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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 7,892 $ 7,286
Trade receivables, less allowance for credit losses of $920 as of June 30, 2024 and $975 as of December 31, 2023 83,974 78,939
Inventories 119,816 124,694
Insurance receivable - asbestos 15,000 15,000
Contract assets 9,228 4,452
Other current assets 6,679 5,370
Total current assets 247,384 236,653
Property, plant and equipment, net 153,127 158,732
Operating lease right-of-use assets 4,668 4,767
Insurance receivable - asbestos, less allowance for credit losses of $708 as of June 30, 2024 and December 31, 2023 136,050 145,245
Deferred income tax assets 3,160 3,160
Intangible assets, net 4,574 4,947
Investments in joint ventures 2,175 2,175
Prepaid pensions 5,049 4,951
Other noncurrent assets 4,619 5,024
Total assets 560,806 565,654
Current liabilities:    
Accounts payable 40,212 36,830
Accrued payrolls and employee benefits 13,913 14,703
Debt – current portion 15,886 12,271
Operating lease liabilities – current portion 962 946
Asbestos liability – current portion 24,000 24,000
Other current liabilities 28,676 27,734
Total current liabilities 124,849 116,885
Employee benefit obligations 35,810 41,684
Asbestos liability 202,836 214,679
Long-term debt 119,355 116,382
Noncurrent operating lease liabilities 3,706 3,822
Deferred income tax liabilities 379 543
Other noncurrent liabilities 4,412 88
Total liabilities 491,347 494,083
Commitments and contingent liabilities (Note 8)
Shareholders’ equity:    
Common stock - par value $1; authorized 40,000 shares; issued and outstanding 19,980 shares as of June 30, 2024 and 19,729 shares as of December 31, 2023 19,980 19,729
Additional paid-in capital 177,554 177,196
Retained deficit (73,702) (72,997)
Accumulated other comprehensive loss (65,783) (62,989)
Total Ampco-Pittsburgh shareholders’ equity 58,049 60,939
Noncontrolling interest 11,410 10,632
Total shareholders’ equity 69,459 71,571
Total liabilities and shareholders’ equity 560,806 565,654
Related Party [Member]    
Current assets:    
Trade receivables from related parties 4,795 912
Current liabilities:    
Accounts payable to related parties $ 1,200 $ 401