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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 11,844 $ 7,286
Trade receivables, less allowance for credit losses of $903 as of September 30, 2024 and $975 as of December 31, 2023 74,727 78,939
Inventories 120,856 124,694
Insurance receivable - asbestos 15,000 15,000
Contract assets 6,864 4,452
Other current assets 6,905 5,370
Total current assets 238,707 236,653
Property, plant and equipment, net 152,530 158,732
Operating lease right-of-use assets 4,839 4,767
Insurance receivable - asbestos, less allowance for credit losses of $708 as of September 30, 2024 and December 31, 2023 131,404 145,245
Deferred income tax assets 3,160 3,160
Intangible assets, net 4,682 4,947
Investments in joint ventures 2,175 2,175
Prepaid pensions 5,415 4,951
Other noncurrent assets 4,501 5,024
Total assets 547,413 565,654
Current liabilities:    
Accounts payable 29,772 36,830
Accrued payrolls and employee benefits 15,805 14,703
Debt – current portion 14,268 12,271
Operating lease liabilities – current portion 979 946
Asbestos liability – current portion 24,000 24,000
Other current liabilities 32,849 27,734
Total current liabilities 119,739 116,885
Employee benefit obligations 33,240 41,684
Asbestos liability 196,069 214,679
Long-term debt 116,010 116,382
Noncurrent operating lease liabilities 3,860 3,822
Deferred income tax liabilities 400 543
Other noncurrent liabilities 4,419 88
Total liabilities 473,737 494,083
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 September 30, 2024 and 19,729 shares as of December 31, 2023 19,980 19,729
Additional paid-in capital 177,926 177,196
Retained deficit (75,661) (72,997)
Accumulated other comprehensive loss (60,903) (62,989)
Total Ampco-Pittsburgh shareholders’ equity 61,342 60,939
Noncontrolling interest 12,334 10,632
Total shareholders’ equity 73,676 71,571
Total liabilities and shareholders’ equity 547,413 565,654
Related Party [Member]    
Current assets:    
Trade receivables from related parties 2,511 912
Current liabilities:    
Accounts payable to related parties $ 2,066 $ 401