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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 10,829 $ 7,286
Trade receivables, less allowance for credit losses of $893 as of March 31, 2024 and $975 as of December 31, 2023. 84,281 78,939
Inventories 123,079 124,694
Insurance receivable - asbestos 15,000 15,000
Contract assets 5,510 4,452
Other current assets 5,075 5,370
Total current assets 243,774 236,653
Property, plant and equipment, net 155,382 158,732
Operating lease right-of-use assets 4,569 4,767
Insurance receivable - asbestos, less allowance for credit losses of $708 as of March 31, 2024 and December 31, 2023 141,960 145,245
Deferred income tax assets 3,160 3,160
Intangible assets, net 4,652 4,947
Investments in joint ventures 2,175 2,175
Prepaid pensions 4,973 4,951
Other noncurrent assets 5,163 5,024
Total assets 565,808 565,654
Current liabilities:    
Accounts payable 41,387 36,830
Accrued payrolls and employee benefits 14,537 14,703
Debt – current portion 14,805 12,271
Operating lease liabilities – current portion 927 946
Asbestos liability – current portion 24,000 24,000
Other current liabilities 29,011 27,734
Total current liabilities 125,735 116,885
Employee benefit obligations 40,192 41,684
Asbestos liability 207,772 214,679
Long-term debt 116,171 116,382
Noncurrent operating lease liabilities 3,642 3,822
Deferred income tax liabilities 538 543
Other noncurrent liabilities 4,519 88
Total liabilities 498,569 494,083
Commitments and contingent liabilities (Note 8)
Shareholders’ equity:    
Common stock - par value $1; authorized 40,000 shares; issued and outstanding 19,729 shares as of March 31, 2024 and December 31, 2023 19,729 19,729
Additional paid-in capital 177,542 177,196
Retained deficit (75,714) (72,997)
Accumulated other comprehensive loss (65,257) (62,989)
Total Ampco-Pittsburgh shareholders’ equity 56,300 60,939
Noncontrolling interest 10,939 10,632
Total shareholders’ equity 67,239 71,571
Total liabilities and shareholders’ equity 565,808 565,654
Related Party [Member]    
Current assets:    
Trade receivables from related parties 0 912
Current liabilities:    
Accounts payable to related parties $ 1,068 $ 401