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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 6,074 $ 8,735
Trade receivables 85,655 77,426
Trade receivables from related parties 1,135 1,066
Inventories 131,607 121,739
Insurance receivable – asbestos 15,000 15,000
Other current assets 8,050 7,442
Total current assets 247,521 231,408
Property, plant and equipment, net 154,656 154,998
Operating lease right-of-use assets 3,406 3,522
Insurance receivable – asbestos 87,833 90,910
Deferred income tax assets 2,141 2,141
Intangible assets, net 5,131 5,194
Investments in joint ventures 2,175 2,175
Prepaid pensions 7,469 7,242
Other noncurrent assets 5,073 5,184
Total assets 515,405 502,774
Current liabilities:    
Accounts payable 49,493 43,209
Accounts payable to related parties 940 412
Accrued payrolls and employee benefits 12,103 11,796
Debt – current portion 13,594 12,410
Operating lease liabilities – current portion 626 635
Asbestos liability – current portion 23,000 23,000
Other current liabilities 28,444 24,763
Total current liabilities 128,200 116,225
Employee benefit obligations 41,947 43,431
Asbestos liability 126,257 130,575
Long-term debt 97,206 93,061
Noncurrent operating lease liabilities 2,780 2,886
Deferred income tax liabilities 2,440 2,518
Other noncurrent liabilities 682 682
Total liabilities 399,512 389,378
Commitments and contingent liabilities (Note 8)
Shareholders’ equity:    
Common stock - par value $1; authorized 40,000 shares; issued and outstanding 19,404 shares as of March 31, 2023 and December 31, 2022 19,404 19,404
Additional paid-in capital 176,283 175,656
Retained deficit (32,393) (32,322)
Accumulated other comprehensive loss (56,819) (58,412)
Total Ampco-Pittsburgh shareholders’ equity 106,475 104,326
Noncontrolling interest 9,418 9,070
Total shareholders’ equity 115,893 113,396
Total liabilities and shareholders’ equity $ 515,405 $ 502,774