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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 9,475 $ 8,735
Trade receivables 83,491 77,426
Trade receivables from related parties 247 1,066
Inventories 132,054 121,739
Insurance receivable – asbestos 15,000 15,000
Other current assets 7,808 7,442
Total current assets 248,075 231,408
Property, plant and equipment, net 156,712 154,998
Operating lease right-of-use assets 3,554 3,522
Insurance receivable – asbestos 84,223 90,910
Deferred income tax assets 2,141 2,141
Intangible assets, net 4,859 5,194
Investments in joint ventures 2,175 2,175
Prepaid pensions 7,710 7,242
Other noncurrent assets 5,139 5,184
Total assets 514,588 502,774
Current liabilities:    
Accounts payable 46,583 43,209
Accounts payable to related parties 775 412
Accrued payrolls and employee benefits 13,658 11,796
Debt – current portion 15,137 12,410
Operating lease liabilities – current portion 842 635
Asbestos liability – current portion 23,000 23,000
Other current liabilities 25,447 24,763
Total current liabilities 125,442 116,225
Employee benefit obligations 40,344 43,431
Asbestos liability 119,786 130,575
Long-term debt 108,307 93,061
Noncurrent operating lease liabilities 2,712 2,886
Deferred income tax liabilities 2,032 2,518
Other noncurrent liabilities 385 682
Total liabilities 399,008 389,378
Commitments and contingent liabilities (Note 9)
Shareholders’ equity:    
Common stock --par value $1; authorized 40,000 shares; issued and outstanding 19,729 shares as of June 30, 2023 and 19,404 shares as of December 31, 2022 19,729 19,404
Additional paid-in capital 176,160 175,656
Retained deficit (31,970) (32,322)
Accumulated other comprehensive loss (57,813) (58,412)
Total Ampco-Pittsburgh shareholders’ equity 106,106 104,326
Noncontrolling interest 9,474 9,070
Total shareholders’ equity 115,580 113,396
Total liabilities and shareholders’ equity $ 514,588 $ 502,774