-based payment arrangement, percent of target shares granted, percentage 0.00%    
v3.25.4
Share-Based Compensation - Schedule of Additional Performance Shares Activity (Details) - Performance Shares - USD ($)
$ / shares in Units, $ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Weighted average grant date fair value per award (in dollars per share) $ 33.16 $ 36.62 $ 43.19
Fair value of awards vested and issued $ 0.0 $ 0.0 $ 1.6
Tax expense for performance stock compensation expense $ 0.0 $ 0.0 $ (1.0)
Share-based payment arrangement, percent of target shares granted, percentage 0.00%    
v3.25.4
Revenue Recognition - Schedule Of Revenue By Major Source (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Disaggregation of Revenue [Line Items]      
Net sales $ 1,410.4 $ 1,305.1 $ 1,338.2
United States      
Disaggregation of Revenue [Line Items]      
Net sales 1,130.2 1,015.4 1,083.4
United States | Equipment sales      
Disaggregation of Revenue [Line Items]      
Net sales 720.1 661.2 713.7
United States | Parts and component sales      
Disaggregation of Revenue [Line Items]      
Net sales 343.2 301.1 299.6
United States | Service and equipment installation revenue      
Disaggregation of Revenue [Line Items]      
Net sales 35.5 24.3 44.3
United States | Used equipment sales      
Disaggregation of Revenue [Line Items]      
Net sales 2.5 3.4 3.6
United States | Freight revenue      
Disaggregation of Revenue [Line Items]      
Net sales 32.7 29.3 30.6
United States | Other      
Disaggregation of Revenue [Line Items]      
Net sales (3.8) (3.9) (8.4)
International      
Disaggregation of Revenue [Line Items]      
Net sales 280.2 289.7 254.8
International | Equipment sales      
Disaggregation of Revenue [Line Items]      
Net sales 172.6 186.9 156.2
International | Parts and component sales      
Disaggregation of Revenue [Line Items]      
Net sales 89.5 87.1 81.1
International | Service and equipment installation revenue      
Disaggregation of Revenue [Line Items]      
Net sales 13.7 12.1 13.2
International | Used equipment sales      
Disaggregation of Revenue [Line Items]      
Net sales 0.2 0.4 0.2
International | Freight revenue      
Disaggregation of Revenue [Line Items]      
Net sales 4.0 3.4 3.8
International | Other      
Disaggregation of Revenue [Line Items]      
Net sales 0.2 (0.2) 0.3
Infrastructure Solutions      
Disaggregation of Revenue [Line Items]      
Net sales 857.4 837.4 800.4
Infrastructure Solutions | United States      
Disaggregation of Revenue [Line Items]      
Net sales 800.5 783.1 748.7
Infrastructure Solutions | United States | Equipment sales      
Disaggregation of Revenue [Line Items]      
Net sales 510.7 510.9 461.2
Infrastructure Solutions | United States | Parts and component sales      
Disaggregation of Revenue [Line Items]      
Net sales 231.0 220.3 215.9
Infrastructure Solutions | United States | Service and equipment installation revenue      
Disaggregation of Revenue [Line Items]      
Net sales 28.3 23.5 43.5
Infrastructure Solutions | United States | Used equipment sales      
Disaggregation of Revenue [Line Items]      
Net sales 2.3 3.4 3.6
Infrastructure Solutions | United States | Freight revenue      
Disaggregation of Revenue [Line Items]      
Net sales 25.7 22.7 22.6
Infrastructure Solutions | United States | Other      
Disaggregation of Revenue [Line Items]      
Net sales 2.5 2.3 1.9
Infrastructure Solutions | International      
Disaggregation of Revenue [Line Items]      
Net sales 56.9 54.3 51.7
Infrastructure Solutions | International | Equipment sales      
Disaggregation of Revenue [Line Items]      
Net sales 39.2 32.7 30.5
Infrastructure Solutions | International | Parts and component sales      
Disaggregation of Revenue [Line Items]      
Net sales 15.7 19.7 18.7
Infrastructure Solutions | International | Service and equipment installation revenue      
Disaggregation of Revenue [Line Items]      
Net sales 0.8 0.9 1.3
Infrastructure Solutions | International | Used equipment sales      
Disaggregation of Revenue [Line Items]      
Net sales 0.0 0.0 0.0
Infrastructure Solutions | International | Freight revenue      
Disaggregation of Revenue [Line Items]      
Net sales 1.1 0.9 1.0
Infrastructure Solutions | International | Other      
Disaggregation of Revenue [Line Items]      
Net sales 0.1 0.1 0.2
Materials Solutions      
Disaggregation of Revenue [Line Items]      
Net sales 553.0 467.7 537.8
Materials Solutions | United States      
Disaggregation of Revenue [Line Items]      
Net sales 329.7 232.3 334.7
Materials Solutions | United States | Equipment sales      
Disaggregation of Revenue [Line Items]      
Net sales 209.4 150.3 252.5
Materials Solutions | United States | Parts and component sales      
Disaggregation of Revenue [Line Items]      
Net sales 112.2 80.8 83.7
Materials Solutions | United States | Service and equipment installation revenue      
Disaggregation of Revenue [Line Items]      
Net sales 7.2 0.8 0.8
Materials Solutions | United States | Used equipment sales      
Disaggregation of Revenue [Line Items]      
Net sales 0.2 0.0 0.0
Materials Solutions | United States | Freight revenue      
Disaggregation of Revenue [Line Items]      
Net sales 7.0 6.6 8.0
Materials Solutions | United States | Other      
Disaggregation of Revenue [Line Items]      
Net sales (6.3) (6.2) (10.3)
Materials Solutions | International      
Disaggregation of Revenue [Line Items]      
Net sales 223.3 235.4 203.1
Materials Solutions | International | Equipment sales      
Disaggregation of Revenue [Line Items]      
Net sales 133.4 154.2 125.7
Materials Solutions | International | Parts and component sales      
Disaggregation of Revenue [Line Items]      
Net sales 73.8 67.4 62.4
Materials Solutions | International | Service and equipment installation revenue      
Disaggregation of Revenue [Line Items]      
Net sales 12.9 11.2 11.9
Materials Solutions | International | Used equipment sales      
Disaggregation of Revenue [Line Items]      
Net sales 0.2 0.4 0.2
Materials Solutions | International | Freight revenue      
Disaggregation of Revenue [Line Items]      
Net sales 2.9 2.5 2.8
Materials Solutions | International | Other      
Disaggregation of Revenue [Line Items]      
Net sales $ 0.1 $ (0.3) $ 0.1
v3.25.4
Revenue Recognition - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Disaggregation of Revenue [Line Items]      
Contract assets $ 5.9 $ 6.6  
Contract with customer, liability 7.7 5.8  
Net sales 1,410.4 1,305.1 $ 1,338.2
Extended warranty revenue      
Disaggregation of Revenue [Line Items]      
Deferred revenue 1.4 1.3  
Net sales $ 1.0 $ 1.3 $ 1.1
v3.25.4
Operations by Industry Segment and Geographic Area - Narrative (Details)
 12 Months Ended
Dec. 31, 2025
segment
Segment Reporting [Abstract]  
Number of reportable segments 2
Number of Operating Segments 2
v3.25.4
Operations by Industry Segment and Geographic Area - Schedule of Segment Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Reportable segment revenues:      
Net sales $ 1,410.4 $ 1,305.1 $ 1,338.2
Significant reportable segment expenses:      
Equipment 627.9 628.8 682.9
Parts 217.9 202.2 204.0
Other 157.1 145.8 107.6
General and administrative 97.8 80.4 92.7
Sales and marketing 78.7 72.4 72.2
Quality Costs 33.9 29.6 27.2
Research and development 26.9 23.8 21.8
Inventory Period Costs 23.2 18.1 16.2
Other segment items (2.0) 0.6 (0.7)
Reportable Segment Operating Adjusted EBITDA 189.9 158.7 153.1
Reportable segment assets and capital expenditures:      
Assets 2,358.1 1,868.1 1,841.7
Capital expenditures 31.2 20.2 33.7
Infrastructure Solutions      
Reportable segment revenues:      
Net sales 857.4 837.4 800.4
Materials Solutions      
Reportable segment revenues:      
Net sales 553.0 467.7 537.8
Operating Segments      
Reportable segment revenues:      
Net sales 1,451.3 1,360.4 1,377.0
Significant reportable segment expenses:      
Reportable Segment Operating Adjusted EBITDA 189.9 158.7 153.1
Operating Segments | Infrastructure Solutions      
Reportable segment revenues:      
Net sales 893.4 885.7 838.2
Significant reportable segment expenses:      
Equipment 381.4 397.8 408.5
Parts 120.1 121.5 121.9
Other 100.9 104.8 65.8
General and administrative 55.3 52.4 53.5
Sales and marketing 44.3 44.3 44.6
Quality Costs 23.2 17.3 15.1
Research and development 17.4 16.1 15.1
Inventory Period Costs 17.4 10.3 11.3
Other segment items (0.9) (0.3) 0.0
Reportable Segment Operating Adjusted EBITDA 134.3 121.5 102.4
Reportable segment assets and capital expenditures:      
Assets 1,210.4 1,095.8 1,041.5
Capital expenditures 25.1 15.0 24.8
Operating Segments | Materials Solutions      
Reportable segment revenues:      
Net sales 557.9 474.7 538.8
Significant reportable segment expenses:      
Equipment 246.5 231.0 274.4
Parts 97.8 80.7 82.1
Other 56.2 41.0 41.8
General and administrative 42.5 28.0 39.2
Sales and marketing 34.4 28.1 27.6
Quality Costs 10.7 12.3 12.1
Research and development 9.5 7.7 6.7
Inventory Period Costs 5.8 7.8 4.9
Other segment items (1.1) 0.9 (0.7)
Reportable Segment Operating Adjusted EBITDA 55.6 37.2 50.7
Reportable segment assets and capital expenditures:      
Assets 1,147.7 772.3 800.2
Capital expenditures 6.1 5.2 8.9
Intersegment revenues      
Reportable segment revenues:      
Net sales 40.9 55.3 38.8
Intersegment revenues | Infrastructure Solutions      
Reportable segment revenues:      
Net sales 36.0 48.3 37.8
Intersegment revenues | Materials Solutions      
Reportable segment revenues:      
Net sales $ 4.9 $ 7.0 $ 1.0
v3.25.4
Operations by Industry Segment and Geographic Area - Schedule of Segment Information and Related Reconciliations (Details) - USD ($)
$ in Millions
 12 Months Ended
Oct. 01, 2025
Oct. 01, 2024
Oct. 01, 2023
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Segment Reporting Information [Line Items]            
Net sales       $ 1,410.4 $ 1,305.1 $ 1,338.2
Reconciliation of Reportable Segment Operating Adjusted EBITDA to "Income before income taxes"            
Segment Operating Adjusted EBITDA - reportable segments       189.9 158.7 153.1
Restructuring and other related charges       0.4 (8.4) (5.8)
Goodwill impairment $ 0.0 $ 0.0 $ 0.0 0.0 (20.2) 0.0
Asset impairment       0.0 0.0 (1.2)
Gain on sale of property, equipment and business, net       0.2 1.1 3.1
Net income (loss) attributable to noncontrolling interest       0.0 0.2 (0.2)
Income before income taxes       53.1 13.9 42.8
Reconciliation of reportable segment assets to "Total assets"            
Total assets - reportable segments       2,358.1 1,868.1 1,841.7
Total assets       1,367.2 1,043.6 1,059.3
Reconciliation of reportable segment capital expenditures to "Expenditures for property and equipment"            
Total capital expenditures       40.7 20.5 34.1
Elimination of intercompany receivables            
Reconciliation of reportable segment assets to "Total assets"            
Total assets       (1,304.6) (1,121.1) (999.4)
Elimination of investment in subsidiaries            
Reconciliation of reportable segment assets to "Total assets"            
Total assets       (775.6) (522.9) (521.5)
Other            
Reconciliation of reportable segment assets to "Total assets"            
Total assets       (43.7) (44.9) (32.4)
Operating Segments            
Segment Reporting Information [Line Items]            
Net sales       1,451.3 1,360.4 1,377.0
Reconciliation of Reportable Segment Operating Adjusted EBITDA to "Income before income taxes"            
Segment Operating Adjusted EBITDA - reportable segments       189.9 158.7 153.1
Transformation program       (19.6) (32.8) (29.2)
Restructuring and other related charges       0.2 (9.5) (7.7)
Goodwill impairment       0.0 (20.2) 0.0
Asset impairment       0.0 0.0 (1.2)
Gain on sale of property, equipment and business, net       0.2 1.1 3.1
Acquisition and integration costs       (16.9) (0.8) 0.0
Interest expense, net       (15.2) (8.7) (6.8)
Depreciation and amortization       (36.3) (26.8) (25.6)
Net income (loss) attributable to noncontrolling interest       0.0 (0.2) 0.2
Reconciliation of reportable segment capital expenditures to "Expenditures for property and equipment"            
Total capital expenditures       31.2 20.2 33.7
Operating Segments | Elimination of intersegment revenues            
Segment Reporting Information [Line Items]            
Net sales       40.9 55.3 38.8
Corporate and Other            
Reconciliation of Reportable Segment Operating Adjusted EBITDA to "Income before income taxes"            
Segment Operating Adjusted EBITDA - reportable segments       (49.2) (46.9) (43.1)
Asset impairment       0.0 0.0 (0.8)
Gain on sale of property, equipment and business, net       0.1 0.0 0.0
Reconciliation of reportable segment assets to "Total assets"            
Total assets       1,133.0 864.4 770.9
Reconciliation of reportable segment capital expenditures to "Expenditures for property and equipment"            
Total capital expenditures       $ 9.5 $ 0.3 $ 0.4
v3.25.4
Operations by Industry Segment and Geographic Area - Schedule of Sales Into Major Geographic Regions (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Segments, Geographical Areas [Abstract]      
Revenues $ 1,410.4 $ 1,305.1 $ 1,338.2
United States      
Segments, Geographical Areas [Abstract]      
Revenues 1,130.2 1,015.4 1,083.4
Canada      
Segments, Geographical Areas [Abstract]      
Revenues 69.8 67.4 58.5
Australia and Oceania      
Segments, Geographical Areas [Abstract]      
Revenues 41.9 52.3 55.7
Africa      
Segments, Geographical Areas [Abstract]      
Revenues 39.6 40.5 36.6
Brazil      
Segments, Geographical Areas [Abstract]      
Revenues 35.9 32.9 27.0
Other European Countries      
Segments, Geographical Areas [Abstract]      
Revenues 24.6 23.7 26.2
South America (excluding Brazil)      
Segments, Geographical Areas [Abstract]      
Revenues 22.1 17.8 19.8
Other Asian Countries      
Segments, Geographical Areas [Abstract]      
Revenues 13.5 12.3 7.7
Mexico      
Segments, Geographical Areas [Abstract]      
Revenues 9.2 23.8 8.4
Japan and Korea      
Segments, Geographical Areas [Abstract]      
Revenues 7.2 0.0 0.3
West Indies      
Segments, Geographical Areas [Abstract]      
Revenues 5.5 3.8 2.5
Middle East      
Segments, Geographical Areas [Abstract]      
Revenues 3.6 1.8 4.9
Post-Soviet States (excluding Russia)      
Segments, Geographical Areas [Abstract]      
Revenues 3.0 7.2 2.5
India      
Segments, Geographical Areas [Abstract]      
Revenues 2.4 0.6 0.6
Central America (excluding Mexico)      
Segments, Geographical Areas [Abstract]      
Revenues 1.9 5.6 4.1
Total foreign      
Segments, Geographical Areas [Abstract]      
Revenues $ 280.2 $ 289.7 $ 254.8
v3.25.4
Operations by Industry Segment and Geographic Area - Schedule of Property and Equipment, Net by Major Geographic Region (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Segments, Geographical Areas [Abstract]    
Total property and equipment, net $ 222.3 $ 181.9
United States    
Segments, Geographical Areas [Abstract]    
Total property and equipment, net 185.6 148.2
United Kingdom    
Segments, Geographical Areas [Abstract]    
Total property and equipment, net 17.0 16.5
Brazil    
Segments, Geographical Areas [Abstract]    
Total property and equipment, net 5.8 4.9
South Africa    
Segments, Geographical Areas [Abstract]    
Total property and equipment, net 5.0 4.1
Australia    
Segments, Geographical Areas [Abstract]    
Total property and equipment, net 4.3 4.0
Canada    
Segments, Geographical Areas [Abstract]    
Total property and equipment, net 3.7 3.9
Other    
Segments, Geographical Areas [Abstract]    
Total property and equipment, net 0.9 0.3
Total foreign    
Segments, Geographical Areas [Abstract]    
Total property and equipment, net $ 36.7 $ 33.7
v3.25.4
Other Income and Expenses, net (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Other Income and Expenses [Abstract]      
Foreign exchange gains (losses), net $ 0.9 $ (1.2) $ 0.7
Investment income, net 0.3 0.0 0.2
Other, net 1.2 0.6 0.1
Total $ 2.4 $ (0.6) $ 1.0
v3.25.4
Strategic Transformation and Restructuring, Impairment and Other Asset (Gains) Charges, net - Narrative (Details) - USD ($)
$ in Millions
 1 Months Ended 3 Months Ended 12 Months Ended
Oct. 31, 2024
Jun. 30, 2024
Mar. 31, 2023
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Restructuring Cost and Reserve [Line Items]            
Hosting arrangement, service contract, implementation cost, capitalized, before accumulated amortization       $ 28.2 $ 31.9  
Hosting arrangement, service contract, implementation cost, capitalized, accumulated amortization       9.2 5.5  
Settlement, amount $ 8.4          
Gain on sale of property, equipment and business, net       0.2 1.1 $ 3.1
Charges associated with leadership change and overhead restructuring       0.0 0.0 7.3
Workforce reductions       0.0 0.9 0.0
Costs associated with closing Tacoma | Discontinued Operations, Disposed of by Sale            
Restructuring Cost and Reserve [Line Items]            
Disposal group, including discontinued operation, consideration     $ 19.9      
Gain on sale of property, equipment and business, net     3.4      
Other Restructuring            
Restructuring Cost and Reserve [Line Items]            
Share-based payment arrangement, recovery of expense     (1.0)      
Workforce reductions   $ 0.9        
Restructuring and related cost, incurred cost     5.5      
Other Restructuring | Chief Executive Officer            
Restructuring Cost and Reserve [Line Items]            
Charges associated with leadership change and overhead restructuring           $ 1.8
Share-based payment arrangement, recovery of expense     $ (1.6)      
Prepaid Expenses and Other Current Assets            
Restructuring Cost and Reserve [Line Items]            
Hosting arrangement, service contract, implementation cost, capitalized, before accumulated amortization       3.6 3.7  
Other long-term assets            
Restructuring Cost and Reserve [Line Items]            
Hosting arrangement, service contract, implementation cost, capitalized, before accumulated amortization       $ 24.6 $ 28.2  
v3.25.4
Strategic Transformation and Restructuring, Impairment and Other Asset (Gains) Charges, net - Schedule of Restructuring, Impairment and Other Asset Charges, Net (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Strategic Transformation Initiatives      
Restructuring Cost and Reserve [Line Items]      
Total costs related to strategic transformation initiatives $ 19.7 $ 33.5 $ 29.7
"Selling, general and administrative expenses"      
Restructuring Cost and Reserve [Line Items]      
Amortization of capitalized implementation costs 3.7 3.6 1.9
"Selling, general and administrative expenses" | Strategic Transformation Initiatives      
Restructuring Cost and Reserve [Line Items]      
Total costs related to strategic transformation initiatives 19.6 33.0 29.4
"Cost of sales" | Strategic Transformation Initiatives      
Restructuring Cost and Reserve [Line Items]      
Total costs related to strategic transformation initiatives $ 0.1 $ 0.5 $ 0.3
v3.25.4
Strategic Transformation and Restructuring, Impairment and Other Asset (Gains) Charges, net - Schedule of the Restructuring, Asset Impairment Charges and Net Gain on Sale of Property and Equipment (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Restructuring Cost and Reserve [Line Items]      
Workforce reductions $ 0.0 $ 0.9 $ 0.0
Charges associated with leadership change and overhead restructuring $ 0.0 $ 0.0 $ 7.3
Restructuring, incurred cost, statement of income or comprehensive income Restructuring, impairment and other asset (gains) charges, net Restructuring, impairment and other asset (gains) charges, net Restructuring, impairment and other asset (gains) charges, net
Total restructuring related (gains) charges, net $ (0.2) $ 9.5 $ 7.7
Asset impairment charges:      
Other impairment charges 0.0 0.0 1.2
Total asset impairment charges 0.0 0.0 1.2
Gain on sale of property and equipment, net:      
Gain on sale of property and equipment, net (0.2) (1.1) (3.1)
Total gain on sale of property and equipment, net (0.2) (1.1) (3.1)
Restructuring, impairment and other asset (gains) charges, net (0.4) 8.4 5.8
(Gains) charges associated with exited operations – Enid | Facility Closing      
Restructuring Cost and Reserve [Line Items]      
Business exit costs $ (0.2) $ 8.6 $ 0.4
v3.25.4
Strategic Transformation and Restructuring, Impairment and Other Asset (Gains) Charges, net - Schedule of Restructuring Charges By Reportable Segment (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Restructuring Cost and Reserve [Line Items]      
Total restructuring related (gains) charges, net $ (0.2) $ 9.5 $ 7.7
Corporate and Other      
Restructuring Cost and Reserve [Line Items]      
Total restructuring related (gains) charges, net 0.0 0.2 7.2
Infrastructure Solutions | Operating Segments      
Restructuring Cost and Reserve [Line Items]      
Total restructuring related (gains) charges, net (0.2) 9.0 0.5
Materials Solutions | Operating Segments      
Restructuring Cost and Reserve [Line Items]      
Total restructuring related (gains) charges, net $ 0.0 $ 0.3 $ 0.0
v3.25.4
Strategic Transformation and Restructuring, Impairment and Other Asset (Gains) Charges, net - Schedule of Impairment Charges By Reportable Segment (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Restructuring Cost and Reserve [Line Items]      
Total impairment charges $ 0.0 $ 0.0 $ 1.2
Operating Segments      
Restructuring Cost and Reserve [Line Items]      
Total impairment charges 0.0 0.0 1.2
Corporate and Other      
Restructuring Cost and Reserve [Line Items]      
Total impairment charges 0.0 0.0 0.8
Infrastructure Solutions | Operating Segments      
Restructuring Cost and Reserve [Line Items]      
Total impairment charges $ 0.0 $ 0.0 $ 0.4
v3.25.4
Strategic Transformation and Restructuring, Impairment and Other Asset (Gains) Charges, net - Schedule of Sale Of Fixed Assets By Reportable Segment (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Restructuring Cost and Reserve [Line Items]      
Total gain on sale of property and equipment, net $ (0.2) $ (1.1) $ (3.1)
Operating Segments      
Restructuring Cost and Reserve [Line Items]      
Total gain on sale of property and equipment, net (0.2) (1.1) (3.1)
Corporate and Other      
Restructuring Cost and Reserve [Line Items]      
Total gain on sale of property and equipment, net (0.1) 0.0 0.0
Infrastructure Solutions | Operating Segments      
Restructuring Cost and Reserve [Line Items]      
Total gain on sale of property and equipment, net (0.2) (0.3) (3.1)
Materials Solutions | Operating Segments      
Restructuring Cost and Reserve [Line Items]      
Total gain on sale of property and equipment, net $ 0.1 $ (0.8) $ 0.0
v3.25.4
Subsequent Event (Details)
$ in Millions
Jan. 01, 2026
USD ($)
CWMF, LLC | Subsequent Event  
Subsequent Event [Line Items]  
Aggregate purchase consideration $ 67.5